Growth trends of flexible packaging in the world

   Two megatrends are currently driving the growth of the packaging industry: a growing global population and a growing middle class. Compared to today’s 7.5 billion, the global population is projected to reach 9.2 billion by 2040. Meanwhile, the global middle class is projected to grow by 66%, from 3 billion to more than 5 billion in the next ten years, with people living longer. , healthier and living better.

   Rising living standards will lead to greater access to automobiles, technology, and electronics. This is especially true in China, where GDP per capita is estimated to triple and exceed $40,000 by 2040, similar to purchasing power in the European OECD (Organization for Economic Cooperation and Development) in 2030.

Prospects for growth in demand for chemical products

   These mega-trends will lead to an estimated increase in global chemical demand of nearly 45% over the next decade alone, or about 4% per year. This increase exceeds projections for energy and GDP growth over the same period. Impacts on the plastics industry are projected to include:

• Consumer demand for plastics, fertilizers and other chemicals will increase as incomes rise.
• Olefins and aromatic hydrocarbons are the basic building blocks for plastics and other consumer products.
• Manufacturers see plastics as lightweight and durable materials that can improve product performance, from packaging to automotive parts to medical devices.

   Almost all of this growth is expected to occur in the developing world, two-thirds of it in the Asia-Pacific region. India and China are expected to reach a middle class population of more than one billion people by 2040, driving demand for packaging and polyethylene (PE) in particular.

Source https://packagingeurope.com/