Driven by growth in developing markets, the global rigid plastic packaging market will reach $161.11bn in 2013, experts predict.
According to a new analysis from Visiongain, a research company, these emerging markets will be characterised by clear immaturity and strong economic growth and this will increase the quality and quantity of consumer purchases. The low labour costs will also incentivise multinationals to expand the scale of their operations in these markets.
The analyst company’s report, Global Rigid Plastic Packaging Market 2013-2023, says that while the effects of the economic crisis have reduced overall packaging consumption, the conditions that the crisis has created have proved favourable to the growth of rigid plastic packaging.
“As a consequence of the economic crisis, there has been a change in consumer preferences and this has been reflected in purchasing patterns,” according to the study.
“Consumers are looking for convenience and they are looking for good quality products at an affordable price. There are also demographic trends that have positively affected growth in the rigid plastic packaging market.”
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