London, 13 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the paperboard packaging market in MENA 2015-2019, which is expected to grow at a CAGR of 4.73% during the forecast period of 2014-2019.
There are some demographic trends that have positively affected the packaging market in MENA. Urbanization and change in consumer lifestyles, for example, have propelled demand for packaging solutions that are lighter in weight and have greater visual appeal.
Because of the increase in consumer disposable income and their increasing consumption, there has been an increase in the need for packaged products, and this has led to an increase in demand for packaging materials. The packaging market has also witnessed a considerable shift in purchasing patterns, with customers demanding more flexible packaging solutions over rigid packing.
“Consumer product manufacturers prefer eco-friendly packaging materials as they promote sustainability,” says Faisal Ghaus, Vice President of Technavio.
“Paper can be recycled up to seven times, which gives folding carton manufacturers an advantage over other packaging product manufacturers. Therefore, manufacturers are focusing on producing 100% recyclable folding cartons.”
Key Market Drivers
- Increased Popularity of Paperboard Packaging
- Recyclable and Cost-effective Nature
- Increased Packaging Communication
- Healthy Economic Growth
- Growth in FMCG and Organized Retail Sector
Key Market Trends
- Technological Innovations
- Demand for Eco-friendly Cartons
- Demand for Aesthetic Appeal
- Increase in Mergers and Acquisitions
- Sustainable Packaging Gaining Importance
Key Market Vendors
- INDEVCO
- International Paper
- Mondi plc
- Tetra Pak
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
