- Population growth in Europe and North America has slowed or even decreased, while developing region populations such as China, India, Indonesia, Thailand and Malaysia continue to grow, resulting in a natural increase in consumer goods and consequently, the need for packaging machinery in these areas.
- The global middle-class will continue to grow at 160 million people per year on average through 2030, resulting in higher disposable incomes and improved access to medicines, processed food products, household chemicals, etc.
- Millennials have surpassed baby boomers as the largest generation, driving the market with their demands for innovative new products and packaging.
- Leading corporations have been increasingly expected to drive environmentally friendly solutions throughout their operations. Heightened corporate social responsibility, tighter regulations and heavier taxes related to the protection of the environment are driving investment in solutions that optimize the use of resources and minimize damage to the environment.
- Increased focus on the environment coupled with tighter profit margins throughout the supply chain has meant that optimizing processes is as important as ever.
- Though varied, packaging machinery demand has emerged after a period of relatively slow growth, particularly in developing regions such as the Middle and Far East.
Source: PMMI Business Intelligence, “Global Trends Impacting the Market for Packaging Machinery 2018.” Find the full report here.