A new report, Global Packaging Industry provides an overview of recent factors enabling growth in the global Packaging market. According to the report, recent innovations have created several growth opportunities for prevailing companies as well as newer market entrants. Global Packaging Market Research Reports provides information regarding market trends, competitive landscape, market analysis, cost structure, capacity, revenue, gross profit, business distribution and forecast 2023.
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The packaging industry in the UAE is expected to register a CAGR of 4.2% during the forecast period (2019 – 2024). The most important feature to be integrated into packaging is functionality. There is a growing demand for secondary packaging for this region because of the increasing trend in categories such as perfumes and skincare through folding cartons. As many consumers and companies are becoming more zero waste compliant, sustainability is becoming a key development agenda in the United Arab Emirates. Packaging manufacturers present in this region are investing in innovative packaging in terms of both design and materials used considering demographic and lifestyle changes.
– There is a shift to larger pack sizes in food packaging. For example, large pack sizes like Nutella’s 750g in spreads are proving increasingly popular as they offer better value, while in baby food the rising popularity of growing-up milk formula is also supporting sales of larger packs.
– There is slower growth in retail unit volume due to the economic slowdown in the United Arab Emirates which hit the packaging industry, with many packaging categories including food, beauty, and personal care, soft drinks and home care. Companies are looking for alternative ways of offering multipacks and larger pack sizes, which are more economical, as well as smaller packs which are more affordable. High taxation in canned packaging has been a factor that impacted the demand adversely.
– Government bodies are setting packaging requirements for food companies by making changes to comply with the regulation of beauty and personal care. New rules and regulations are made for milk, juice, and other beverages. Innovative pack design is seen in beauty and personal care. There is a growing focus on environmentally-friendly packaging.
Scope of the Report
There is a rise in eco-friendly packaging in the region as the number of international brands offering chemical-free, organic and natural products in the United Arab Emirates is increasing. In some categories of home care, the type of packaging used varies according to the usage of the product. For example, most manufacturers of fabric softeners use PET packaging as it gives the feeling of softness compared to HDPE. Packaging redesigns and innovative shapes of packaging have been adopted to promote a premium image. Manufacturers have launched products with premium packaging in many categories.
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Key Market Trends
Food Sector Expected to Witness Significant Growth
– The adoption of sustainable packaging is one of the vital food packaging market trend in UAE that will impact the growth of the market in this region. Factors contributing to the growth in this region are increasing demand for convenience by consumers, increase in disposable income, and changing consumer behavior. Disposable income and improved global flight connectivity have further augmented the regional market demand.
– There is a growing demand for packaged food by consumers owing to changing eating habits, and the quickening pace of life is expected to have a major impact on the industry. The product offers extended and stable shelf-life, high barrier properties, and safety, thereby boosting industry growth. Food safety is one of the primary factor driving the market as the quality of food is a significant issue faced by manufacturers and consumers of food products.
– With rising environmental and health concerns due to the accumulation of non-biodegradable waste, companies are focusing on adopting sustainable packaging options. For instance, Bemis, a leading food packaging company introduced BMET metalized sealant films, having 30% less material weight than usual 3-ply films that replace materials such as metalized OPET, OPP, or foil.
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The packaging industry in UAE is neither fragmented nor consolidated. The presence of some of the local producers, the raw material has helped in allowing the market to reach such structure. Many companies are investing in R&D activities across the country to help the industry to grow further.
– May 2019 – Amcor Limited and Bemis Company, Inc. announced that regulatory clearance has been received from the US Department of Justice in relation to the combination of the two companies. A condition of this approval is the previously announced sale of certain Amcor assets located in the US to Tekni-Plex, Inc.
– February 2019 – Amcor Limited launched Genesis, a new in-store recyclable laminate solution. Targeting at a wide range of segments, including fresh fruits and vegetables, frozen food, dried fruits, nuts, confectionery, chilled goods, and pet food. The product is adaptable to a variety of packaging types and is appropriate for specific medical, home, and personal care markets.
– February 2019 – Gulf Printing and Packaging is paving the path for future growth as they are looking for scope in the food packaging market and they are planning to have further expansion in the future.
– January 2019 – Amcor Limited and Danone partnered to develop a new package for its new all-natural spoonable yogurt sold in Argentina. The new PET jar supports the 100% natural positioning of Danone’s La Serenísima’s yogurt, with featured engraving, a finely finished base, and a body-wrap label.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
Some Major Points from Table of Contents:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’s businesses with multifaceted advantages result in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Industry Research is the credible source for gaining the market reports that will provide you with the lead your business needs.
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