By Dr. Cameron Chai
Visiongain, an independent business intelligence company, has published a forecast report on the global fast moving consumer goods (FMCG) packaging market from 2012 to 2022.
According to the report, the market is expected to reach $485.4 billion in 2012. The industry experiences regional and demographical changes and hence the market is expected to meet several challenges. Slow growth in the established markets of Western Europe and North America has created challenges for FMCG brands. It is essential that FMCG brands identify solutions to enhance their added value via product and packaging innovations in developed markets. Manufacturers of FMCG packaging need to customize sizes and target both the lower income section and the increasing middle class section.
Growth of the FMCG packaging market will vary across regions: developed markets are now maturing and emerging markets are essential for the market growth. Additionally, changes in the demographics of the global population, as well as population ageing are anticipated to induce growth in the healthcare FMCG packaging sector. In developed markets, the consumer’s spending capacity has been impacted by the economic downturn. FMCG firms are forced to decrease margin due to increase in price of raw materials. Innovation helps to boost these margins, while increasing the research and development costs. Another factor that impacts the consumption of FMCG products is digitalization. Social networks are being used to inform about the FMCG brands to consumers.
The report includes in-depth study of characteristics, applications and advancement of the FMCG packaging; integrated micro- and macro-analysis of strengths, weakness, opportunities and threats faced by major shareholders in the market; and opinion from major leaders in the FMCG packaging market.