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Total volume consumption will rise at a greater rate of 4.0% year-on-year from 29.9 million tons to 36.4 million tons by 2024.
June 24, 2019
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
New research from Smithers Pira, “The Future of Flexible Packaging to 2024,” charts how total sales for flexible packaging worldwide will reach $228 billion in 2019 and grow at an annual average rate of 3.3% reaching $269 billion in 2024. Total volume consumption will rise at a greater rate of 4.0% year-on-year from 29.9 million tons to 36.4 million tons across the same period. Flexible formats will continue to innovate across the forecast period and will successively penetrate new end-use applications as brand manufacturers embrace these products. The industry is also having to respond to increased demand for sustainability in packaging with improved material selection and green design principles.
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