Global Packaging Demand will Exceed the 100 Million Us dollars Mark in 2021

After a slowdown in 2020, the global packaging market has resumed steady growth in 2021 due to the interference of multiple end-use industries by Covid-19.

At the same time, data shows that China is still the world's largest market.

    In the next five years, North America’s expansion rate will be the slowest, and the rapid recovery of China’s economy and consumption will make Asia a major contributor to world economic growth.

Globally, the sales of cardboard packaging box, corrugated box, folding cartons and liquid packaging are expected to grow at the fastest rate in the next 5 years. This can be attributed to several factors. The first is the increasing preference for fiber packaging, which is consistent with the brand owner’s sustainable development goals and legislation focusing on the transition to a circular economy model. Cardboard packaging, especially corrugated cardboard, has benefited from the surge in e-commerce sales during the epidemic.

At the same time, the use of folding cartons will increase in four areas-luxury goods, pharmaceuticals, beverages and retail food.