February 21, 2011
Bharatbook.com includes latest report report on “The Plastic Packaging Market Outlook in Food and Drinks” The plastic packaging market for food and drink will continue to outperform all other materials ( http://www.bharatbook.com/detail.asp?id=169843&rt=The-Plastic-Packaging-Market-Outlook-in-Food-and-Drinks.html ) – reaching $172.1 billion globally by 2014 – up from $147 billion in 2010, finds Business Insights.
Research report on “The Plastic Packaging Market Outlook in Food and Drinks” by the independent market analyst has revealed that the growth will continue to be led by Europe which currently accounts for more than 38% of the total market.
Michael Randle, analyst at Business Insights said: “Growth in Europe has been fuelled by innovation caused by manufacturers trying to meet the demand for ethical packaging solutions. As a result there has been a move to towards lightweight PET as one of its advantages is that it takes up less space in landfills. In fact in 2010 nearly 45% of new products in plastic packaging took place in Europe.”
Business Insights believe that plastic will continue to lead the market for food and drink packaging because it is hard for other materials to compete. Cost will continue to be a key trend in food and drink packaging over the next five years and as plastic is both cheaper than glass and metals like aluminum and generates less solid waste during production and recycling it will remain very attractive to manufacturers.
Flexible packaging is another trend which Business Insights predicts will pick up pace and plastic is able to outperform alternatives in this area. Again it’s all about waste and flexible packaging like plastic pouches take up less landfill space. However, one trend that is likely to lead packaging for food and drink in the future is product safety. Traditionally this is where plastic has caused concerns as it hasn’t been considered as safe as glass or metal due to its ability to leak chemicals.
Mr Randle continued: “Technologies like multi-barrier coatings and oxygen scavengers, which help strengthen the properties of the plastic and help to stop any leakage, are already starting to help drive growth. However, the adoption of emerging technologies like nanotechnology could prove to be a turning point as they are suitable for products that are highly sensitive to air and moisture like nutraceuticals which are becoming increasingly popular with consumers.”
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