China Packaging Market Outlook

The chinese packaging market is estimated to grow at a cagr of around 6.6% during the forecast period 2018-2032. this is attributed to the increasing demand for convenience foods and the growth of e-commerce in the country. the increasing demand from food & beverage, consumer goods, and healthcare industry are some of the other factors driving the growth of the market. the government of china is also promoting the development of the packaging industry, which in turn is providing impetus to the market. the rising urbanization has changed the lifestyle of the consumer in china, leading to more demand for convenience food and beverage which is driving the need for specialized packaging. with the rapidly growing geriatric population, the chinese healthcare industry is expected to be among the fastest growing in the world. this in turn is driving the demand for pharmaceutical packaging solutions which is expected to be a lucrative market in the region. the chinese government’s regulations on the use of eco-friendly packaging is also influencing the market demand. companies are emphasizing more on the use of sustainable and recyclable packaging materials, which is expected to drive the chinese packaging market growth. moreover, the advancement in technology and increasing automation is expected to influence the growth of the market in the forecast period. however, the cost of raw materials in the production process of packaging is expected to be one of the major restraining factor in the growth of the market. the complexity of counterfeiting products and regulations on product packaging for export purposes is also expected to hamper the growth of the chinese packaging market during the period 2018-2032. the chinese packaging market is highly competitive and the vendors are continuously investing in the research and development of new packaging technologies. the competitive landscape in the market consists of prominent players such as tetra pak international, amcor ltd., smurfit kappa group, sealed air corporation, crown holdings, ball corporation, and multi-color corporation.