Market research firm also projects growth in caps, closures market
January 26, 2011
by PIC staff
CLEVELAND, OHIO—US demand for green packaging will outpace growth in overall packaging demand, according to a new report from market research firm the Freedonia Group.
Demand will rise 3.9 per cent annually through 2014, with the fastest gains in degradable packaging and plastic recycled content packaging.
In a separate report, the firm also projected growth for the global caps and closures markets.
World demand for those items will rise 4.6 per cent annually through 2014.
The report attributes some of that growth to a shift toward higher-value closures such as child-resistant, tamper-evident and dispensing types.
More than two-fifths of market gains will occur in the Asia/Pacific region, the report said.