The global packaging industry is worth USD 424 billion; with the following global breakdown:
|
Region |
Value (in USD billion) |
Percentage (World Market) |
|
Europe |
127 |
30% |
|
North America |
118 |
28% |
|
Asia |
114 |
27% |
|
Latin America |
30 |
7% |
|
Other |
35 |
8% |
This is split between Paper 36%, Plastic 34%, Metal 17%, Glass 10% and other 3%.
The global industry is expected to grow to USD 521 billion by 2010 and to USD 597 billion by 2014
Packaging is very important as a value-adding function, not only for customers but also for the manufacturer. The added value from packaging can be divided into product value and service value. The service value is closely linked to the logistics demands on packaging and relates mainly to cost savings and economic efficiency in the supply chain. The product value is primarily related to the ease of use and increased revenue through a possible higher price or larger volumes.
Locally the packaging industry employs over 50,000 people directly and nearly double that amount indirectly.