China to lead BRIC flex pack growth to 2016

- China CAGR to be 16.5% to 2016

The flexible packaging markets in Brazil, Russia, India and China, collectively known as the BRIC countries, will continue to grow between 2012 and 2016, with changing food habits, growing urbanization and functional convenience the major drivers of the flexible packaging market according to a new study.
 
The Strategic Insights and Future Growth Potential of Flexible Packaging in BRIC study, produced by BRICdata, states that BRIC markets play a significant role in the global flexible packaging industry.
 
The flexible packaging industry in the BRIC countries posted healthy growth over the review period from 2007 to 2011, and will continue to do so from 2012 to 2016 according to the study.

Growth by market

By market, the study suggests that Brazil’s flexible packaging market will record a compound annual growth rate (CAGR) of 7.67 percent to 2016, Russia’s flexible packaging market is projected to grow at a CAGR of 6.62 percent and the Indian flexible packaging market at 12 percent CAGR.
 
China’s flexible packaging market will record the highest growth of all the BRIC countries, with a projected CAGR of 16.52 percent over the forecast period.
 
The study notes that the Chinese flexible packaging market, as well as leading growth in the BRIC countries, also ranks among the leading flexible packaging markets globally.
 
It also states that the packaged food industry is the major end-user market for flexible packaging, and that changing food habits, growing urbanization and functional convenience are the major drivers of the flexible packaging market.
 
Read more on the Asia-Pacific packaging market here
Read more on the South America packaging market here