Freedonia predicts that plastic packaging will climb 2.4% pa over the next three years. The report also states that total demand for paper and plastic in competitive packaging markets is projected to increase 1.3% pa to 26.1 bln lbs in 2012.
The fastest market share increases for plastics will occur in pet food and soy beverage packaging. The sectors that are expected to improve include protective packaging, dairy, fruit beverage and frozen food. Freedonia forecasts that material enhancements that extend shelf life and increase durability, along with reduced material usage and the addition of convenience features such as resealability and steam cooking will fuel opportunities for plastic packaging.