Asia-Pacific region to become global leader for flexible packaging by 2010

Vibrant growth in food processing will catapult the Asia-Pacific region into the number one position globally, for flexible packaging by 2010, suggests a new report by PCI. PCI forecasts the surging demand within Asian-Pacific markets to continue to drive the value of the flexible packaging market to €43 bln by 2010 from €34 bln in 2005. This increase will be on account of a growing number of multinational processors in the region, that along with mature markets of Australia and New Zealand, are expected to become particularly dynamic for the food industry. The region is seen as one of the prime areas for sales growth by companies such as Nestle and Kraft - These companies rely predominantly on sourcing their packaging locally. This growing investment amongst multi-national food companies will continue to raise competitiveness within flexible packaging, and ensure the regions increasing strength in the sector. China and India are the fastest growing markets. Flexible packaging in China alone is increasing by around 15% pa. Market for flexible packaging in Indonesia and the Philippines will see 6-7% growth per annum.
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