PCI Films: North America grows twices as fast as Europe

UK The North American and European flexible packaging markets at USd 20.7 billion and USd 16.4 billion, together account for approaching half of the global consumer flexible packaging market of around USD 76 billion in 2013. However, recent research by PCI Films shows that growth in North America at around 4% p.a. by value is currently twice as fast as that experienced in the last year in Europe. Experts at PCI Films Consulting believe that this situation is likely to endure even while the annual spend per capita is much higher in North America, than in Europe. While demand in Eastern Europe continues to grow by over 5% p.a. in value terms, underpinned by strong growth in Russia and Poland, growth in the more mature Western Europe is currently running at less than 1.5% p.a.
There are a number of reasons for the divergent growth prospects for North America and Europe:

• While some West European countries are seeing some economic growth, many others are still suffering low or negative growth – adversely impacting on employment and consumer spending.

• In Eastern Europe, which currently accounts for less than 20% of Europe’s overall flexible packaging demand, a number of smaller national markets are either static or actually declining as they continue to face difficult economic problems.