Market Trends of EMEA Corrugated Board Packaging Industry
This section covers the major market trends shaping the EMEA Corrugated Board Packaging Market according to our research experts:
Processed Foods Segment to Occupy Significant Market Share
- The need for convenience foods is anticipated to grow owing to the busy lifestyle of people in the EMEA. Hence, processed food, which gets cooked in a short while does attract consumers. The growing population is also expected to drive the demand for processed food, which is convenient as well as healthy.
- According to Natural Products Global, consumers in the UK buy more ultra-processed food than any others in Europe, amounting to 50.7% of the diet. But several other countries aren’t far behind – Germany at 46.2%, Ireland 45.9%, Belgium 44.6%, and Finland 40.9%. Generally, countries in southern Europe have lower levels of ultra-processed food in the diet - Portugal at 10.2%, France 14.2%, Italy 13.4%, and Greece at 13.7%.
- According to Statbel, in 2018, there was nearly 8,000 VAT paying companies producing food in Belgium. Of these companies, just under 4,600 produced bakery and dough products, making it the largest subsector in the food manufacturing industry in Belgium. Furthermore, there were almost 1,000 companies producing meat products.
- The increasing realization among users regarding the practice of environment-friendly products is anticipated to drive the demand for the corrugated board packaging market in EMEA, over the forecast period.
- Government drives for stimulating eco-friendly packaging materials, coupled with the efforts from CPA (The Corrugated Packaging Alliance), a corrugated industry initiative, with an aim to strengthen corrugated packaging are providing an added stimulus to the growth of this market.
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Beverage Segment is Expected to Hold Significant Share
- The beverage industry plays an indispensable role in the EMEA region. The principal determinants pushing the beverage industry's growth in the area incorporate a steadily growing population and per capita revenue and improving lifestyle.
- Determinants, such as huge disposable income, the comfort of availability, advancement in living standards wide variety, and attendance of domestic as well as global companies in the market, are feeding the beverages industry in the region. For example, according to trading economics, customer spending in Germany rose to EUR 428.5 billion in the last quarter of 2019, from EUR 419.9 billion in the previous quarter of 2018.
- Many of the preeminent brands in Europe have a family of fruit and sweet-flavored non-alcoholic beverages, and these are the most prevalent products. Additionally, the EMEA has launched an initiative that promotes businesses to cut sugar, salt, and fat content in food and beverages. Companies that have vowed to follow this include Mars and Nestle, among others. All these factors are consequently fueling the growth of the market.
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