(MENAFN- America News Hour)
The packaging industry in Spain is expected to register a CAGR of 12% during the forecast period of 2022-2031. The packaging industry in Spain comprises of more than 2100 companies that employ over 70,000 workers. These numbers are expected to increase in the near future.
– The increasing demand for craft beers with a desire for a quality product is expected to drive the packaging industry in the region. For instance, Pertainer in 2017, for its PET packaging did see an increase in demand from micro and craft brewers in Spain and Portugal.
– The rising need for small and more convenient packages, exceptional presentation and strong visual impact are some of the factors that would contribute to the growth of the packaging industry in the region.
– For instance, Sealed Air's vacuum packaging the Cryovac VST tray skin which uses a soft vacuum that does not distort the tray support offering a balance between cost and quality, thereby ensures the shelf life of the product and a reduction in retail shrinkage due to the strong oxygen barrier properties of top film has proved to be a success for Globalimar, the fish and seafood processor.
– However, certain regulations imposed by the government to preserve the natural habitat from getting polluted which would affect the growth of the packaging industry in over the forecast period. For instance, in April 2019 the Canary islands a Spanish archipelago have imposed International Standards for Phytosanitary Measures No. 15 (ISPM 15) compulsory for wood packaging and pallets on all their imports and exports.
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Scope of the Report
The activity of enclosing and protecting the products from getting damaged during transportation, distribution, storage, sale, and use is known to be as packaging. marketers consider packaging an essential tool for sales promotion. This report segments the market by type of packing materials , by layers of packing, end-user industry, and geography.
Key Market Trends
Paper Based Packaging is Expected Hold a Significant Share
– In order to protect, preserve, and transport a wide variety of items, paper-based packaging is an efficient and cost-effective method. There are various types of paper packaging which are used by many end-user industries such as Containerboard, paperboard, paper bags and shipping sacks.
– After realizing the benefits of paper packaging many companies have now started launching their products in a paper-based packaging which are recyclable. For instance, in March 2019, Nestle, in 5 different European markets including Spain announced the launch of a new Nesquik All Natural powder which features simplified natural ingredients that comes in a recyclable paper pouch.
– Recycling of packaging materials has been quite troublesome especially when it comes to plastic materials which in turn would give a boost to materials like paper that are easy to recycle giving rise to the usage of paper packaging in the region.
– For instance, in January 2018, Smurfit Kappa Group completed construction of its new paper recycling plant in Malaga, Spain With a processing capacity of 30,000t of recovered paper a year. This facility would allow the company to tap into the growing shift towards paper-based packaging solutions driving the demand for corrugated packaging.
Food and Beverage Industry to Contribute Significantly for the Growth of Packaging Industry
– With special attention given to the quality, traceability, and safety of the food products processed, Spain enjoys a modern food processing sector focusing mainly on the domestic. This is expected to boost the market in the region over the forecast period.
– Due to the improved economic environment, and the increased disposable income in the hands of the people is one of the significant factor fueling the growth of the packaging industry throughout the forecast period. For instance, in 2017, the Spanish food retail sales USD 118.7 billion.
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– Some of the prominent players in the packaging industry are expanding their footprint in the region which is expected to fuel the demand for the packaging materials across the industry.
– For instance, in September 2018, Crown Holdings, Inc. the leading provider of packaging products announced the building up of a new plant in Spain's Valencia region for the production of aluminum beverage cans.
The rivalry among the players in the packaging industry is high owing to the presence of some key players such as Nekicesa packaging, Tecnocap closures, Amcor and many more. These companies, due to their ability to constantly innovate their products have allowed them to gain a competitive advantage over the other players in the industry. Heavy investments in research and development along with strategic partnerships, mergers, and acquisitions has allowed the companies to gain a strong foothold in the market.
– October 2018 – Ball Corporation has opened a state of the art production plant in Spain that produces aluminum specialty cans by using 15% less energy and 22% less water compared to an average plant.
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