When I've traveled to China to attend the Chinaplas show, something always sticks out to me: the market is hungry for new packaging. The country has seen a fast development in packaging market size, with projections that it will only continue to grow. In fact, a report by Smithers Pira claims that by 2020, the China's foodservice packaging market will be bigger than that of the U.S.
This growth is due to a transition from its traditional shops to a more Western-style supermarkets and packaged foods.
The Chinese food packaging market rose from almost $18 billion in 2007 to over $33 billion in 2012, according to Smithers Pira. Drinks packaging will rise at a CAGR of 8% until 2018, driven by increased consumption of plastic and canned beverages.