However, recent research by PCI shows that growth in North America at around 4% a year 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 person is much higher in North America, than in Europe. While demand in Eastern Europe continues to grow by over 5% a year 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% a year.
There are a number of reasons for the divergent growth prospects for North America and Europe:
PCI Films Consulting’s view is that flexible packaging demand will continue to grow more rapidly in North America than Europe, perhaps most importantly because of the much more favourable population demographics in North America and likely economic fundamentals, over the next couple of years.
Source: PCI Films Consulting
FoodBev Media Ltd 2015