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The packaging marketplace: A global view

The Global Packaging Market, a major study by Ernst & Young, was published recently by England’s Packaging News magazine. Here, Ernst & Young’s Tim Rothwell presents an overview of the study.

Chart 1
Chart 1

The global packaging market continues to undergo significant structural change, and there can be no better illustration of this than the number of mergers and acquisitions in the sector over the past six years:

• 1996, 361 deals valued at US$11.2 billion

• 1997, 334 deals valued at US$24.9 billion

• 1998, 379 deals valued at US$28.7 billion

• 1999, 368 deals valued at US$39.0 billion

• 2000, 434 deals valued at US$55.5 billion

The number and scope of these deals is hardly surprising, taking into account that the global packaging industry is one of the world’s largest and most diverse manufacturing sectors, valued at over US$400 billion. Estimates from the World Packaging Organization suggest the industry employs more than five million people in about 100ꯠ companies worldwide. However, despite this vast scale, packaging is largely a mature sector with growth rates mirroring the global gross domestic product (GDP).

On a global scale, Ernst & Young assesses that the world packaging industry has grown by an average rate of 3.95% per annum between 1993 and 2000, compared with 3.6% for world GDP growth. (See Chart 2 for packaging industry growth rates by region.) Forecasts for 2001 suggest a slowing of both GDP and packaging industry growth.

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