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GCC Produced 296.4 KT of Flexible Packaging Units in 2010, An 8.5 Per Cent Increase Over 2009 - Market on the upswing due to rising demand for processed foods
GCC Produced 296.4 KT of Flexible Packaging Units in 2010, An 8.5 Per Cent Increase Over 2009

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2011/04/28 - Market on the upswing due to rising demand for processed foods.

   
 
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The emerging market for flexible packaging in the Gulf Cooperation Council (GCC) could well become an established one with increasing expatriate population and government initiatives enhancing the demand for processed foods and thereby, packaging. There need for best-in-class packaging solutions and replacement of rigid packaging with flexible packaging could see the market units steadily rise from 273.2 kilo tonnes (KT) in 2009 to 480.95 KT in 2016.

New analysis from Frost & Sullivan (chemicals.frost.com), GCC Flexible Packaging Markets, finds that the market earned revenues of $0.68 billion in 2009 and estimates this to reach $1.20 billion in 2016 at a compound annual growth rate (CAGR) of 8.5 per cent. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE) and Rest-of-the-Gulf Cooperation Council (GCC) covering Kuwait, Oman, Qatar and Bahrain. It also covers various product types including polypropylene, polyethylene, polyvinyl chloride, polyethylene terephalate and others (polyamide, polyolefin and polycarbonate).

"The food industry is growing at 18 to 20 per cent annually in KSA, and pre-packaged food constitutes 50 per cent of the industry," says Frost & Sullivan Chemicals Research Analyst. "There has been a shift in attitude among the local population, especially the urbanites, who are willing to spend on processed and packaged food."

Like most other regions, the GCC is rebounding from the economic downturn and segments such as retail and consumer goods are on the upswing, creating opportunities for the flexible packaging market.

Flexible packaging scores over rigid packaging on several fronts including long-shelf life, barrier properties and aroma retention capabilities, which are essential for packaging moisture-sensitive products. Flexible packaging also offers rigid packaging's benefits of stand-up pouches and re-closable packs, which provide merchandising and marketing advantages to fast moving consumer goods (FMCG) manufacturers.

"The traditional benefits of rigid packaging can be realized from flexible packaging with the added advantages of lower cost and greater flexibility," observes the Analyst. "Consequently, plastics is estimated to account for 70 per cent of the packaging across the GCC states, against the world figure of 50 per cent."

Despite the potential for this dynamic market, it is held back by the lack of awareness about the flexible packaging solutions. There is also severe pricing pressure from film manufacturers, which is constantly eroding packaging manufacturers' margins. Therefore, small converters operating in the GCC have started procuring the raw materials from countries such as India and China due to the ease of procurement and increased credit period. To stave off this challenge from foreign countries, local manufacturers should start providing converters with a credit period as opposed to the current zero credit period terms.

"To further distinguish themselves in this intensely competitive market, manufacturers have to demonstrate superior quality and back it up with enhanced customer relationship management," notes the Analyst. "With rising commercial and consumer interest in this market through 2015, it is important to strategically position products to create brand loyalty and retain customers."

Apart from credits and maintaining cordial relations with customers, manufacturers can also beat the competition by creating product niches. The market will also get a leg up from the improved production in the GCC, which will result in the higher utilisation of flexible packaging.

If you are interested in more information on this study, please send an email with your contact details to Tanu Chopra / Deepshri Iyer, Corporate Communications, at tanu.chopra[.]frost.com / deepshrii[.]frost.com

GCC Flexible Packaging Markets is part of the Chemicals & Materials Growth Partnership Services program, which also includes research in the following markets: Green Fuels in India, GCC Construction Chemicals Market and Strategic Assessment of the Specialty Chemicals Market in GCC. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

GCC Flexible Packaging Markets / P3F7

Contact:
Anish Charles, Corporate Communications – South Asia
P: +91 22 6607 2019 / F: +91 44 24314264 / E: anishc[.]frost.com.

Nimisha Iyer, Corporate Communications – Middle East
P: +91 98200 50519 / F: +91 22 2832 4713 /E: niyer[.]frost.com.

 
 
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GCC Produced 296.4 KT of Flexible Packaging Units in 2010, An 8.5 Per Cent Increase Over 2009

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Frost & Sullivan |
Publisher Contact: Tanu Chopra / Deepshri Iyer 
+91 22 6607 2037 / +91 22 6607 2003 tanu.chopra[.]frost.com / deepshrii[.]frost.com
 
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