The economy of the Middle East countries grew from 3% to more than 5% in 2012 and the inflation rate has remained relatively constant. Africa is also on the rise. Economy, for the most part, is booming given the relatively stable political scenario in the region. Africa’s GDP growth from 4.7% in 2013 to 5.2% in 2014 and the FDI growth of 16%, reaching USD 43 billion in 2014, shows a positive economic trend. Countries across Africa, from mineral-rich Sierra Leone and Congo to agrarian economies like Ethiopia and Rwanda, have shown growth across multiple macro-economic parameters.
The Middle East and Africa active and intelligent packaging market is estimated to grow from USD 740 million in 2016 to USD 950 million by the end of 2021 at a CAGR of 5.18%. The growth is spurred by the growing economies and increasing need for packaging.
The Middle East and Africa packaging market are witnessing a remarkable growth. Increasing demand for these packaging products because of changing lifestyles and demand from manufacturers for longer shelf life is driving this market growth. Government’s strict regulations regarding food packaging and safety standards are other such factors which are contributing to the market growth.
Packaging is also being altered to suit the needs of the fast food consumer who are rapidly replacing traditional meals with packaged foodstuff. This has increased the need for testing the packaging of products to ensure higher shelf life and the reduction of costs normally associated with damaged goods. The need to ensure the quality of the package is a key driver to the testing market as packages now need to be more durable and even a trace of toxicity is completely unacceptable especially in food and pharmaceutical sector.
The advent of globalization has necessitated the transport of goods around the world; this has made the assurance of shelf life and integrity of the package significant. Packaging is bound by regulations and standards defined by authorities like American Society for Testing and Materials (ASTM) and International Safe Transit Association (ISTA). With the evolving nature of the packaging industry, these regulations are also becoming more stringent.
Package testing companies test different packaging products by doing several tests on products. The major tests include drop test, shock test, vibration test, shelf life test and compression test. The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end user industry. Detailed estimates for the next five years are included along with the analysis of the major players and their strategies.
Some of the major companies in package testing are DDL, Intertek, SGS, CSZ Testing Services Laboratories, CRYOPAK, Advance Packaging, Nefab, National Technical Systems, Turner Packaging and Caskadetek.
Reasons to buy this report
Who should be interested in this report?
Looking to Customize Report?