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Rising demand for food exports boost Southeast Asian flexible plastic packaging market
19 June 2009
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Growth in the flexible plastic packaging market for food is a function of the growth of the food and food processing industry and growth in food exports.
Countries such as Malaysia and Thailand have strengthened their position as 'halal' food exporters and have gained a share of the export market in the Middle East, thereby, enhancing growth in this market.
New analysis from Frost & Sullivan entitled Southeast Asia Plastic Flexible Packaging Market for Food, finds that the market earned revenues of over $1.41 billion in 2008 and estimates it to reach $2.22 billion in 2015.
This is due to robust growth in the food processing sector and the rise in demand for food exports as well as an increase in the affluence of the urban population who tend to spend more on packaged food.
Countries covered in this research service are Thailand, Indonesia, Malaysia, the Philippines, and Singapore.
"There has been a boost in the processed food industry in Southeast Asia, owing to the modern lifestyle food needs of customers," says Frost & Sullivan research analyst Sushmita Mahajan.
"A mushrooming urban population drives demand for packaged food, consequently triggering the demand for packaging."
Increasingly, rigid packaging is being replaced by flexible packaging.
The traditional benefits of rigid packaging can now be achieved with flexible packaging with the added advantages of lower cost and greater flexibility.
Stand-up pouches and re-closable packs offer merchandizing advantages and other marketing benefits to fast-moving consumer goods (FMCG) manufacturers, similar to other rigid forms of packaging.
"There are many food manufacturing multinational corporations (MNCs) that have set up their manufacturing base in Southeast Asia and source their packaging needs locally," explains Mahajan.
"This aids the growth of the packaging industry."
Countries such as Malaysia and Thailand have strengthened their position as 'halal' food exporters and have gained a share of the export market in the Middle East, thereby, enhancing growth in this market.
New analysis from Frost & Sullivan entitled Southeast Asia Plastic Flexible Packaging Market for Food, finds that the market earned revenues of over $1.41 billion in 2008 and estimates it to reach $2.22 billion in 2015.
This is due to robust growth in the food processing sector and the rise in demand for food exports as well as an increase in the affluence of the urban population who tend to spend more on packaged food.
Countries covered in this research service are Thailand, Indonesia, Malaysia, the Philippines, and Singapore.
"There has been a boost in the processed food industry in Southeast Asia, owing to the modern lifestyle food needs of customers," says Frost & Sullivan research analyst Sushmita Mahajan.
"A mushrooming urban population drives demand for packaged food, consequently triggering the demand for packaging."
Increasingly, rigid packaging is being replaced by flexible packaging.
The traditional benefits of rigid packaging can now be achieved with flexible packaging with the added advantages of lower cost and greater flexibility.
Stand-up pouches and re-closable packs offer merchandizing advantages and other marketing benefits to fast-moving consumer goods (FMCG) manufacturers, similar to other rigid forms of packaging.
"There are many food manufacturing multinational corporations (MNCs) that have set up their manufacturing base in Southeast Asia and source their packaging needs locally," explains Mahajan.
"This aids the growth of the packaging industry."
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