Market Trends of Middle East And Africa Flexible Plastic Packaging Industry
The Food Industry is Expected to Dominate the Market
- The Middle East, encompassing nations like Saudi Arabia, the UAE, South Africa, and Egypt, is witnessing a surge in food demand. This uptick can be attributed to the increasing population, shifting consumer lifestyles, and a heightened need for processed and packaged foods. Data from the IMF reveals that the Middle East's population is expected to reach 258.27 million in 2024 from 254.18 million in 2023.
- The Middle East is witnessing a rising appetite for snack products and baked goods. This trend is a response to the working population's increasing preference for convenient food options. Consequently, there is a notable uptick in demand for customized pouches featuring innovative zippers for added convenience, as well as pillow packs tailored for chip packaging.
- The region is also experiencing a surge in demand for artisanal confectionery and candy products. These products, often found in stand-up pouches, pillow bags, and printed laminates, are driving market growth.
- Additionally, as the region's food service sector expands, offering a diverse array of global cuisines, and tourists show varied food preferences, the demand for flexible plastic packaging solutions is on the rise. Alpen Capital, a financial institution in the UAE, projects that food consumption in GCC countries will reach 56.2 million metric tons by 2027.
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Saudi Arabia is Expected to Hold a Significant Market Share
- Several key factors, including growing urbanization, a surge in tourism, economic expansion, and a shift toward Western lifestyles in Saudi Arabia, are fueling growth in sectors like food, beverages, cosmetics, and pharmaceuticals. In 2024, Saudi Arabia's purchasing power parity, as reported by the International Monetary Fund (IMF), reached 70.33 thousand, up from 68.31 thousand the previous year.
- Government investments are a primary driver behind the burgeoning healthcare sector in Saudi Arabia. The International Trade Administration highlighted the government's ambitious plan to infuse over USD 65 billion into the nation's healthcare infrastructure by 2030, setting the stage for substantial growth in the flexible packaging market.
- The surging demand for cosmetics and personal care items in Saudi Arabia can be attributed to factors like increased digitalization, rising consumer purchasing power, and evolving cultural norms. This demand is particularly pronounced for skincare and makeup products, especially those packaged in flexible films, spouted pouches, and high-barrier laminates, driving market expansion.
- Furthermore, Saudi Arabia's robust trade activities, as detailed by the IMC Chamber of Commerce and Industry, are bolstering market growth. Notably, the nation's top export partners, including China, Japan, India, South Korea, and the United Arab Emirates, are pivotal contributors to its economic trajectory.
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