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Plastic packaging accounts for much of the packaging market. In the Middle East, plastics’ share of the market is growing steadily at a rate above the global average, offering opportunities for both plastic and packaging manufacturers. The growth is largely fuelled by the pharma sector’s need to find safe, reliable alternatives to glass packaging, and by the increased demand for processed foods. This paper discusses some of the reasons for the growth of the plastic packaging segment, and highlights the need for companies to focus on innovation and efficiency to take advantage of market growth.
The lower price of oil in recent years means that plastics are cheaper to produce. Combine the lower costs with their functionality, and plastic is clearly an attractive product for packaging, especially in the food and beverage, and pharmaceutical sectors. That said, even though only a small percentage of plastic is currently being recycled, pressures to recycle and reuse more plastic, from both the general population and governments, are increasing. For conversion and packaging companies to thrive, they will need to be innovative, and able to convince consumers that they are contributing to sustainable plastic production and use.