Dubai, United Arab Emirates; 19 December 2016 – Experts see a robust print and packaging sector in the Middle East with its market value reaching $24bn in 2017.
Citing the latest exclusive data from a Smithers Pira report entitled The Future of Global Printing to 2020, Mike Simmonds, project director, Gulf Print and Pack said, “The Middle East presents a dynamic market for both print and package printing segments. Across both these industries the latest data forecasts growth well in excess of the mean regional GDP increases of around 3% per annum. Overall market value will pass $28bn by the end of the decade.”
In addition, the report sees a bright future for the industry as the packaging sub-segment will have increased to 70% of the print market by 2020.
For the consumption of packaging, the Middle East also presents a tempting market for global firms as it is the print industry’s most buoyant sector for growth. The data from another Smithers Pira report – The Future of Packaging to 2020 – forecasts a regional market worth $30.3 billion in 2017. This will expand to $36.9 billion in 2020, driven by the fastest year-on-year growth rate of any global region.
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Industrial and transit packaging, followed by food are, and will remain, the largest end-use segments – though healthcare will be the fastest growing over the next four years.
More interesting developments and opportunities in the print and package print sector will be showcased at the Gulf Print and Pack exhibition, the leading event for commercial print and package printing in Middle East and North Africa (MENA).
Among the opportunities being seen by industry stakeholders is the growth of digitization. “There is still room in the commercial print market, as digitization is still only a very small part of the overall business. If you class packaging, label and textile printing as one market segment, then you can trust that this will be the next big segment both in terms of development and opportunity. We have already seen leading manufacturers looking at investing in the industrial segment. Label, packaging and textile areas are literally untouched. There seems to be a huge scope. However, the success will not be just dependent on products. There needs to be a change in mindset, approach and skills. Industry knowledge is going to be the key,” said Pauline Brooks, marketing development manager, Konica Minolta.
Aimed at printers, brand owners and designers, Gulf Print & Pack 2017 will feature key businesses from across the full spectrum of general and package printing. Running from 26- 29 March, entry to the expo is free and pre-registration can be made by visiting www.gulfprintpack.com.