Africa Packaging Market 2022 Global Insights and Business Scenario – Astrapak Ltd (RPC Group), Nampak Ltd., Mondi Group, Mpact Pty Ltd, Foster Packaging

Market Insights Reports has added new statistical data to its repository titled as, Global Africa Packaging Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Africa Packaging market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The Africa packaging market is expected to reach a CAGR of 8.4% during the forecast period (2021 - 2026). 

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Top Key Players in the Global Africa Packaging Market is - Astrapak Ltd (RPC Group), - Nampak Ltd., - Mondi Group, - Mpact Pty Ltd, - Foster Packaging, - Consol Glass (Pty) Ltd., - East African Packaging Industries Ltd (EAPI), - Constantia Afripack (Pty) Ltd, - Tetra Pak SA, - Bonpak (Pty) Ltd., and others. 

Industry News and Update:

- In May 2020 - Tetra Pak, food processing and packaging solutions company acquired South African based asset management company Gaussian to enhance its existing outcome-based solutions for customers.

- In April 2019 - Amcor launched unique, recyclable, high-barrier flexible packaging that can reduce a pack’s carbon footprint by up to 64%.

Key Market Trends:

Glass Bottles to Drive the Market Growth

- Glass containers and bottles are widely used by the end-user industries, like pharmaceutical, food and beverage, and wine. As more and more world population is turning toward eco-friendly solutions to increase their contribution, glass packaging is seen as an endless recyclable alternative to plastic packaging. Glass can be 100% recycled and reusable, without losing quality. According to a survey by G&S Business Communications, glass bottles and jars came out on top, with 57% of the US consumers believing that it is the most sustainable.
- South Africa is a wine consuming country. In 2018, according to a report published in Business Insider, 450 million liters of was sold in South Africa, 177 million liters (about 39%) of which were sold in glass bottles. Although the international trend is shifting toward wine in cans, The country is expected to continue to be a strong glass market for a significant amount of time before can follow.
- The African glass bottles and container market is highly competitive, and the players fail to streamline their operations are exiting the business. Nampak, a South Africa-based diversified packaging manufacturer, has been forced to sell its glass business due to high fixed cost and expenditures, leading to inadequate financial returns. It was sold to Isanti Glass (owned by Kwande Capital) for ZAR 1.5 billion.
- One of the major drivers of glass bottles is the growing drive by the local tourism industry to stop using plastic bottles. This is expected to create a huge opportunity for companies to produce glass in the region. Moreover, according to Glass Recycling Company (TGRC), the current rate of glass recycling in South Africa is 44%, further adds to the growth of the market.

Africa Packaging Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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This Global Africa Packaging Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Global Africa Packaging market:

– What are the recent developments and government policies?
– Why might we forecast a downturn in a particular economy next year?
– Why do we say the currency is set to appreciate?
– What countries and sectors offer the highest potential?
– Where are the greatest dangers?              

We Also Offer Customization on report based on specific client Requirement:

– Free Country Level analysis for any 5 countries of your choice.

– Free Competitive analysis of any 5 key market players.

–  Free 40 analyst hours to cover any other data point

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.