Growth For Packaging And Print Label Sectors – Bucking The UK Manufacturing Trend
Growth For Packaging And Print Label Sectors – Bucking The UK Manufacturing Trend – October 2017
Despite the continued uncertainty surrounding Brexit and as UK manufacturing in general currently experiences a slowdown, the UK packaging and print label sectors in contrast continue to flourish.
Continued Confidence In The UK Packaging Sector
A recent YouGov survey of UK SMES showed that although businesses are considering cost cutting across other areas of their businesses, they are not looking to cut their packaging costs – around 95% of UK small businesses surveyed said they did not intend to cut packaging costs.
SME decision-makers have a positive opinion about the future of the packaging industry – they view packaging as a ‘business essential’ – essential to their marketing their business and their products, to branding and communication and displaying their company’s values to their customers.
There is strong market demand for all types of packaging, not only economy packaging, but also across added-value areas such as custom printed boxes and ecommerce solutions.
In 2017 the UK Packaging Manufacturing Industry had annual sales of £11bn and employed 85,000 people, 3% of the UK’s total manufacturing workforce.
UK Print Packaging & Labels – Growth Forecast
There were 8400 companies operating in the UK printing sector, employing 116,000 people and contributing £13.8bn in turnover.
Although the UK printing sector overall is predicted to decline by 0.1% per annum by 2020 (due to virtual and online media reducing the demand for printed products such as publication printing segments – newspapers, magazines, books, directories and catalogues which are declining significantly) the print packaging & label sectors are experiencing healthy growth rates. UK output is forecast to grow by 2.2% per annum through to 2020 for printed packaging and labels.
The global print label market is also estimated to experience growth to reach £32.97bn by 2021 at a CAGR of 5.91% from 2016 to 2021.
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SOURCES
Mordor Intelligence
Packaging Services
City AM
British Print
Smithers Pira
The Packaging Federation
