China's packaging machinery set to grow in next 10 years
6. The total industrial value of the packaging sector in China is expected to reach CNY 450 billion ($55.8 billion) during the 2006-2010 period with an annual growth of 7%.
Jan 11, 2006. /Lesprom Network/. The total industrial value of the packaging sector in China is expected to reach CNY 450 billion ($55.8 billion) during the 2006-2010 period with an annual growth of 7%.
Industry insiders said that the growth forecast is based on the ever-increasing demand for instant foods including micro-oven, leisure and frozen foods, directly promoting the development of food packaging and related machinery industry.
During the 2011-2015 period, the total output value of the country's packaging sector will be up to CNY 600 billion with an annual growth of 6%, the industry sources said.
In product breakdown, by 2015, the production of paper packaging products will be 36 million tonnes; plastic packaging products, 9.46 million tonnes; metal packaging products, 4.91 million tonnes; and glass packaging products, 15.5 million tonnes. Meanwhile, the production of packaging machinery will be 1.2 million units or sets during the same period.
At the same time, China's packaging sector will introduce high-grade raw packing materials and machinery or equipment from the outside in the coming 10 years so as to adjust its industrial structure, lower the consumption of products, and improve the product quality.