MENA Region Drives Food Packaging Demand , Article
The packaging market in the Middle East and North Africa (MENA) region was valued at approximately USD 41. 1 billion in 2014 and is forecast to grow at a CAGR of 5 percent to USD 52.4 billion by 2019, according to a new market study by Smithers Pira. Food represents the largest end use sector for packaging products . In the GCC, packaged food industry was valued at USD 25 billion in 2013 and is projected to increase at a CAGR of 8.5 percent till 2018. Factors behind the growth include higher economic activity, rising real incomes , urbanization, and a relatively young and growing population , in addition to further development of the retail infrastructure in several countries.