Packaging Industry In South Africa - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The South Africa packaging market is anticipated to convert to an extraordinary growth region for the packaging industry registering a CAGR of 7.5% during the forecast period 2021 - 2026, with demand being driven and determined by increased markets for consumer products, growing individual incomes, an increasing population of young consumers and rising domestic economic state. Antagonistic to some commonly held perceptions, the region's growth is expeceted not be chiefly driven by commodities. For instance,eight of the twelve fastest-growing economies in Africa don’t depend on natural resources for their prosperity.
Key HighlightsThe South Africa packaging market is moderately competitive and consists of some major players. In terms of market share, few of these major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
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