GCC Perforated Packaging Market Outlook

Gcc (gulf cooperation council) is a regional economic union composed of six countries: saudi arabia, kuwait, uae, qatar, oman and bahrain, which have significant revenue generation from perforated packaging industry. the gcc perforated packaging market is projected to witness a cagr of 4.6% during 2018 to 2032. drivers increasing urbanization, rising disposable income of the gcc countries, escalating demand for convenience foods and beverages, growing demand for paper bags along with its expansion from retail sector to pharmaceutical and food industries is likely to increase the demand for perforated packaging in the forthcoming years. further, changing lifestyle, narrowing price gap between paper-based and plastic materials, growing demand for eco-friendly materials are anticipated to accelerate the market growth over the forecast period. opportunities the gcc perforated packaging market provides tremendous opportunities to new as well as existing players, owing to product innovation. the companies in the market are also focused on creating brand awareness through digital and print media. furthermore, vendors are looking forward to capitalize on opportunities in fragmented and unorganized sectors such as food products, beverages, retail, etc. challenges despite the opportunities, there are various challenges that exist in the gcc perforated packaging market such as lack of availability of skilled workforce, sourcing of raw materials at affordable prices, fluctuating foreign exchange rates, and distance between suppliers and customers. the high price of machine-made packaging is also expected to be a hindrance to the growth of the market. conclusion it is prophesized that the gcc perforated packaging market will grow positively during the forecast period due to the aforementioned drivers such as increasing urbanization, growing demand for eco-friendly materials, etc. additionally, investment in infrastructure, technological advancements, and availability of various packaging designs and shapes are expected to further fuel the gcc perforated packaging market growth.