Smithers Pira exclusive data shows that the MENA printing market will see an annual cross-segment growth of 9%, to reach $54 billion in 2022.
Sales of industrial packaging in the MENA region is projected to be valued at more than $5 billion by 2024. Sales revenue is expected to increase at a CAGR of 5.2% during the forecast period (2016–2024).
As international trade is projected to remain positive for the next five years, it is evident that there will be a significant demand for industrial packaging products across the MENA region.
Process automation in the Middle East & Africa market is expected to register a CAGR of 5.15% over the forecast period (2018-2023), according to Mordor Intelligence. Processing automation is expected to emerge as an effective entry point for manufacturing industries toward sustainable profits.
Steady growth in emerging markets, urbanization, and rising living standards are fueling demand for processed and packaged food, leading to higher equipment sales. According to Mckinsey, the food processing market in the Middle East and Africa is expected to witness an 8% CAGR (2016 – 2021).