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Middle East And Africa Package Testing Market -By Primary Packaging Material, Packaging Services, Countries And Vendors [EMBIN (Emerging Markets Business Information News](EMBIN (Emerging Markets Business Information News) Via Acquire Media NewsEdge) The economy of the Middle East countries grew from 3% to more than 5% in 2012 and the inflation rate has remained relatively constant. This gives the consumer more money in hand to spend on products from the markets. Packaging and Lifestyle issues go hand in hand. Middle East has one of the highest GDP per capita, so the consumers have more disposable income to spend on e-commerce retail, luxury retail and retail in stores. With the increase in sales of products the packaging market will be growing to cater to the needs of both the consumers and retailers. Countries like Qatar have GDP per capita more than $100,000 so as the purchasing power increases so does the packaging market. With this increase in demand for packaging, the package testing market will also grow at a rapid rate to ensure that there is no let up from the international standards for packaging of goods. Africa is on the rise. Economy, for the most part, is booming given the relatively stable political scenario in the region. Africa's GDP growth from 4.7% in 2013 to 5.2% in 2014 and the FDI growth of 16%, reaching $43 billion in 2014, shows a positive economic trend. Countries across Africa, from mineral-rich Sierra Leone and Congo to agrarian economies like Ethiopia and Rwanda, have shown growth across multiple macro-economic parameters. With inflation in the region going down from 10.7% in 2013 to 6.2% in 2014, domestic spending is on the rise. Retail, from e-commerce to mom and pop stores, has racked up the biggest gains. Packaging in Africa is fast catching up to meet the growing needs of a continent that is booming with investment from a vast number of foreign players. Given the relative lack of proper infrastructure, the vast distances that goods need to be transported over land from a few international ports make packaging a necessity. We need packaging for all these markets and should maintain international standards. All types of packaging needs to be tested to ensure that the package remains safe during the transportation. The packaging testing market will ensure that the packaging is up to the international standards. Consumers are now more informative than before. They are now demanding products which have better shelf life, meets regulations and norms set by different government agencies and have been procured ethically. Packaging and labeling helps increases consumer's confidence in the product and increases the brand value of the company. A business is no more entirely dependent on a country or a region. Deals are being signed across the continents and products are being sold in different regions. For such products to be transported and meet the requirements for sales, it is necessary packaging is robust and follows certain parameters set by different agencies. Package Testing companies test different packaging products by doing several tests on products like drop test, shock test, vibration test, shelf life testing to name a few. Only when a package passes through these tests, it is allowed to be shipped or used for commercial use. While missing and underdeveloped supply chains remain an obstacle for rapid growth in demand for flexible packaging in the region, the opportunities for vertical growth in manufacturing and food processing are tremendous. Widely spread population with minimal densities could pose a challenge in the near term, although investments from countries like China are facilitating the creation of new economic hubs with much higher population densities and better standards of living. The market for package testing is still in growth stage. Though companies have their own testing labs, there are enterprises which provide package testing services. Some of the major companies in package testing are DDL, Intertek, SGS, CSZ Testing Services Laboratories, CRYOPAK, Advance Packaging, Nefab, National Technical Systems, Turner Packaging and Caskadetek. Consumers are now more informative than before. They are now demanding products which have better shelf life, meets regulations and norms set by different government agencies and have been procured ethically. Packaging and labelling helps increases consumer's confidence in the product and increases the brand value of the company. A business is no more entirely dependent on a country or a region. Deals are being signed across the continents and products are being sold in different regions. For such products to be transported and meet the requirements for sales, it is necessary packaging is robust and follows certain parameters set by different agencies. Package Testing companies test different packaging products by doing several tests on products like drop test, shock test, vibration test, shelf life testing to name a few. Only when a package passes through these tests, it is allowed to be shipped or used for commercial use. The concerns for this area are that the region is prone to be unstable. This instability caused due to extremism and terrorism affects the companies investing in the market and also spooks the future investors. With USA providing lot of support to countries from this region these fears should be allayed. As sanctions against Iran are being lifted gradually this region will grow and prosper. The market for package testing is still in growth stage. Though companies have their own testing labs, there are enterprises which provide package testing services. Some of the major companies in package testing are DDL, Intertek, SGS, CSZ Testing Services Laboratories, CRYOPAK, Advance Packaging, Nefab, National Technical Systems, Turner Packaging and Caskadetek. (c) 2014 EMBIN (Emerging Markets Business Information News) Provided by SyndiGate Media Inc. (Syndigate.info). |