Slide of the month (SOTM) July. Plastic packaging in Nigeria
This slide of the month tries to shade some light on the plastic packaging sector in Nigeria. Nigeria’s packaging industry is projected to be worth $294 billion by 2020, up from $178 billion in 2012. Local market experts further suggest the market is 15 years behind India and about 30 years behind Europe but it is on a steady growth path as innovative solutions are being introduced into the market from across the world. By far, BOPP is the most utilized packaging material used in Nigeria followed by PE which has very diverse applications, same as BOPP. Plastics top the chart for most preferred packaging product used by manufacturers in Nigeria with soft drinks, beverages (currently at 10% CAGR) and personal/home care products driving this trend.