Known as Dongguan Respack Innovative Material Co. Ltd (东莞铂青新材料有限公司) , we specialised in the sales and marketing of stretch film and high performance packaging materials. This is a major milestone for Respack into the emerging Chinese market as we look forward to serving a wider customer base.
This subsidiary has since started operations in October 2017.
So, why Respack China?
China has the world’s largest population, and its economy will continue to grow at a high pace: the economists predict a 6% growth, reaching around US$16 trillion by 2020. Also, an increase in per capita income (more purchasing power) will ensure China remains a dominant market in the coming years. Today, no business can afford to ignore China…
The Chinese packaging Industry is set to witness notable growth between 2017 and 2021, growing at a rate of 5.4%, compared to 4.5% during 2011-2016. Amongst other factors, the strong growth of the Chinese packaging industry will be heavily influenced by changing demographics and social factors such as growing urbanization, an aging population, and the rising middle class, along with their growing aspirations. These changes drive the need for new packaging formats, such as different sizes, materials, and formats.
The increasing demand for cheaper, lighter, and more convenient packaging makes China the ideal market for future growth.
During 2017-2021, Food and Soft Drinks packaging are expected to be the biggest market share gainers with reported growth of 3% and 2% respectively. The introduction of innovative Food and Beverage packaging materials with improved benefits such as anti-microbial properties and mechanical strength, which ultimately help to maintain product freshness for a longer time, are expected to drive the consumption of packaged food, thereby directly driving the growth of packaging materials in these two industries. In terms of the packaging material, Respack will be investing extensively to produce high-performance packaging and stretch film catering to the Chinese market.