Turkish packaging manufacturers aim to boost their exports to the large European market, with North America also on their radar for expansion.
Europe absorbs some 60 percent of the local packaging sector’s $7.5 billion worth of exports, said Zeki Sarıbekir, the head of the Turkish Packaging Manufacturers Association (ASD).
“However, we only meet 10 percent of Europe’s packaging needs. We can increase this figure upwards toward 20 percent,” Sarıbekir said, adding local companies have also set their sight on North America as a large export market to be exploited.
“We need to try to increase our share in some markets, such as America. China imposed a 25 percent customs tariff on packaging. There is a huge potential there, but we need to focus our attention on America.”
Per capita consumption is $325, up from $120 about 10 years ago, Sarıbekir said.
Prices will stabilize at where they were in 2019 and 2021, according to Sarıbekir.
Turkish companies earlier this month attended the Interpack fair in Dusseldorf, Germany,to explore business opportunities. After Italy and China, urkiye had the third-largest number of exhibitors at the fair.
In his earlier comments, Sarıbekir said that the market size of the Turkish packaging industry will increase from $28 billion to $30 billion and per capita consumption from $300 to $380 in 2023.
He also said that the industry aims to boost its export revenues to $8 billion.
The country’s geopolitical location and logistics infrastructure offer big opportunities to the local packaging sector to reach out to foreign markets, he added.
The industry aims to export half of its production to foreign markets, Sarıbekir said.
Sarıbekir noted that the Turkish packaging industry is aware of the obligation to keep up with the transformations in sustainability in order to continue its exports to Europe, referring to the European Green Deal.