Following PCI Films Consulting's assessment that Europe's converted flexible packaging market fell 3% in value to €10.4 billion in 2009, the firm projected 4–5% value growth in 2010 as converters rebuilt customer inventory, passed through rising raw-material costs, and captured modest real volume gains. Area demand had already edged up 1% in 2009 despite recessionary headwinds, underscoring food and pharma packaging resilience.
Paul Gaster noted raw-material costs "rose very strongly" in 2010 after 2009's deflationary relief, squeezing converter margins even as top-line sales recovered. Medium-term PCI outlook through 2014 anticipated roughly 2.5% annual European growth—slower than pre-crisis trends but positive amid continued downgauging and sustainability initiatives from major brand owners.
Amcor's integration of Alcan Packaging assets left it dominating European flexible packaging with nearly 25% share, according to PCI's 2009 report. Competitors including Constantia Flexibles, Mondi, and regional mid-size converters responded with niche investments in high-barrier films, retort pouches, and Eastern European greenfield sites.
Bemis's parallel consolidation in the Americas via the March 2010 Food Americas closing—and July Exopack divestiture—mirrored the global pattern PCI described: scale players absorbing multi-plant networks while regulators carved out product-specific divestitures to protect customers.
For capital equipment planning in late 2010, European converters balanced PCI's recovery forecast against lingering drupa 2008 order trauma. Projects approved tended to be modular—slitter upgrades, solventless laminators, or single color stations—rather than full greenfield CI flexo halls, though Asian capacity additions continued at a faster pace per PCI's emerging-market reports.