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Global Smart Packaging Market to Reach $16.3 Billion by 2027

ReportLinker
·13 min read

Abstract: - Global Smart Packaging Market to Reach $16. 3 Billion by 2027. - Amid the COVID-19 crisis, the global market for Smart Packaging estimated at US$9. 9 Billion in the year 2020, is projected to reach a revised size of US$16.

New York, May 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Packaging Industry" - https://www.reportlinker.com/p06032912/?utm_source=GNW
3 Billion by 2027, growing at aCAGR of 7.4% over the period 2020-2027. Active Packaging, one of the segments analyzed in the report, is projected to record 6.4% CAGR and reach US$11.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Intelligent Packaging segment is readjusted to a revised 10% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $2.9 Billion, While China is Forecast to Grow at 7% CAGR
- The Smart Packaging market in the U.S. is estimated at US$2.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2027 trailing a CAGR of 7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.8% and 6.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR.

- Select Competitors (Total 35 Featured) -

  • Amcor Plc

  • Ball Corporation

  • BASF SE

  • Berry Global, Inc.

  • Coveris Holdings S.A.

  • Dansensor A/S

  • Desiccare, Inc.

  • Huhtamaki PPL Ltd

  • LINPAC Packaging Limited

  • Point Five Packaging, LLC

  • Praxair, Inc.

  • Sealed Air Corporation

  • Winpak Limited




Read the full report: https://www.reportlinker.com/p06032912/?utm_source=GNW

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for Smart Packaging by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027 and
% CAGR

Table 2: World 7-Year Perspective for Smart Packaging by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World Markets for Years 2020 & 2027

Table 3: World Current & Future Analysis for Active Packaging
by Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027 and
% CAGR

Table 4: World 7-Year Perspective for Active Packaging by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2020 & 2027

Table 5: World Current & Future Analysis for Intelligent
Packaging by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027 and % CAGR

Table 6: World 7-Year Perspective for Intelligent Packaging by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2020 & 2027

Table 7: World Current & Future Analysis for Food & Beverage by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027 and
% CAGR

Table 8: World 7-Year Perspective for Food & Beverage by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2020 & 2027

Table 9: World Current & Future Analysis for Healthcare by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027 and
% CAGR

Table 10: World 7-Year Perspective for Healthcare by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027

Table 11: World Current & Future Analysis for Personal Care by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027 and
% CAGR

Table 12: World 7-Year Perspective for Personal Care by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2020 & 2027

Table 13: World Current & Future Analysis for Automotive by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027 and
% CAGR

Table 14: World 7-Year Perspective for Automotive by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027

Table 15: World Current & Future Analysis for Other
Applications by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027 and % CAGR

Table 16: World 7-Year Perspective for Other Applications by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2020 & 2027

III. MARKET ANALYSIS

UNITED STATES
Table 17: USA Current & Future Analysis for Smart Packaging by
Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 18: USA 7-Year Perspective for Smart Packaging by Product
Type - Percentage Breakdown of Value Sales for Active Packaging
and Intelligent Packaging for the Years 2020 & 2027

Table 19: USA Current & Future Analysis for Smart Packaging by
Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 20: USA 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

CANADA
Table 21: Canada Current & Future Analysis for Smart Packaging
by Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 22: Canada 7-Year Perspective for Smart Packaging by
Product Type - Percentage Breakdown of Value Sales for Active
Packaging and Intelligent Packaging for the Years 2020 & 2027

Table 23: Canada Current & Future Analysis for Smart Packaging
by Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 24: Canada 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

JAPAN
Table 25: Japan Current & Future Analysis for Smart Packaging
by Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 26: Japan 7-Year Perspective for Smart Packaging by
Product Type - Percentage Breakdown of Value Sales for Active
Packaging and Intelligent Packaging for the Years 2020 & 2027

Table 27: Japan Current & Future Analysis for Smart Packaging
by Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 28: Japan 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

CHINA
Table 29: China Current & Future Analysis for Smart Packaging
by Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 30: China 7-Year Perspective for Smart Packaging by
Product Type - Percentage Breakdown of Value Sales for Active
Packaging and Intelligent Packaging for the Years 2020 & 2027

Table 31: China Current & Future Analysis for Smart Packaging
by Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 32: China 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

EUROPE
Table 33: Europe Current & Future Analysis for Smart Packaging
by Geographic Region - France, Germany, Italy, UK and Rest of
Europe Markets - Independent Analysis of Annual Sales in US$
Million for Years 2020 through 2027 and % CAGR

Table 34: Europe 7-Year Perspective for Smart Packaging by
Geographic Region - Percentage Breakdown of Value Sales for
France, Germany, Italy, UK and Rest of Europe Markets for Years
2020 & 2027

Table 35: Europe Current & Future Analysis for Smart Packaging
by Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 36: Europe 7-Year Perspective for Smart Packaging by
Product Type - Percentage Breakdown of Value Sales for Active
Packaging and Intelligent Packaging for the Years 2020 & 2027

Table 37: Europe Current & Future Analysis for Smart Packaging
by Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 38: Europe 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

FRANCE
Table 39: France Current & Future Analysis for Smart Packaging
by Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 40: France 7-Year Perspective for Smart Packaging by
Product Type - Percentage Breakdown of Value Sales for Active
Packaging and Intelligent Packaging for the Years 2020 & 2027

Table 41: France Current & Future Analysis for Smart Packaging
by Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 42: France 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

GERMANY
Table 43: Germany Current & Future Analysis for Smart Packaging
by Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 44: Germany 7-Year Perspective for Smart Packaging by
Product Type - Percentage Breakdown of Value Sales for Active
Packaging and Intelligent Packaging for the Years 2020 & 2027

Table 45: Germany Current & Future Analysis for Smart Packaging
by Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 46: Germany 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

ITALY
Table 47: Italy Current & Future Analysis for Smart Packaging
by Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 48: Italy 7-Year Perspective for Smart Packaging by
Product Type - Percentage Breakdown of Value Sales for Active
Packaging and Intelligent Packaging for the Years 2020 & 2027

Table 49: Italy Current & Future Analysis for Smart Packaging
by Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 50: Italy 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

UNITED KINGDOM
Table 51: UK Current & Future Analysis for Smart Packaging by
Product Type - Active Packaging and Intelligent Packaging -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 52: UK 7-Year Perspective for Smart Packaging by Product
Type - Percentage Breakdown of Value Sales for Active Packaging
and Intelligent Packaging for the Years 2020 & 2027

Table 53: UK Current & Future Analysis for Smart Packaging by
Application - Food & Beverage, Healthcare, Personal Care,
Automotive and Other Applications - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 54: UK 7-Year Perspective for Smart Packaging by
Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

REST OF EUROPE
Table 55: Rest of Europe Current & Future Analysis for Smart
Packaging by Product Type - Active Packaging and Intelligent
Packaging - Independent Analysis of Annual Sales in US$ Million
for the Years 2020 through 2027 and % CAGR

Table 56: Rest of Europe 7-Year Perspective for Smart Packaging
by Product Type - Percentage Breakdown of Value Sales for
Active Packaging and Intelligent Packaging for the Years 2020 &
2027

Table 57: Rest of Europe Current & Future Analysis for Smart
Packaging by Application - Food & Beverage, Healthcare,
Personal Care, Automotive and Other Applications - Independent
Analysis of Annual Sales in US$ Million for the Years 2020
through 2027 and % CAGR

Table 58: Rest of Europe 7-Year Perspective for Smart Packaging
by Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

ASIA-PACIFIC
Table 59: Asia-Pacific Current & Future Analysis for Smart
Packaging by Product Type - Active Packaging and Intelligent
Packaging - Independent Analysis of Annual Sales in US$ Million
for the Years 2020 through 2027 and % CAGR

Table 60: Asia-Pacific 7-Year Perspective for Smart Packaging
by Product Type - Percentage Breakdown of Value Sales for
Active Packaging and Intelligent Packaging for the Years 2020 &
2027

Table 61: Asia-Pacific Current & Future Analysis for Smart
Packaging by Application - Food & Beverage, Healthcare,
Personal Care, Automotive and Other Applications - Independent
Analysis of Annual Sales in US$ Million for the Years 2020
through 2027 and % CAGR

Table 62: Asia-Pacific 7-Year Perspective for Smart Packaging
by Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

REST OF WORLD
Table 63: Rest of World Current & Future Analysis for Smart
Packaging by Product Type - Active Packaging and Intelligent
Packaging - Independent Analysis of Annual Sales in US$ Million
for the Years 2020 through 2027 and % CAGR

Table 64: Rest of World 7-Year Perspective for Smart Packaging
by Product Type - Percentage Breakdown of Value Sales for
Active Packaging and Intelligent Packaging for the Years 2020 &
2027

Table 65: Rest of World Current & Future Analysis for Smart
Packaging by Application - Food & Beverage, Healthcare,
Personal Care, Automotive and Other Applications - Independent
Analysis of Annual Sales in US$ Million for the Years 2020
through 2027 and % CAGR

Table 66: Rest of World 7-Year Perspective for Smart Packaging
by Application - Percentage Breakdown of Value Sales for Food &
Beverage, Healthcare, Personal Care, Automotive and Other
Applications for the Years 2020 & 2027

IV. COMPETITION
Total Companies Profiled: 35
Read the full report: https://www.reportlinker.com/p06032912/?utm_source=GNW

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It may be more noticeable later this year and into 2022. By then, vaccination campaigns against Covid-19 are likely to be bearing fruit, and the world will need more oil. The expected return of Iran into the market will provide some of that, but there will likely be a need for more.When that happens, it will be largely up to OPEC to plug the gap. One signal of how the recovery will be different this time is the U.S. drilling count: It is gradually increasing, but the recovery is slower than it was after the last big oil price crash in 2008-09. Shale companies are sticking to their commitment to return more money to shareholders via dividends. While before the pandemic shale companies re-used 70-90% of their cash flow into further drilling, they are now keeping that metric at around 50%.The result is that U.S. crude production has flat-lined at around 11 million barrels a day since July 2020. Outside the U.S. and Canada, the outlook is even more somber: at the end of April, the ex-North America oil rig count stood at 523, lower than it was a year ago, and nearly 40% below the same month two years earlier, according to data from Baker Hughes Co.When Saudi Energy Minister Prince Abdulaziz predicted earlier this year that “‘drill, baby, drill’ is gone for ever,” it sounded like a bold call. As ministers meet this week, they may dare to hope he’s right.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Meituan Surges 10% as CEO Moves to Address Antitrust Concerns

    (Bloomberg) -- Chinese food-delivery giant Meituan’s shares jumped more than 10% after Chief Executive Officer Wang Xing unveiled better-than-expected financial results and detailed plans to address government concerns about its business practices.Shares surged after the company’s first-quarter revenue more than doubled from the year-earlier period, and Xing said the company is working with regulators to make changes to its business. That has kept most analysts positive on the stock even as some have slashed price targets to account for new investments.“Despite near-term overhang from regulatory headwinds, overall growth momentum across all three major business segments remains intact,” Citigroup Inc. analysts including Alicia Yap wrote in a note on Sunday.On Friday, Wang reassured investors that Meituan is working to resolve regulators’ concerns, including setting up a dedicated team to work with government officials and changing certain practices that had sparked an antitrust probe. He said he anticipates the company will be able to navigate the government scrutiny without significant negative consequences.“In terms of our day to day operation, we haven’t been significantly impacted,” the 42-year-old billionaire said during the earnings call. “This event will not jeopardize the competitive advantage of our food delivery business.”Beijing announced an investigation into the tech giant in April over alleged antitrust violations. Financial regulators then imposed wide-ranging restrictions on its fintech operations, alongside those of peers like Didi. Renewed scrutiny over the treatment of its delivery riders added to concerns that labor expenses could rise and cut into profitability.Meituan’s selloff accelerated in May after Wang posted a classical poem about book burning during the Qin dynasty that some interpreted as a veiled criticism of Beijing. The entrepreneur deleted it days later and issued a clarification that he used the poem in reference to the company’s competitors.Meituan offered a response in both its regulatory comments and its financial results. The company reported nearly 121% growth in revenue during the March quarter from a year ago, the highest increase since its listing, thanks to a strong comeback from Covid-19 lows last year. Its core food delivery business swung back to black this quarter, while ticketing and travel services have also recovered as life within China has largely returned to normal.During its earnings call on Friday, the Beijing-based company pledged to proactively work with regulators and improve its compliance standards. It also promised to provide insurance for millions of its delivery drivers -- many of them work as part-time personnel and lack proper employee benefits -- and has started to reform its commissions scheme in a move to cut fees for partner restaurants.In addition, Meituan joined Chinese tech giants such as Alibaba Group Holding Ltd. and Tencent Holdings Ltd. in promising to invest in technological innovation -- a priority set by Chinese President Xi Jinping. Meituan raised $10 billion from investors to boost its spending in autonomous delivery technology in April, days before China’s antitrust watchdog unveiled its probe into the company.“The 2Q core business outlook appears better than we feared, and we expect in-store to accelerate further,” Morgan Stanley analysts including Gary Yu wrote in a note on Sunday.(Updates share price move from first paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • How to get rid of student loan debt by refinancing the mortgage on your home

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  • U.S. tyre maker Goodyear faces allegations of labour abuse in Malaysia, documents show

    KUALA LUMPUR (Reuters) -American tire manufacturer Goodyear Tire & Rubber Co is facing accusations of unpaid wages, unlawful overtime and threats to foreign workers at its Malaysian factory, according to court documents and complaints filed by workers. In interviews with Reuters, six current and former foreign workers, and officials with Malaysia's labour department, say Goodyear made wrongful salary deductions, required excessive hours and denied workers full access to their passports. The department confirmed it had fined Goodyear in 2020 for overworking and underpaying foreign employees.

  • China's Recovery Momentum Has Passed Its Peak, HSBC Says

    May.30 -- Qu Hongbin, co-head of Asian economics research and chief China economist at HSBC Holdings Plc, discusses the state of the world's second-largest economy and its policies. A gauge of China’s manufacturing industry steadied in May. The services and construction sectors strengthened. Qu speaks on "Bloomberg Markets: China Open."

  • Turkey’s Economy Outperformed Most Peers -- But at a Cost

    (Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Turkey’s economy has grown at a strong pace this year, outperforming most large economies as it recovers from the pandemic -- an expansion that’s come at the expense of price and currency stability.Turkey grew faster than all Group of 20 nations except for China in the first quarter after nearly stalling a year ago when Covid-19 struck. It’s been bolstered by robust consumption on the back of last year’s government-led push to cut interest rates and boost lending.Gross domestic product rose 7% from a year earlier and 1.7% from the fourth quarter. The median of 22 forecasts in a Bloomberg survey was for 6.3% growth compared to the same period in 2020.There is an “exchange rate illusion” in Turkey’s economic growth data, said Enver Erkan, chief economist at Istanbul-based Tera Yatirim. GDP per capita in U.S. dollar terms has dropped nearly 40% since 2013 to around $7,700 last year, making Turkey’s economic model unsustainable as the growth is mainly driven by government spending and efforts to boost lending, he said.The government encouraged banks to ramp up loans to help businesses and consumers ride out last year’s Covid-19 crisis. The credit boom was coupled with a front-loaded easing cycle. That growth push weakened the currency by 20% last year and kept headline inflation in double digits.The currency lost a further 10% against the dollar in the first quarter, particularly after President Recep Tayyip Erdogan fired the central bank’s hawkish governor Naci Agbal in March. The decision to fire Agbal, who had sought to restore the central bank’s credibility, set off a swift reversal of investor enthusiasm, sending Turkish markets into a nosedive.Below are some more highlights from the GDP report released by the state statistics institute in Ankara on Monday:Household consumption -- estimated to account for about two-thirds of the economy -- continues to be one of the main drivers of growth. It jumped 7.4% from a year earlier.The biggest contribution to growth came from manufacturing sector, which rose 12.2% in the first quarter on an annual basis.The size of the economy grew to $728.5 billion in the first quarter from $717 billion in current prices last year.Exports rose 3.3% on an annual basis. Imports dropped 1.1%.Gross fixed capital formation, a measure of investment by businesses, rose an annual 11.4%. Government spending rose 1.3% after a 6.6% jump in the previous quarter.The economy grew by 1.7% in the last quarter from the previous three months when adjusted for seasonality and the number of working days. Overall output rose 1.8% in 2020.The data expose the challenge facing new central bank Governor Sahap Kavcioglu as he looks to restore price stability without cooling the economy ahead of the general elections in 2023.Kavcioglu pledged policy continuity after his appointment and kept the benchmark interest rate unchanged at 19% for a second meeting this month, saying the pace of price gains had peaked in April. Consumer inflation quickened for a seventh month to 17.14% in April.There may be a limited drop in the pace of growth in the second quarter, according to Istanbul-based economist Haluk Burumcekci. “Uncertainties regarding the monetary policy makes it difficult to assess the upside risks on our growth expectation of 5.5% for 2021,” he said.(Updates with chart and more details in the bullets)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Bitcoin's in a slump — here's why Warren Buffett has hated it all along

    The billionaire has never made a secret of his loathing for cryptocurrency.

  • Sunak pushes Biden for tougher global tax deal

    Rishi Sunak is pushing the United States to agree to tougher rules on the tax paid by tech giants as part of a global corporation tax overhaul. Finance ministers from the G7 will meet this week to thrash out the biggest reforms to global tax rules in a generation in a bid to ensure multinational companies pay their fair share. President Joe Biden has proposed a minimum global corporation tax rate of 15pc as well as new rules forcing the world's largest 100 companies to pay taxes based on the location of their customers, rather than where they book profits. The plans are aimed to preventing multinationals from shifting profits to low-tax jurisdictions - a growing problem that is feared will deprive governments of revenues as they try to recover from the pandemic. However, the UK is holding out on backing America's plans for a minimum corporation tax rate as it seeks more assurances over the tax treatment of big tech companies such as Facebook, Amazon and Google. The Chancellor told the Mail on Sunday: "We understand why an agreement on global corporation tax is important to our American friends. We need them to understand why fair taxation of tech companies is important to us. "There's a deal to be had and I'm urging the US - and all of the G7 - to come to the table next week and get it done."

  • Fourth stimulus check in jeopardy while the last payments keep dwindling

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  • Crypto Traders Defy China’s Crackdown With Secretive Bets

    (Bloomberg) -- Chinese investors are paying little heed to the government’s biggest crackdown on cryptocurrency trading since 2017, underscoring the challenge for Beijing as it tries to rein in a speculative boom in digital assets.Knee-jerk selling has given way to a steady recovery on over-the-counter platforms that Chinese crypto traders have used since domestic exchanges were banned in 2017. One key gauge of local sentiment -- the exchange rate between China’s yuan and the stablecoin Tether -- fell as much as 4.4% after the government’s warning earlier this month but has since recouped more than half the loss, according to crypto data platform Feixiaohao, a Chinese equivalent of CoinMarketCap.China escalated its crackdown after a frenzied surge in Bitcoin and other tokens over the past six months heightened longstanding Communist Party concerns about the potential for fraud, money laundering and trading losses by individual investors. Yet the hard-to-trace nature of transactions on local OTC platforms and peer-to-peer networks means it will be extremely difficult for authorities to enforce a wholesale ban.That may come as a relief to global crypto enthusiasts after worries about a plunge in Chinese buying power contributed to the nearly $1 trillion selloff in digital assets from record highs in mid-May.As to the losses and the crackdown, “I don’t care,” said Charles, a 35-year-old real estate consultant in Shanghai who asked to be identified only by his English first name. He’s been buying cryptocurrencies since 2017 and claims to have lost $11 million over three days in the recent pullback. “To me it’s giving back the profits I made in the past few months,” he said. “I’m looking at the 10- to 20-year horizon.”Before China outlawed crypto exchanges in 2017, local investors owned an estimated 7% of the world’s Bitcoin and accounted for about 80% of trading, according to state media. The exchange ban has made it impossible to gauge those figures today, but Chinese investors are still widely believed to have a major presence in the crypto world via domestic OTC platforms and offshore venues that they access using virtual private networks.Domestic trades involving yuan and digital coins are difficult for China’s government to track because they typically take place in two separate steps.The first happens on OTC platforms operated by firms including Huobi and OKEx, which allow traders to post bids and offers. Once both sides agree on a price, the buyer will use a separate payments platform -- operated by their bank or a fintech company like Ant Group Co. -- to send yuan to the seller. The digital coins, usually held in escrow by the OTC platform until the yuan payment clears, are then transferred to the buyer. Chinese regulators often have no way to connect one step of the transaction to the other.Because the yuan leg of the trades take place entirely within China’s domestic financial system, the risk of large-scale capital outflows is low. But that hasn’t stopped the government from warning financial firms and individual investors to stay away from crypto.Regulators this month reminded Chinese banks and payments firms of the requirement to identify and block suspicious transactions, and pointed out that facilitating cryptocurrency trades often violates banking rules. China’s State Council called for a clamp down on Bitcoin trading and mining, vowing to “resolutely” prevent financial risks.Policy makers may be keen to avoid any major market disruptions around the politically sensitive 100th anniversary of the ruling Communist Party on July 1.After the government’s statement, Huobi said it stopped its miner hosting services in mainland China and is scaling back futures contracts and leveraged investment products in some markets. It’s unclear whether the firm plans to shut its OTC platform.Chinese regulators have so far stopped short of labeling individual trading illegal, but the crackdown will involve the public security department as some of the activities were suspected to have facilitated money laundering and terror financing, according to a person familiar with the matter.Police in Beijing have distributed printed warnings about potential risks associated with cryptocurrencies. Virtual currencies are among popular means for latest scams, and anyone “in a panic, having a hard time distinguishing or not sure what to do” should call the local police contact listed, according to one notice seen by Bloomberg.On social media, some crypto investors have made unverified claims that they were summoned by local police recently and warned against the risk of investing in cryptocurrencies. One investor said local authorities required him to sell his holdings. Another said police asked him to delete the trading app from his phone.Chinese officials see their success cleaning up the peer-to-peer lending industry two years ago as a model for its cryptocurrency crackdown, said the person familiar, asking not to be identified as the matter is private. The country purged the P2P industry after frauds and defaults became rampant, in some cases leading to suicide and street protests. In its heyday the sector had more than 50 million users and $150 billion in outstanding loans.The extreme price swings of cryptocurrencies have already left a mark. In one high-profile case, a Chinese man from the eastern city of Dalian killed his three-year-old daughter and tried to commit suicide with his wife after losing 20 million yuan ($3.1 million) on a leveraged bet on Bitcoin last June, according to local media reports.Peter, a Beijing tech worker, piled 20,000 yuan into cryptocurrencies three weeks ago, just in time for latest round of volatility. Within days, his portfolio grew to nearly 100,000 yuan, then quickly fell back down to 14,000 yuan. He echoed the carpe diem philosophy of crypto traders globally: “It doesn’t matter if it all goes to zero. But what if it brings me sudden wealth one day?”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Stock Splits Are Back. So Is the Debate Over Whether They Matter

    (Bloomberg) -- Stock splits are back in vogue among big U.S. companies, reviving a debate about whether the practice that had fallen out of favor for years is worth the fuss.Last week, Nvidia Corp. became the eighth company in the S&P 500 Index to announce a split in the past year, joining big names like Apple Inc. and Tesla Inc. That’s the most over a comparable period in six years, according to data compiled by Bloomberg.The surge in splits comes amid a rally that’s pushed share prices of almost 600 stocks in the Russell 3000 Index above $100. Yet that has done little to settle the age-old-argument among investors about whether such stock-price engineering has any bearing on performance. In fact, recent developments such as soaring retail trading and fractional share ownership have only heated things up.“Arithmetically, there’s no merit to the notion that stock splits work,” said Mark Lehmann, chief executive officer of JMP Securities LLC. “But there is an optical hesitancy for certain stocks at certain prices and there is a segment of the investing public where that will never change.”The primary motivation cited by companies doing splits is simple: to make each share cheaper to buy. Nvidia, whose share price has more than quadrupled since the start of 2019 to reach almost $650, said in a statement announcing its 4-for-1 stock-split plan that its aim was to “make stock ownership more accessible to investors and employees.” A representative for the chipmaker declined to comment further.Once a reliable hallmark of bull-market exuberance, the practice had until recently fallen out of favor. In 2006 and 2007, when stocks were again setting records, there were 47 splits in the S&P 500. Three companies -- Nvidia, Paccar Inc. and Cummins Inc. -- even split twice. In 2019, there were only two.For Julian Emanuel, chief equity and derivatives strategist at BTIG, it’s harder to make the case for splitting a stock these days because of the rise of commission-free trading and brokerages offering fractional shares. Those developments “have largely rendered irrelevant the dollar value of a company’s share price,” he said in an interview.Brokerages like Robinhood now let investors buy a slice of a share for as little as $1 rather than forking over, say, more than $2,300 for a single share of Google-parent Alphabet Inc.Limited Benefits A look at the data backs up the case against splits providing long-term benefits to stock performance. The shares of companies that have split outperformed the S&P 500 on average in four of the last five years in the year the split was announced, according to Bloomberg data. The calendar year following the move, however, those same shares underperformed four of the five years.The recent rash of stock splits has sparked speculation that other large technology companies like Amazon.com Inc. that boast four-digit share prices may be next. Amazon split its stock three times in 1998 and 1999 and hasn’t done one since. Shares of the e-commerce giant trade around $3,200 and have gained more than 5,000% since its last split.Regardless of what the historical-performance record shows, the surge in retail trading over the past year may be altering the calculus for companies when it comes to evaluating splits.U.S. retail investors are now second in share trading only to market makers and independent high-frequency traders, according to Larry Tabb, director of market structure research at Bloomberg Intelligence. The retail segment is now larger than quantitative investors, hedge funds and traditional long-only participants, said Tabb.“A lot of investing is driven by psychology,” said Kevin Walkush, a portfolio manager with Jensen Investment Management. “Now, rather than a retail investor facing the challenge of buying a fractional share, a stock split means they can buy it outright. It just opens up the market that much more for retail investors.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Turkish Economy Likely Outperformed Most Peers But at a Cost

    (Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Turkey’s economy has continued to grow at a strong pace so far this year, but that doesn’t necessarily mean its citizens are getting richer.The $717 billion economy likely outperformed all Group of 20 nations except for China in the first quarter after nearly stalling a year ago when the pandemic struck. It’s been bolstered by robust consumption on the back of last year’s government-led credit push, an expansion that came at the expense of price and currency stability.Data on Monday is likely to show gross domestic product rose 6.3% from a year earlier and 1.3% from the fourth quarter, according to the medians of forecasts in Bloomberg surveys. Treasury and Finance Minister Lutfi Elvan said Thursday that “data point to 6% growth in the first quarter.”There is an “exchange rate illusion” in Turkey’s economic growth data, according to Enver Erkan, chief economist at Istanbul-based Tera Yatirim, who’s ranked by Bloomberg as the most accurate forecaster on Turkish GDP data.Noting that the GDP per capita in U.S. dollar terms dropped nearly 40% since 2013 to around $7,700 last year, Erkan said Turkey’s recent economic model isn’t sustainable as the growth is mainly driven by consumption supported by government spending and loan campaigns.“This comes at the expense of lira and price stability,” he said.The government pushed banks to ramp up lending to help businesses and consumers ride out last year’s Covid-19 emergency. The credit boom was coupled with a front-loaded easing cycle that helped prime the economy. That growth push weakened the currency by 20% last year and kept headline inflation in double digits. The size of the economy dropped to $717 billion last year from $760.8 billion a year earlier.The currency further lost 10% against the dollar in the first quarter, especially after President Recep Tayyip Erdogan fired the central bank’s former hawkish governor Naci Agbal in March. The decision to fire Agbal, who had sought to restore the central bank’s credibility, set off a swift reversal of investor enthusiasm, sending Turkish markets into a nosedive.The data expose the challenge facing new central bank Governor Sahap Kavcioglu as he looks to restore price stability without cooling the economy ahead of the general elections in 2023.Kavcioglu has pledged policy continuity after his appointment and kept benchmark interest rate unchanged at 19% for a second meeting this month, saying the pace of price gains had peaked in April. Consumer inflation quickened for a seventh month to 17.14% in April.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • DBS Issues $15M Digital Bond in First Security Token Offering

    The DBS Digital Bond, issued via its Digital Exchange (DDEx), has a sixth-month expiry and a coupon rate of 0.6% per annum.