The Packaging industry is growing steadily and by 2022 will be worth almost $980 billion (smithpira).
The food packaging market accounts for almost half of this total spend with growth being propelled due to:
- the rising demand of convenience food
- increasing urban population
- changing eating habits
- greater varieties of products in the supply chain
- better packaging for health and hygiene in developing countries
- no electronic alternatives from the physical properties protecting contents
We are also seeing emerging design trends, fuelled by consumer needs, including transparent food packaging, as consumers are keen to see what they’re buying rather then merely reading a label on pack. This trend also encourages recyclable packaging with glass and PET the standout materials.
The burgeoning consumer class in the Middle East, India and China coupled with an expanding population of youthful consumers and often strong marketing strategies is driving growth in the drinks market, as consumers become more health conscious with energy drinks and organic juices seeing a significant uplift in sales. Commitment from the likes of Coca-Cola to make 100% of it’s packaging recyclable by 2030, with many other producers expected to follow this lead, continues to develop the Brand/Consumer relationship and drive sales and, more importantly for future growth, trust.
The global cosmetic market is worth almost $30 billion and growing at over 4% every year. Bolstered by a growing awareness relating to health, hygiene and personal grooming and an uplift in eco-friendly packaging. Rapid urbanization and a rise in disposable incomes also continue to sustain strong growth, whilst oral haircare is forecast to have the greatest growth as consumers increasingly adopt toothpaste globally. A growing demand for premium, lightweight packaging and smaller pack sizes shows no sign of slowing as consumers become more aware of the impact that packaging can have on the environment.
Finally, the consumer packaged good (CPG) industry, which encompasses many of the industries above and more, is the single largest vertical standing at a mammoth $721.8 billion. Many CPG brands will have a mature omni-channel strategy, selling products in physical stores, large e-tailers and through their own e-commerce platforms. CPG brands are aggressively investing and researching smart packaging as a means of generating a better, more insightful relationship with their consumers. Through smart packaging, CPG brands receive information that can best position their products for purchase, often predicting the need and streamlining the supply chain. Smart packaging can also support auto-replenishment from within your home ensuring automation of orders and happy, fulfilled customers.
To see how Brand can support your omni-channel strategy or discuss your packaging needs, please contact us at firstname.lastname@example.org