The consumer packaging industry records growth within a climate of subdued consumption as cost-of-living pressures persist. Innovative approaches to pack sizing, going smaller and bigger, give choice to consumers to preserve affordability and brand growth. The key driver of industry innovation is the development of renewable packaging solutions to foster circularity and reduce virgin material use. Regulators’ policy targets add impetus to action while digital tech holds the potential to transfor
This report comes in PPT.
The consumer packaging industry sees softer volume growth as cost-of-living concerns and doing business pressures persist. Adopting an adapted pack offer, in pack type and size, is a valuable way for brands and retailers to mitigate operating cost volatilities and help preserve consumer access with affordable retail price points.
Packaging circularity is most influential in shaping the future of all packaging materials and offers innovation opportunities, in pursuing a much lighter environmental footprint. Plastic is under greatest pressure (with paper and metal key challengers) yet shows design development, in removing virgin resins and collaborations on collection/sorting. With more consumers concerned about climate change, packaging circularity is essential for onward competitiveness.
Regulation is a hot topic for the packaging value chain. Policy intervention is strengthening and is set to propel collective action in brand pack redesigns as recyclability, recycled content and re-use are targeted, to eliminate waste. There are opportunities for new designs and refill/re-use models. Inadequate progress risks costs of taxation and future material bans.
Digitalisation offers wide-reaching potential to transform, from improving operational efficiencies via automation, enhancing design capabilities (via design/prototyping/printing services) onto the use of machine learning/AI to accurately sort packaging at end of life, and reduce waste. Harnessing traceability brings insights to inform quality control and sustainability communication while on-pack codes can also deepen brand-consumer engagement and loyalty.
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