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Flexible packaging industry

Market Research Engagement Helped a Flexible Packaging Firm to Enhance Sales by 23%

Flexible Packaging Industry Overview

The global flexible packaging market is currently witnessing a period of low growth due to the rising tariffs on raw materials, evolving consumer buying behavior, and flexible packaging companies’ inability to make technology upgrades to meet rising market demands. In addition, the increase in prices of raw materials and sustainability issues are presenting additional challenges for companies in the flexible packaging industry. Consequently, companies in the flexible packaging industry are compelled to streamline operations, revamp traditional business models, and proactively take approaches to tackle challenges coming their way.

Are you facing difficulties in keeping up with the rapidly evolving business models in the flexible packaging industry? If yes, our market research experts can help. Request a FREE proposal today!

Business Challenge

The client is a flexible packaging firm based out of the United States

The US flexible packaging industry has been experiencing rapid transformations due to the rising tariff on raw materials and rapidly changing customer buying behavior. In order to adapt to the changes and gain a leading edge, an American flexible packaging firm wanted to gather comprehensive insights into the market’s development, industry regulations, customer needs, and competitive landscape.

They approached the experts at Infiniti Research to leverage their expertise in offering market research solution. By leveraging Infiniti’s market research solution, the client also wanted to tackle challenges such as:

1Flexible packaging industry challenge #1: Understand customer buying habits

As the growth of online shopping has reduced the emotional impact that traditional packaging generated in retail stores, the flexible packaging industry client was struggling to understand customer buying behavior and adapt packaging to suit online shoppers needs.

Flexible packaging industry challenge #2: Adapt to rapid technological changes

As leading companies in the US flexible packaging industry heavily invested into new technologies and processes, the client wanted to keep up with rapid technological developments in the market. By doing so, they wanted to make constant technology upgrades to meet the rising market demand. In addition, by keeping up with market demands, they wanted to stay financially prepared.

Flexible packaging industry challenge #3: Adopt cost-cutting initiatives

As common raw materials used in the flexible packaging industry are experiencing steep price increases, the wanted to identify cost-effective measures undertaken by their competitors to cut down on operational cost.

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Solutions Offered2

We followed a three-phased approach to market research engagement.

  • A customer intelligence engagement to gather insights on primary customer needs and identify reasons behind customer switching to different brands.
  • A market trend analysis study to identify trends in the flexible packaging industry in the United States. In addition, this engagement involved analyzing factors impacting customer buying behavior and understanding technological developments in the US flexible packaging industry.
  • A competitive intelligence engagement to analyze competitors’ strategies and identify growth opportunities. This engagement also involved measuring the client’s market position compared to their competitors. Also, this engagement involved identifying areas where the client lacked in comparison to the top flexible packaging companies in the US.

Results Obtained

Our market research engagement helped the company in the US flexible packaging industry to understand customers’ buying behaviors and innovate packaging materials to suit online shoppers needs. Also, by closely analyzing competitors’ strategies and business models, they were able to identify the best technologies and processes to invest on to yield huge savings. In addition, they were able to make technology upgrades before their competitors. This helped them to efficiently meet customers’ needs and demands.

In addition, by understanding supply chain challenges in advance, they were able to revamp their traditional supply chain models and adopt innovative techniques. This helped the client to enhance operational efficiency and product quality. Also, the company in the flexible packaging industry was able to enhance sales by 23%.

Want to know more about our solutions for companies in the flexible packaging market? Request for more info!

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Why It’s Time to Rethink Your Packaging Strategy and How to Do It Right

As hundreds of new products make their entry into retail shelves every year, it is critical for brands to revamp their packaging strategy in order to stand out in the market. Furthermore, changing consumer demand, social movements, increasing regulatory compliance, and economic challenges have brought the need for better packaging initiatives to the forefront. Businesses must rely on packaging strategy solutions that are ongoing, periodically evaluated, and continuously improved. Moreover, modern brands have also realized the importance of packaging strategies in marketing a product. The packaging design can play a vital role in the customers’ buying decision. Customers are placing equal importance on both the quality of the packaging design and the functional aspect of the product.

Packaging strategy solutions experts at Infiniti Research explain some of the key reasons why businesses must consider a product packaging redesign.

Outdated product packaging design

Trends in the packaging industry are constantly changing. In the 90s, skeuomorphic designs that made products resemble their real-world counterparts were popular. Most of the product packaging designs during that era also featured bright colors and a large number of design elements. However, today most companies are adopting a packaging strategy that is aligned with a minimalist approach which incorporates a significantly lower amount of design elements. If your current packaging strategy is outdated from what your counterparts in the market are offering, it definitely needs an upgrade.

Here’s a chance to hone your packaging strategy! Request a free proposal to know how our experts can help you formulate better packaging strategies that will enhance your bottom line.

Innovation in product formula

It is common for companies to explore new product innovations and formulas over time. With the introduction of new ingredients or technology, the brand’s packaging strategy will have to adapt to meet these new functionalities and specifications. Moreover, this also acts as a good opportunity for brands for marketing the improvements in their product formula.

Company rebranding

Rebranding has become a common business trend lately. Mostly legacy brands who have been in business for decades tend to change to a more contemporary branding to reflect the modern times. Some even make changes to their logos and visuals in order to reflect a change in direction. Formulating a new packaging strategy under such circumstances are important to ensure that the design is consistent with the brand’s new aesthetic.

Dynamic market changes make staying updated with the latest market trends challenging. By partnering with our industry experts, you can stay updated on the latest trends and other market updates for your industry. Request a free brochure for more insights on our services.

Public relations crisis

Even the best of brands have experienced a public relations crisis at some point. As today we live in a digitally connected world, negative publicity can spread like wildfire on social media channels, proving fatal for the brand image and reputation. In case companies go through such a crisis, they must rethink their packaging strategy for two primary reasons. Firstly, it shows that the brand is moving away from the bad publicity that it has received. Secondly, it creates an impression that the brand is actively trying to improve its brand image, starting with the design.

Technological advancements

Incorporating modern technology as a part of your new packaging strategy can not only result in efficient product packaging and design strategy but also helps identify innovative designs that you may be missing out on. For instance, brands use several new visual elements in packaging to attract customers including embossing, debossing, foil stamping, or even a spot UV that highlights a part of the packaging design.

Steps to create an effective packaging strategy

Packaging strategy

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European food packaging

Market Opportunity Analysis to Support Data-Driven Business Strategies for a Flexible Packaging Firm

With a growing focus on sustainability, flexible packaging is replacing traditional rigid packaging solutions. Also increasing market demand for consumer-friendly and sustainable packaging materials have propelled flexible packaging as a cost-effective alternative.

Despite the strong market demand for flexible packaging services, the entry of new players in the global flexible packaging market is projected to boost the market competition. This has made it vital for major players in the flexible packaging market to conduct market research and approach the right partners to provide intelligent business solutions.

Wondering how partnering with Infiniti Research can help you tackle market challenges? Request a FREE brochure to gain insights into our portfolio of services and their benefits for your business.

The Challenge 

A major flexible packaging company found several inefficiencies while trying to expand their business operations to the European market. The speed of transformative change, consumer perception of plastic, sustainability challenges, and difficulty in forecasting market size made this a complex undertaking for the team. The company also struggled with building up systems and processes to keep up with the escalating requirements of the flexible packaging market. All these challenges were further escalating the costs. With this, the client realized that assessing key competitors is not enough in this competitive market. It is vital for them to attain a wider understanding of the markets as a whole.

The company approached Infiniti Research for a solution to address the challenges and drive down the costs.

Are you facing similar challenges? If yes, our experienced market research experts can help. Request a FREE proposal to know how.

Our Approach 

Our market opportunity analysis experts leveraged various paid and non-paid databases, and other secondary sources of information to study the flexible packaging market in Europe. Also, they tracked the distribution channels of major competitors and conducted porter’s five forces analysis to examine the European flexible packaging industry’s competitive forces and likely profitability.

Key takeaways of this engagement 

  • Gained insights into market size estimate for the next 10 years
  • Identified factors affecting profitability and reduced time to market
  • Expanded their business operations around niche market segments

The client also achieved a 50% reduction in the total cost of operations and up to $13 million in potential annual operational savings.

Wondering how the client successfully achieved a spot in the European flexible packaging market? Download this FREE resource to gain detailed insights into this success story.

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Why Infiniti’s Market Opportunity Analysis Solution? 

Today, it is indispensable for organizations to understand the competitive landscape and market attractiveness to gain an edge over their peers. Market opportunity analysis helps organizations to effectively connect their products and services with their target customers. Market opportunity engagement also helps organizations comprehend the potential challenges and barriers to entry across niche market segments. Infiniti’s market opportunity analysis has helped various companies gain accurate and actionable data to devise effective go-to-market strategies.

CONTACT US to know how our solutions can help your business.

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