Tag: packaging

packaging strategy

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Outdated product packaging design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 If your current packaging strategy is outdated from what your counterparts in the market are offering, it definitely needs an upgrade.

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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

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packaging industry

Unwrapping Packaging Industry Market Innovations and Updates 2019

The global packaging industry is booming with rising demands especially from growing economies at an annual rate of over 5%. Furthermore, factors including the growing urbanization, development of retail chains, investment in housing and construction, and the burgeoning healthcare and cosmetics sectors especially in BRIC nations are driving sales growth for the global packaging industry. Over the years, customer expectations from packaging industry (especially food packaging) have drastically evolved. They now expect packaging to comprise of three key qualities: convenience, ease of use, and ease of transportation. With a steady increase in competition as well as opportunities to improve offerings, the vendor landscape in the global packaging market is poised to experience steady growth over the next five years.

Finding it difficult to stay updated with the latest market trends and incorporate strategic decisions into your business? Request a free brochure to know how our solutions can help.

Packaging industry trends and market updates 2019

Packaging industry

The article below scans the category for the packaging industry in its entirety to help vendors in this sector understand and stay abreast of the latest news, innovations, and market developments.

Packaging industry moves to more customized options

Owing to the busy lifestyle today, consumers will continue to crave convenience. This could result in a new level of customization, taking not only personalization of the product but even the packaging industry as a whole to new heights. With the breakthroughs in technology, printing, and data collection, we can soon expect highly personalized and localized packaging formats. Furthermore, the rising concerns relating to global challenges such as shortage of food and water demands the needs to reduce problems such as food waste. Protective packaging will play a major role in making food safer and more accessible. This will also help serve the need to keep food items fresh for longer during transportation to long distances. The demand for greater protection coupled with the demand for greater sustainability will be met with a highly protective packaging that is also more environmentally-friendly, lighter and more suitable for transport.

Are your strategies equipped to meet the dynamic business needs? Request a free proposal to know how our advanced solutions can help you bridge the gaps in your business strategy.

Nanotechnology in packaging industry

Vendors in the sector are exploring opportunities for packaging in marketing their products better. Technologies such as NFC, RFID, and LED solutions are expected to offer consumers a new level of interaction, information, and entertainment. Furthermore, the use of nanotechnology in packaging industry could provide better protection against air and light, improving the shelf-life of products. Nanotechnology in packaging industry could also help promote active packaging. This involves using materials that actually interact with the products’ content, fighting microbes, and thereby reducing the risk of foodborne diseases.

Growth of flexible packaging market in GCC

Flexible packaging includes materials such as bags, pouches, plastic, film, aluminum foil, metalized or coated paper or film, or any combination of these materials that is easy yielding and has no rigid structure. Flexible packaging is currently the fastest growing segment in the global packaging industry and is used in consumer as well as industrial packaging. Currently, the flexible packaging market is observed to be exhibiting strong growth in the GCC region. This growth is driven largely by continuous development in sectors including food, retail, consumer goods, and pharmaceuticals. Moreover, the increase in personal disposable income and the growth in retail and consumer goods market further add to the growth of the packaging industry in GCC economies.

Foodservice packaging is growing despite challenges

Nearly two-thirds of manufacturers in the foodservice packaging segment of packaging industry are experiencing rapid growth in volume. These manufacturers also gained a surge in sales. Due to the increased number of fast-casual options, quality food offerings, and value to their customers, this segment of the packaging industry is expected to expand in the next few years despite several challenges including environmental concerns and government regulation taking the center stage. Supermarkets/grocery stores and delivery services are also noted as opportunities for market expansion of the foodservice packaging because of the popularity of being able to grab products on the go or have them delivered.

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4 Secret Ways to Cut down on Packaging Costs

Packaging plays a functional as well as a promotional role for any company. In the attempt to make packaging both protective and attractive, companies shell out a bomb on packaging materials. Some of the materials chosen might not even be necessary. Furthermore, when companies plan to reduce costs, their first focus is often what product design changes can be made to reduce material costs. Many overlook entirely the option of refining the product’s packaging design instead. Enhancing and optimizing packaging design can not only save a company boatloads of money, but it can also provide better product protection and reduce carbon footprint. The packaging industry is currently bombarded with innovations that can help companies to identify more pocket-friendly options for packaging, consequently reducing the packaging cost. Here are four surefire ways to reduce packaging cost:

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Prioritize R&D

All kinds of packaging are not created equal. It is essential to dedicate time to undertake thorough research into the latest innovations and alternatives that the packaging industry has to offer. Identify and test multiple design and material options. A bit of extra time on R&D can save years and years of wasted dollars in the long run. Furthermore, this also curbs the risk of over-packaging or using processes that require too much labor or materials.

Redesign packaging

Upgrading the packaging for older products is as important in reducing costs as providing time to optimize packaging for a new product. As new technologies and products become available in the packaging industry, previously designed products can be upgraded to reduce the packaging cost. Several prominent companies have reduced their packaging cost by merely adjusting the design in a way that would reduce the amount of materials used. Companies can use techniques that would eliminate labels and print directly onto the package to minimize materials, also change the shape of the container to improve packing density.

Digital printing

Switching from conventional printing to digital printing will reduce the overall packaging cost to a large extent. Using traditional printing methods will require companies to order large amounts of packaging material. On the other hand, digital printing makes short to medium-runs a more cost-effective option for specific product lines. Hence, with the help of digital printing techniques, companies can cut short their packaging cost by an enormous amount.

Automated packaging

There are a number of automated packaging solutions available in the packaging industry, designed to speed up the packaging process, freeing up workers to perform other tasks, and, in turn, reducing costs. For instance, ideally, a where a hand stretch wrapping a pallet might require two people, after introducing an automated stretch wrapper, the process will only require one. In this manner, companies can cut down on their packaging cost to a large extent. By automating the packaging process, companies can also employ the excess labor force in other vital operations. This would help the company to improve their overall efficiency.


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Pharmaceutical packaging

Are you Overspending on Your Packaging? Know the Factors That Affect Packaging Costs

Packaging has become an indispensable part of product marketing. For some products, packaging just steals the limelight away from the product; whereas, for others, it adds to the user experience. Packaging for business purpose serves different functionality, where it is more about preserving the content for throughout the supply chain rather than attracting the customer. With a lot of emphases placed on the main product itself, one can easily ignore the packaging costs. People may often feel that the packaging cost is insignificant. Although sometimes, the cost can well exceed the price of the product itself. For instance, a shower gel can cost about 10p to manufacture with the bottle itself costing three times more at around 30p. It is important to control such wasteful packaging, as it not only increases the overall price but also burdens the environment by creating waste. So it is important to be well-versed Request Free Proposalwith the cost of packaging and what factors affect the final price.

Factors affecting the packaging costs

Product sensitivity and specification

It is perhaps one of the most obvious factors affecting the cost of packaging. The more sensitive the product is, the more manufacturers have to spend on packaging. There’s a direct correlation between the fragility of the product and the final packaging price. For instance, fragile products will have to be wrapped in bubble wrap, padded with thermocol, and finally be sealed inside the corrugated boxes. As a result, the packaging cost can skyrocket. Additionally, larger product will also require more packaging materials and consequently impose a higher packaging cost.

Role in supply chain

Apart from the sensitivity of the product, the packaging cost also depends on its role in the supply chain. It is essential to consider how the product moves through the supply chain, what kind of environment it will face, and the type of handling it will experience. For instance, products that go through courier networks will change hands multiple times, and it will go through numerous distribution centers, vans, and lorries. The product might be exposed to different settings and forces including impact and vibration. If the product is shipped directly to the customer, then it can do away with all those extra packagings, where primary packaging itself might be sufficient.

Packaging complexity

Apart from the materials used in the packaging to protect the items, several other factors may complicate the packaging. For instance, a simple cardboard box may have different die cut inside, which requires complicated assembly. Sometimes such elaborate packaging needs humans to fix the packaging as packaging machines might only be capable of performing simple cuts. Although complex packaging wows the consumers, it does add to the packaging cost as it requires more manual hand work. Take beer case packaging, for example, a simple beer box case is easy to package and can be done by machines itself. But for wrapping a six-pack with the handle it requires manual work which not only consumes time but also drives up the cost.

Order volumes

Its common sense by now that whenever items are bought in bulk, the cost per item will lower significantly. The same principle applies to packaging while ordering in large volumes as well. The reduction in cost is realized due to multiple factors such as lower machine setup time, seamless manufacturing process, less manual tasks, and ease in storage and shipping needs.

Marketing costs

Finally, companies need to consider the role of packaging in the product’s marketing. For economical products, price may be the selling point, but for luxury products packaging needs to be elaborate. For instance, the cost will significantly increase when using multi-color print in the corrugated boxes instead of single-color black print. Additionally, using matte plastic over shiny ones will also incur extra cost.

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Top 5 Packaging Companies in the World

The history of packaging dates back to as far as 5000 years when materials such as leaves, wood, and glass were used to cover or store the product. Modern technology has come a long way that it provides strength, resilience, protection, functions, and aesthetics to the product. Today, packaging is quintessential to the success of a product, as a significant purchase decision in a retail setting is based solely on the aesthetics and functioning of the packaging. Some packaging gives the brand a more premium feel, whereas others protect it from extreme conditions including heat, light, air, wind, and moisture. Today, we take a look at those companies who pioneer in manufacturing packaging materials and design for both consumer and industrial products. Their packaging solutions range fromIR_Brochure containers, pouch, cartons, shrink wrap, pallets, cases, and tray. So, here’s a list of some of the top packaging company in the world right now.

International Paper

International Paper is the largest pulp and paper company in the world. The company produces a wide range of plastic lids and paper cups for fast-food chains such as McDonald’s, Wendy’s, and Subway. They have a wide array of product line including cellulose fibers, coated paperboards, containerboard, corrugated packaging, and papers. International paper generated revenues of about $20 billion with an employee base of 55,000 operating in more than 24 countries. The company shows its commitment to recycling by collecting more than 6 million tons of paper in the US alone to be recycled.

WestRock

WestRock is an American packaging company formed after the merger between MeadWestvaco and RockTenn. It is one of the leading producers of corrugated and consumer packaging and recycling solutions. The company specializes in folding cartons, paperboard, displays, corrugated containers, containerboard, Kraft paper, and protective packaging. They are also one of the largest integrated recycler and process and recycle fibers, virgin fiber, boxes, and other material.

Stora Enso

Stora Enso is a Finnish paper and pulp manufacturing company. The packaging company is also a leading provider of renewable solutions in biomass, wooden construction, packaging, and paper in the global markets. The company has also won various awards for best packaging designs including the famed The Golden Egg Award in Sweden. The company is currently increasing its investment in renewable construction products and biomaterials as it expects lucrative growth opportunities in the future.

Reynolds Group

Reynolds Group is an American packaging company and also one of the world’s largest manufacturer and supplier of foodservice packaging and consumer beverage products. The company has an association with Reynolds Metal Company is also one of the largest aluminum manufacturers in the world. They operate through five segments including Closures, Evergreen, Graham Packaging, Pactiv Foodservice, and Reynolds Consumer Products.  The Pactiv Foodservice division provides packaging solutions for foodservice companies such as containers, wraps, trays and pads, cups and straws, and AG packaging. Their other division Graham Packaging manufactures packaging materials for food, beverage, household, personal care, automobile, and healthcare industry.

Amcor

Amcor, an Australian packaging company, produces flexible and rigid packaging catering to food, beverage, tobacco, and healthcare industries. Headquartered in Zurich, Switzerland, the company posted sales figures of $9.1 billion from 200 sites spread across 43 countries. Amcor has been focusing their efforts towards sustainable packaging that is more functional, appealing, and cost-effective. The company was presented by the DuPont Awards for Packaging Innovation in 2017. Additionally, due to its efforts in sustainability practices, it has been included in Dow Jones Sustainability World Index, MSCI Global Sustainability Index, STSE4 Good Index, and CDP Climate Disclosure Leadership Index.

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Market Assessment

Industrial Packaging Analysis – How Market Measurement Study Helped an Industrial Packaging Client Forecast Market Growth

LONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest market measurement analysis for a leading industrial packaging client.  IndustriaIR_Brochurel packaging is suitable for numerous applications in end-user industries, such as chemical, construction, food and beverage and pharmaceuticals. Industrial packaging also includes the protection, storage, handling, and transportation of industrial products within the industry or with other end-use sectors.

Some of the critical factors that are expected to boost the growth of the industrial packaging industry include –  increasing rate of construction and building activities in emerging economies, the rapid growth of exports, and the growth of the food and beverages industry to meet the demand of the growing population, says an industry expert from Infiniti Resarch.

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 The solution offered helped the client devise effective marketing programs and decrease the cost of customer acquisition. With the help of market measurement analysis, the client also attained clarity on the total market size which helped them design their marketing activities effectively.

 Additional benefits of the market measurement analysis

  • Helped the client gain better understanding of the competitive landscape
  • Identified potential customers for the company’s products and services
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Pharmaceutical packaging

Exploring the Challenges in Sustainable Packaging: How to Overcome Them?

The popular quote “The first impression makes the best impression” is highly applicable in the case of product packaging to attract customers. A customer’s perception of the product begins the moment a product catches their eye on the retail shelf. Therefore, packaging a product is vital in more ways than you think.

Today’s customers have become highly exposed to the market and are more aware of the changing trends, all thanks to technology and globalization! The “environmentalist” virus is slowly infecting the consumer crowd as well. The rising concerns pertaining to environmental pollution from non-degradable products like plastic are making the consumers more responsible and undertake “green-packaging” measures. But switching over to sustainable packaging and re-inventing the packaging design might not be as easy and feasible as it sounds, as far as businesses are concerned. Some of the key challenges that companies face while moving towards green packaging trends are :IR_Brochure

 Cost concerns

For any business, the primary motive is to reduce cost and maximize profits. Most companies try to achieve this without compromising the quality of the packaging design. The cost of materials used in sustainable packaging are on the higher side when compared to the traditional packaging methods. This might prove to be heavy on the pockets of companies in the long run.

 Product safety

The basic idea of packaging is not just appealing to the consumer, but at the same time ensure that the content inside is intact. Sustainable packaging materials are made up of products that are recyclable and reusable, but they may not be as efficient as plastic and other thicker packaging materials that ensure product safety.

 Unwillingness of customers to pay more

Switching over to the sustainable packaging means a change in the overall cost of the company. The cost incurred may not be at a skyrocketing rate in most cases, but undoubtedly higher than traditional packaging designs. These additional costs are eventually passed on to the customers by companies to maintain their profit levels, but sometimes customers might start feeling that they are being overcharged for the same product, leading to a loss of customers in the long run.

How can companies overcome the challenges of sustainable packaging?

 There might be several design and product safety-related concerns faced by sustainable packaging. But these can be easily overcome by collaborating with strong packaging design thinkers who have the creativity and technology to overcome these challenges. Here are a few ways that companies planning to switch over to sustainable packaging can become successful in the implementation:

Collaboration is the key

As an organization, you might have amazing ideas for incorporating sustainability packaging into your business, but at the same time, you need the help of experienced designers and marketers for implementation. Designers can help you identify the packaging that is best suited for your product without compromising the quality and appearance of packaging. Whereas, marketers can help you pave the way to attract more customers and at the same time have control over budgets.

Understand long term-packaging implications

Companies must understand their entire product lifecycle and choose the materials that are best suited for their products rather than choosing the most sustainable packaging option. Not all types of sustainable packaging can help retain the quality and intactness of the content inside for a long period. Businesses have to consult experts and make the wise choice of packaging that would provide the most durability with reduced costs. At the end of the day, it is all about choosing what is right for the brand. Every decision should also be made through the lens of brand equity.

 

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cosmetics industry

Latest Packaging Trends and Innovations in the Cosmetic Industry

The perception of beauty has evolved drastically over the years with the changing trends and fashion. Today, cosmetics are considered to be an important contributing factor for beauty, owing to which the cosmetics industry has witnessed exponential growth over the past few decades. With a large number of players in the cosmetics industry offering products of similar utility, what is the key factor that differentiates each of these products? The answer is product packaging! Cosmetics companies are rigorously employing innovative and attractive packaging strategies to satisfy the rapidly changing customer expectations.

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Innovations in the Cosmetics Industry

The players in the cosmetics industry are experimenting with different ideas to create a unique and attractive trend, from beauty tools such as makeup application sponges to personalization and customization in the products; the cosmetic industry is leaving no stone unturned to lure customers.

Smart Packaging is Grabbing Eyeballs

The cosmetic industry has identified that packaging is much more than just packaging design. Appropriate packaging also affects the functionality of a product. One of the breakthrough inventions in smart packaging is aerosol package, which is a pack that contains, protects, and delivers a product and has the ability to easily modify product textures. Another example of a clever trend in cosmetic industry packaging is the airless system, which protects the product from any sort of contamination or damage caused due to oxidation and pollution from microbial allergens.

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Innovative Tools

The cosmetics industry not just concentrates on the final products but also on the tools associated with using these products. Over the last couple of years, there have been many breakthrough inventions in the tools that have been used for cosmetics industry apploications. To start off, there was an evolution in the makeup brushes, which later transformed into the introduction of devices for specific utilities such as to contour, camouflage, and sculpt. Sponges have become a new popular tool in the cosmetics industry. They have better functionality in terms of flawless coverage in makeup application and the softness provides a cushioning effect on the face.

Inspiration from Other Industries

The cosmetics industry is looking at industries such as food and pharmaceuticals for inspiration in packaging. Some examples of packaging ideas derived from these cosmetics industry are pharmaceutical droppers, simple patches for nail and eye make-up, shampoos that look like a fruit juice pack, etc.

Budding Trends

Many new trends are emerging in the cosmetics industry, which can be exploited by the industry players to garner better popularity among the customers. One such trend in cosmetics industry is that has been grabbing eyeballs is the nail polish segment, which is gaining attention not only in terms of the color used but also in terms of “nail art.”

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Market Study Assists a Leading Candy Packaging Manufacturer to Understand Future Growth Prospects

Over the years, the packaging industry has shifted to a more value-based environment with the rising demand for sophisticated packaging among the middle-class population. Also, with the rise in the economic uncertainty and price inflations, leading manufacturers in the candy packaging space are relying on a market study to understand potential opportunities. Market study helps businesses to  effectively keep track of the competition and improve the current business models and projections. In addition, conducting a market study on candy packaging gives a detailed overview of the market in terms of the customers and the competition in the market space. Also, through a market study engagement, businesses in the candy packaging space can devote more resources and determine better market opportunity.IR_Brochure

With an aim to get better visibility into the candy packaging space, leading businesses are approaching companies like Infiniti. Infiniti’s market study engagement provides a holistic view of the market landscape in terms of the competitors, their product positioning, and the customer behavior toward these products. Infiniti’s market study engagement also promises a qualitative and quantitative assessment of the market in terms of the customer segments and buying patterns.

The Business Challenge

A renowned candy packaging client with a considerable number of manufacturing units spread across the globe was facing predicaments analyzing the current market landscape and understanding the future growth prospects. The client wanted to seek out ways to improve their current market performance and penetrate through niche target segments. Furthermore, the client wanted to identify the potential competitors and devise effective strategies to improve their product offerings. By leveraging Infiniti’s market study, the client wanted to keep track of the competition and reduce the time-to-market for the products.

IR- candy packaging

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Our Approach

To profile the potential customers and reach out to the target segments, Infiniti’s market study experts carried out extensive research methodology comprising interviews and discussions with key leading stakeholders in the candy packaging space. Also, to get the desired information, the client also collated information from a wide array of proprietary sources such as paid industry databases, company presentations, and industry forums.

Market Study Solution Benefits:

  • Gained a detailed overview of the candy packaging market in terms of the potential customers
  • Gauged information of the market in terms of the size and volume
  • Identified the potential competitors in the market and devised an effective go-to-market strategy
  • Analyze customers preferences and implemented cross-marketing techniques to existing customers
  • Determined market opportunity and enhanced their product offerings across potential target segments

Benefits of Our Integrated Approach

This market study engagement helped the client monitor and track the overall performance of the candy packaging space. Furthermore, with the help of this market study, the client was able to devise a one-size-fits-all approach to improve sales effectiveness and target their priorities. Also, the engagement further assisted the client in expanding their influence across the niche and profitable market.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the packaging industry.
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