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US packaging industry

European Industrial Packaging Market Intelligence Study – Infiniti’s Latest Success Story

Industrial Packaging Market Overview

The European industrial packaging sector is experiencing positive growth due to the rising demand in industries including food and beverage, construction, oil and gas, and consumer electronics. Also, rapid technological advancements and R&D across the globe are expected to drive the growth of the industrial packaging market over the coming years. These transformations have not only opened up new opportunities for companies in the industrial packaging sector but have also brought about new challenges. Consequently, companies in the industrial packaging market will need to identify the main challenges ahead and stay prepared.

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Business Challenge

The client is an industrial packaging company based out of Europe. The client serves the construction and heavy equipment suppliers in Europe.

The rise of new digital solutions, digitalization of the workforce, cost pressure, and sustainability issues posed major challenges for the client. Also, as the client solely relied on conventional packaging techniques, they were unable to deliver products on time while delivering the highest quality. As a result, the client’s existing customers were unwilling to renew deals with them. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering market intelligence solution.

By leveraging Infiniti’s market intelligence solution, the client also wanted to tackle challenges such as:

Industrial packaging company challenge #1: Adoption of digital techniques

As digital packaging techniques not only helped industrial packaging companies to shorten production time but also in customization, security and traceability needs, the client wanted to identify the top companies in the European industrial packaging market leveraging similar technologies. Additionally, they wanted to evaluate the capital requirement for leveraging digital technologies and processes.

Industrial packaging company challenge #2: Digitalization of the workforce

The client faced challenges in efficiently communicating between internal (production) and external (printers and converters) teams. They noted that the leading companies in the European industrial packaging market have already leveraged automation processes to enable effective communication between the internal and external teams. Therefore, the company wanted to understand the challenges of leveraging automation processes and evaluate the capital investment required.

Industrial packaging company challenge #3: Sustainability issues

To tackle sustainability challenges, industrial packaging companies are under the need to process more advanced substrates, thinner materials, and more demanding designs. The client, therefore, wanted to identify approaches undertaken by their competitors to tackle this challenge.

Want to identify the lucrative opportunities in the European industrial packaging market to capitalize on? Our market intelligence solution can help. Contact us today!

Solutions Offered

Our experts followed a six-phased approach to help the client tackle the rising challenges in the industry.

  • A market opportunity analysis to analyze market trends and industry developments in the European industrial packaging market. This also involved a comprehensive analysis of the prevailing and potential market opportunities.
  • A competitive intelligence engagement to analyze competitors’ next moves and understand their strategies and business models.
  • A customer intelligence study to understand customer needs and requirements. In addition, this phase of the engagement involved identifying reasons for customer churn.
  • A competitive benchmarking analysis to analyze the client’s products and services in comparison to their competitors.
  • A demand management study to analyze factors impacting the product demand in Europe.
  • A technology assessment to identify cost-effective technologies leveraged by companies in the European industrial packaging market.

Results Obtained

Infiniti’s market intelligence engagement helped the client to capitalize on profitable opportunities and tackle the rising challenges in the market. Also, by efficiently investing into digital technologies and automation processes, they were able to shorten production time and enhance quality of the packaging material. Implementation of automation processes further helped them to enhance communication between the internal and external teams.

By thoroughly analyzing their competitors’ strategies and business models, they were able to identify cost-effective strategies where they invested on to yield profits. Also, a comprehensive analysis of their customers’ needs and demands helped them to personalize their product offerings for them. In addition, they were able to sign a profitable deal with a leading company in the heavy equipment manufacturing industry. Gradually, they were able to save 66% on operational costs.

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Beverage packaging market

Enhancing ROI by 19% for a Beverage Packaging Company – Market Trend Analysis Engagement

Beverage Packaging Market Analysis

The global packaging industry is constantly evolving. The rapid pace of change has not only brought about exciting opportunities but has also put immense pressure on companies in the beverage packaging market to evolve and adapt. To sustain a leading edge in the marketplace, it has become imperative for beverage packaging companies to keep abreast with the trends and innovations in the market. This is where market trend analysis comes into play. Trend analysis helps companies to not only identify the latest trends but also to stay ahead of them.

Beverage Packaging Market

Interested to know the latest trends and innovations in the beverage packaging market? Our trend analysis solution can help. Request a FREE proposal today!

Business Challenge

The client is a well-known beverage packaging company based out of Central Europe. With the changing dynamics of the current marketplace, the client was struggling to understand and act on trends that impact their business. Also, the client noted an unexpected drop in their sales rate due to their inability to identify and adapt to the latest market changes.

The client, therefore, approached Infiniti Research to leverage their expertise in offering trend analysis solution. With Infiniti’s trend analysis solution, the packaging company wanted to identify trends in terms of product innovation, competitor product features, new operations, and delivery models.

Beverage packaging market challenge 1: Changes in consumer needs and behavior

With consumers’ needs and requirements constantly changing, the client wanted to identify a specific trend in changing customer need and behavior to devise strategies to meet their current and potential demands.

Beverage packaging market challenge 2: Shifts in consumer perception of value

As customers are flooded with multiple choices in packaging, timely analysis of consumer needs is becoming important. Therefore, with Infiniti’s trend analysis solution, the client wanted to understand shifts in consumer perception of value to alter their business strategies accordingly.

Beverage packaging market challenge 3: Changing trends in industry cost drivers

Today’s ever-changing beverage packaging market demands businesses to be aware of changes in the composition of the cost drivers and also innovations that lead to lower-cost alternatives. Therefore, the client wanted to identify better packaging alternatives, which offer additional value and drive sales.

Beverage packaging market challenge 4: Evolving beverage packaging market landscape

The packaging industry client also wanted to analyze trends in terms of product innovations, competitor product features, and new operation and delivery models to stay ahead of their competitors.

Request a FREE proposal to know how our trend analysis solution will help you keep pace with market transformations and adapt to the requirements in today’s competitive marketplace.

Our Approach

Our experts conducted a market research study to help the client gather comprehensive insights into the trends and innovations in the European beverage packaging market. The experts also analyzed the current and past market behavior and dominant patterns of the European beverage packaging market. Also, the experts examined political, economic, social, technological, environmental, and legal implications of the beverage packaging market in Europe to identify the external factors that impacted the client’s business activities.

Results Obtained

Infiniti’s trend analysis helped the client to identify the current and future trends in the European beverage packaging industry. Based on the sales data obtained from trend analysis engagement, the client was able to understand factors that affected their stock’s value, irrespective of general market conditions. Furthermore, Infiniti’s trend analysis solution helped the company in the beverage packaging market to identify attractive investment opportunities that are currently showing an upward trend. The client also identified low-cost alternatives to attract more customers. With Infiniti’s trend analysis solution, the company also witnessed an increase in their sales rate. In addition, the company was able to enhance ROI by 19%.

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A Leading Packaging Company Enhanced Their Sales Rate by 18% by Leveraging Infiniti’s Competitive Intelligence Solution

Competitive Intelligence Solution for a Packaging Company

The global packaging industry is poised to experience positive growth over the coming years due to the increasing demand for packaging in food, healthcare, and other sectors. However, the rising demand for packaging has increased competition in the market. As a result, packaging companies will need to quickly adapt to market innovations and packaging industry trends to gain a leading edge in today’s competitive marketplace. Also, continuously analyzing competitors’ strategies and approaches are becoming imperative for packaging companies to make changes in their business plans. This is where companies realize the importance of leveraging competitive intelligence solution.

With over 15 years of expertise in offering competitive intelligence solution, Infiniti Research has helped various global giants to evaluate the competitive landscape in the market and make well-informed business decisions. Request a FREE proposal to know how our competitive intelligence solution can help your business.

Business Challenge

The client is a packaging company based out of Germany. The company supplies packaging materials to consumer packaged companies, healthcare companies, and food manufacturers. With the entry of new players in the market, the client was facing challenges in competing with them, in terms of price, capabilities, and sales approaches. Also, the client’s inability to competitively price their products impacted their sales rate and profit margins. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering competitive intelligence solution.

By leveraging Infiniti’s competitive intelligence solution, the packaging company wanted to:

Identify competitors’ sales and marketing approaches – As the client was losing ground to their competitors, they wanted to identify the sales and marketing approaches employed with their competitors. By doing so, they wanted to make changes in their marketing and promotion approaches to drive sales and enhance the customer experience.

Understand competitors’ pricing strategy – As pricing played a major role in customers’ purchasing decisions, the client wanted to analyze the prices for similar products in the market and price their products competitively.

Identify performance gaps – By leveraging Infiniti’s expertise in offering competitive intelligence solution, the client wanted to identify their weaknesses compared to top packaging companies in Germany. Also, they wanted to innovate their product offerings to meet market demand.

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Solutions Offered

To help the client tackle the industry challenges, the experts at Infiniti Research followed a three-phased approach. The engagement involved identifying the top packaging companies in Germany, analyzing the client’s key competitors’ customer base and their requirements, evaluating the pricing strategies adopted by the key competitors, and analyzing the marketing and sales approaches followed by the key market players in the packaging industry.

The insights obtained from Infiniti’s competitive intelligence engagement helped the client to understand the strategies and approaches employed by their key competitors. Infiniti’s competitive intelligence engagement further helped the client to identify the packaging industry trends and also understand how their competitors adapted with the latest trends and innovations in the market.

Furthermore, Infiniti’s competitive intelligence engagement helped the client to identify the pricing strategies employed by the major players in the market. This helped them to make constant changes in their pricing plans to attract new customers. Also, the client was able to understand the marketing and sales approaches undertaken by their competitors. This subsequently helped them to create targeted marketing and sales campaigns. Moreover, with Infiniti’s competitive intelligence engagement, the client was able to understand their strengths and weaknesses compared with their major competitors.

In the course of one year, the company was able to boost sales through up-selling and cross-selling. Furthermore, with Infiniti’s competitive intelligence solution, the company was able to enhance their sales rate by 18%.

Benefits of Competitive Intelligence Solution for Packaging Companies

Benefits of Competitive Intelligence Solution for Packaging Companies

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European food packaging

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.

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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.

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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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Indubitable Advantage of Customer Surveys for a Returnable Packaging Company: Understanding the Drivers Behind Customer Satisfaction and Loyalty

The existing economic uncertainties in emerging countries and greater upfront costs are considered to be the major challenges hampering the growth of the global returnable packaging industry.

Over the years, returnable packaging has proven to be the ideal packaging material for shipping. Returnable packages are now available in different forms to suit the needs of the end-use sector – hand-held containers, reusable pallets, bulk containers, and racks. They are preferred for their distinctive features such as appealing aesthetics, ease of use, and strength when compared to disposable packages.

Though returnable packing is considered to be the best solution for many applications, there are several concerns that hamper their widespread adoption across the global supply chains. Some of the major challenges include – high capital costs of ownership, inherent nature of the returnable packaging components, and other challenges cropping up due to improper management.

The Business Challenge

  • The client: A returnable packaging company

With an intention to determine customer satisfaction, the packaging industry client – specializing in returnable packaging materials – approached Infiniti to engage in a consumer survey-based assessment that would help them gain valuable feedback on issues that are considered important to customers.

The consumer survey was focused on brand trends and their impact on packaging demand, shifts within the packaging industry, and the different perspective of packaging demand. The primary objective of this consumer survey assessment was to gather targeted information that would help them uncover notable shifts in the packaging industry and drivers of customer loyalty.

How Can Consumer Survey Help Returnable Packaging Manufacturers?

Consumer surveys play an essential role in running a successful business irrespective of the industry in which you operate, or the product/service being offered. Consumer survey is an important part of market assessment and can help you measure customer satisfaction levels while offering the opportunity to effectively communicate with end-users; thereby, building true personal relationships.

Summary of our consumer survey engagement

returnable packaging

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Client Journey

The changing market landscape with aggressive competitors posed several challenges for the returnable packaging manufacturer. To help the client understand how their customers perceive their brand, the market assessment experts at Infiniti conducted a consumer survey that was aimed at identifying market trends and customer expectations.

The approach included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures. The experts also reached out to various stakeholders in the packaging industry.

Solution Benefits and the Business Impact

By conducting a consumer survey, Infiniti’s market experts helped the returnable packaging manufacturer to assess their service levels and identify the factors driving customer loyalty. The client also gained insights on market trends that helped them make necessary adjustments in their product development approach and marketing strategies.

The Future

Returnable packaging is a cost-effective and environmentally friendly alternative for industrial segments that deal with an extensive flow of goods. Leading players in the returnable packing sector have collaborated with tech companies to develop solutions that would help them track the packages and minimize loses. However, recent advancements in the use of sensor-based technologies are expected to revolutionize the process of tracking returnable packages.

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

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Market Entry Strategies

4 Product Packaging Mistakes That Will Cost You

If you were to compare the packaging industry today to that a decade ago, it’s quite clear that the sector has witnessed manifold growth. Most companies have come to terms with the fact that packaging is indeed a vital part of their business. In fact, product packaging is now being considered to be an integral part of sales. But at the same time, if overdone, product packaging could burn a hole in your pocket too. Considering the goal of any business is to minimize losses and maximize profit, it’s clear that pinpointing where common mistakes occur in the product packaging and the packaging design and preventing them are critical to the success of a business. Therefore, it is important for companies to strike a balance between choosing the right packaging materials and not overspending on unnecessary packaging elements. From the experience of our industry experts, here are some of the common product packaging mistakes that you need to avoid for helping your brand shine on and off the shelf and garner better returns:


Switching to Green Packaging: What Is in It for Your Business?

Did you know that environmental degradation has caused the extinction of over 1 million living species in the world? This is one of the main reasons why businesses have come under the radar of government and other regulatory agencies. Packaging is an aspect where businesses majorly contribute to environmental degradation. Earlier, materials such as plastic were widely used by businesses. However, with the ‘go green’ movement on the rise, companies are looking for green packaging options to do their part. Though switching to sustainable packaging methods would mean a higher initial investment and change in culture, it would bear fruit in the long run. Eco-friendly business practices demonstrate compassion and awareness, which can be a persuasive factor in helping customers choose between you and the competition. In addition, companies who invest in green packaging also stand to save money in the form of shipping costs, material costs, and reduced waste. Let’s take a look at the advantages that business can gain by adopting sustainable packaging techniques:Request Proposal

Reduce environmental footprint

The goodwill of a business depends largely on their ability to show their customers that they are a social entity and care about the environment. Embracing green packaging methods can greatly help in establishing this. Eco-friendly packaging means much more than recyclability. Companies need to understand their packaging’s life-cycle. It extends from the raw materials and techniques used, all the way through to the impact and practicalities of disposal or reuse.

Reduced logistics costs

Thought the cost of packaging materials could be slightly higher when compared to non-degradable counterparts, companies can save greatly on other aspects. First, it greatly reduces the amount of raw materials used to create the packaging. Reduced materials also mean reduced effort at the end of the packaging life-cycle when it comes time to dispose or reuse it. Furthermore, the smaller it is the easier and cheaper it is to move products from one place to another. Consider all the shipping between the factory and the store then look at how much your business paid for it. It’s likely to be a big figure and green packaging can significantly reduce it.

Improved brand image

As mentioned earlier, companies that abide by environment-friendly practices such as green packaging stand a bigger chance of getting into the ‘good books’ of the customers and the regulatory authorities. By switching to sustainable packaging, not only can businesses enjoy hassle-free business operation, they can also ensure that they create a good brand image in the market. Environmental sustainability has become increasingly popular among millennials who form major drivers of growth and profits in several industries. Hence, with the help of green packaging methods companies can easily capture the support of this section of the target customers.

Easier grants and incentives

Grants, incentives, and favorable loan rates are sought after by almost all businesses. Governments and independent bodies offer incentives to invest in energy efficient and green technologies. Using these funds companies can easily buy equipment to reduce their carbon footprint. Moreover, in most cases, these grants and loans are offered at a no-interest or a low-interest pattern.

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product research

Unveiling the Packaging Trends of 2018: 5 Things You Need to Know

Packaging trends are rapidly evolving with each passing year. With the current trends in buying behavior of customers and a large number of options at their disposal, it is not surprising that companies in the packaging industry are expected to be more innovative than ever before.  Broader themes of preservation, automation, aesthetics, sustainability, and trust are now at the forefront of packaging trends. From going light and flexible to healthier foods and clean labeling with packaging, it looks like the packaging industry is geared Request Proposalup to awe customers in 2018. Here are some of the key packaging trends that have made it to our list this year:

Less is more

Sustainable packaging is one of the key packaging trends that is gaining traction due to the rising need for cost efficiency and optimize packaging materials without compromising on the food and beverage products. Also, the focus on boosting conversion rates and development of better packaging equipment offers many options to reduce energy use in the packaging industry. Using fewer materials and less energy during packaging production without compromising on packaging integrity is slowly becoming popular among packaging companies.

Digital print

Packaging and labeling companies are responding to the market’s demand for more customization and personalization and companies are now investing in the toolset to make this possible. 2017 was a tipping point in the fact that there were newer narrow web digital press installations for the first time ever. Digital print in flexible packaging and folding carton segments is expected to be one of the interesting packaging trends to watch out for this year.

Building brand experience

Online and offline shopping with door delivery is on the rise, hence the visual and tactile impacts inside a delivery can be a powerful selling point for brands. Logos, illustrations, and photos can either be printed on the protective packaging materials or directly on the shipping box. This can help deliver a brand experience that connects with consumers and further communicates how that brand value is enhancing their lives. By using custom packaging, companies can reinforce their mission and lifestyle, as well as the customer lifetime value. As companies discover more about their customers, both their shopping and unboxing experiences will become more personalized.

Transparency and clean labels

Food traceability and complete transparency have become more important than ever for consumers. This year, we can expect packaging designs that will enlighten consumers’ purchase decisions with concise, easy to understand design elements, and messages to help consumers focus on the product qualities. Aiming for packaging designs that enlighten consumers’ purchase decisions, brands will reject approaches that offer too much or too little as they can leave shoppers more confused than informed. Since modern consumers are highly informed, brands can face the risk of being rejected if consumers feel overloaded with information, leading to the questioning of provenance, transparency, and authenticity.

Flexible packaging

Flexible packaging remains one of the fastest growing packaging formats due to its premium branding, convenience, functionality, and sustainability. Companies in the packaging industry are excited about the opportunity to disrupt a category with a new package design that provides greater shelf appeal, is easy to store, easy to open and reseal, easy to carry, extends product life, and uses less material which provides shipping efficiency and optimizes e-commerce. Flexible packaging is one of the most popular packaging trends this year as it delivers compactness and durable barrier protection while maintaining the lowest possible carbon footprint.

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5 Reasons Why You Should Switch to Returnable Packaging Right Now

Returnable packaging is one of the trends in the packaging industry that has been gaining immense traction in the recent times. The definition of reusable or returnable packaging is a no-brainer. As the name clearly suggests, it refers to the packaging that is designed for repeated reuse. This type of packaging is often designed to promote durability, ease of cleaning, ease of use, ease of repair, and collapsibility or nestable design to provide inexpensive return when empty. Reusable packaging can include primary consumer packages, such as beverage containers, as well as transport and industrial packaging. The focus of this piece is on transport and industrial applications. Modern companies are in a rat-race to identify new strategies to impress customers and gain a competitive advantage. Using sustainable methods such as returnable packaging and reducing the carbon footprint is a great way for companies to improve their goodwill. Here are some benefits that reusable packaging offers to companies:Request Free Proposal

Increased efficiency in transport

Returnable packaging is ideally made from materials that are known to be more durable than traditional packaging options. The packaging industry is constantly improvising on the materials used in reusable packaging to ensure that better quality of materials that can be repeatedly used. This type of packaging has proven to perform better in stressful situations like moisture, heat, and other environmental factors. Furthermore, packaging can be loaded more efficiently, reducing the cost of multiple transportation requirements.

Limited storage space requirement

When companies rely on reusable packaging, they do not have to allocate additional space in their warehouse for packaging materials. This saves a lot of space and money for companies. The excess storage space can be used for other vital materials or operations. The primary goal of returnable packaging is to have “enough” but to eliminate the situation of excess.

Environmental implications

Apart from saving a great deal of time and money, reusable packaging helps companies to join the go green bandwagon and reduce the carbon footprint and environmental degradation activities. When companies resort of packaging that can be returned or reused, less packaging materials have to be manufactured, which reduces the amount of energy that is required to produce packaging and brings about a decrease in the number of greenhouse gases that are emitted during the process.

Lower waste management cost

In the case of conventional packaging, the packaging materials once used are treated as waste materials. Reusable or returnable packaging can save firms from the costs of waste management throughout their entire global supply chain. Such savings will have a trickle-down effect that will reduce overall costs for supplies in the long term. It naturally reduces the overall costs that can either pass on to the end user or act as an additional revenue. Moving waste around can be a  costly affair, not just in terms of money but in the effect that it has on the environment and the public’s perception of the business. 

Cut down labor costs

Relying on reusable options can help companies to reduce the amount spent on additional labor cost in the warehouse. Ideally, this innovative packaging technique does not require many hands to construct or to load.

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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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packaging cost

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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