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Packaging industry trends

Investing in the North American Packaging Market: Key Packaging Industry Trends Poised to Take Off

North America remains the global leader in the packaging industry right now. Although the North American packaging market faced a brief dip in 2009, the sector has seen steady growth over the past couple of years. However, new packaging industry trends such as the rising need for eco-friendly and sustainable solutions are posing new challenges for companies in the sector. Also, China is poised to become a packaging industry major by 2020, and together with other markets in Asia, it will remain the industry’s top growth engine alongside North America. While this shift is notable, North America’s relevance in the global packaging market remains substantial due to its size and rate of innovation. The largest end-user segment of the North American packaging sector is food, while the fastest is projected to come from healthcare and cosmetics, closely similar to the global packaging industry trends. This blog provides a packaging industry overview in North America, highlighting the key packaging industry trends that investor and companies can expect to see.

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North american packaging market

North American Packaging industry trends

Impressive growth in Mexico

Mexico is predicted to have the highest packaging industry growth among the three North American countries. One of the key packaging industry segments that is expected to show positive growth in Mexico is the soft drink beverage packaging that meets the needs of customers seeking both versatility and sophistication from their packaging.

Success of rigid plastic packaging

Packaging industry trends such as rigid plastic packaging is forecasted to show steady growth in the North American packaging market and will experience the highest growth rates across plastics. Furthermore, PE and PET will remain the main plastics used for consumer manufacturing.

Paperboard to lead market share

Paperboard is one of the notable packaging industry trends that suffered a steeper decline than most other packaging materials during the recession, especially in the US. However, it has recovered quickly and returned to pre-crisis levels. In the North American packaging market, paperboard holds the largest share of packaging consumption. Corrugated packaging claims the largest share of the North American paperboard packaging sales.

Companies often tend to overlook the key packaging industry trends and challenges that can have a significant impact on their business. Get in touch with our experts to know how our solutions can help you stay updated and engage in making the right business decisions.

Recovery of industrial sectors

The North America economy is greatly affected by uncertainties. This also includes the impact of the European economic crisis and political uncertainty in oil-exporting countries. The US has also been significantly affected by falling real estate values and difficulties in securing financing for future investments. However, the industrial segments have been in recovery since a sharp downturn in demand a decade ago. Real estate values are now also starting to show recovery. The proliferation of several innovative packaging industry trends and growth of the packaging sector can be expected in the next few years.

Retail-ready packaging

Packaging industry trends such as retail-ready packaging provides an attractive structure as well as advertises a product. It refers to packaging in the form of a self-contained unit that is delivered to a retailer and is immediately ready for on-shelf product display without the need for assembling or unpacking. Such packaging industry trends significantly cuts down on operation costs as the shipping-package is shelf-ready. Retail ready packaging is continuously gaining popularity and traction in North America as a number of retailers consider its implementation and others expand their efforts in the area. This is due to an increased understanding of RRP, and the ever-growing penetration of RRP across categories.

Learn more about the key impact of packaging industry trends in North America on investors and businesses.

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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

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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.

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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