Paper and Packaging Industry – Widening Horizons with These Trends
The global paper and packaging industry is expected to grow exponentially as a result of the sudden surge in the demand for sophisticated packaging for several consumer goods and products. In the packaging industry, paper packaging is popularly used in the consumer packaging category and accounts for a high market share. In order to maximize their […]
The global paper and packaging industry is expected to grow exponentially as a result of the sudden surge in the demand for sophisticated packaging for several consumer goods and products. In the packaging industry, paper packaging is popularly used in the consumer packaging category and accounts for a high market share. In order to maximize their revenues, packaging companies must stay abreast of the latest trends in the global business economy, ensure optimum management of raw materials and packaging supplies, reduce packing material wastage, and develop a robust supply chain. But how can companies identify such trends to boost revenues, you ask? Simple, companies in the packaging industry must understand their market and competitor landscape by leveraging insights gained through various business intelligence solutions such as market and customer intelligence.
Trends in The Paper and Packaging Industry
Packaging companies, referred to as converters in the packaging industry, transform raw materials into industrial grade materials and packaging supplies – placing them at a key position in the overall supply chain. Paper and packaging organizations must identify, analyze, and study the data to respond to the emerging trends in the global market effectively. Packaging producers must concentrate on tapping the growth potential in the emerging markets as well as in the developed economies. Let’s have a look at the trends that are transforming the packaging landscape.
- Urbanization, climate change, and resource scarcity are few top trends that are transforming the packaging market scenario. The increasing demand for housing and construction in urban areas has led to an increase in demand for alternative construction materials due to the scarcity of natural resources. The e-commerce boom has facilitated the usage of alternative packaging options such as green packaging and corrugated packaging
- Technological advancements are impacting every industry, including the packaging industry. Thanks to the combination of 3D printing or additive manufacturing, Internet of Things, and growing popularity of drones and robotic process automation, packaging companies are developing smart packaging alternatives to create a competitive advantage
To know more about the trends in the packaging industry