Consumer Packaged Goods
September 23, 2015
Thinking Outside the Box: All You Need to Know About Packaging
Packaging is essential to the marketing process, as a product’s package often serves as the brand’s image-maker. In every industry sector, packaging continues to evolve in response to consumer demand and business considerations to create strong and predictable packaging industry trends. Building a brand through packaging requires that package manufacturers know about these upcoming trends to increase awareness, sales and loyalty among customers.
Sustainability
More than 70 percent of Millennials consider themselves environmentally conscious, according to a Stora Enzo report, and 59 percent of Millennials consider sustainability in packaging important. In fact, the report shows that 44 percent of Millennials are willing to pay premium prices for products offered in sustainable packaging.
Sustainable packaging comes from renewable sources, such as wood fibers. These packages should be recyclable, biodegradable, reusable and sometimes even compostable.
Providing sustainable packaging can have financial incentives, potentially boosting net sales by 2 to 4 percent. Packaging can also help teach consumers how to recycle or dispose of packaging in a sustainable way.
Transparency
In an effort to know where their products come from, consumers are demanding supply chain transparency more than ever before. Creating transparent packaging appeals to this consumer desire and it can also help companies avoid legal and environmental consequences that could damage brand reputation and relationships with customers and stakeholder.
Brands can implement packaging transparency by communicating their sourcing and enhance labeling to give consumers a clear indication of how the brand is improving packaging traceability.
Barrier/Coating Technology
Paper and board used in food contact applications will continue strong growth. This segment grew more than 6 percent annually between 2009 and 2011, according to the research group Smithers Pira, reaching a total of $50.4 billion. At that growth rate, the global paper and board market will take in some $70 billion.
The robust growth of paper and board challenges the ability of brands to ensure coating technologies work safely and effectively, particularly when it comes to food packaging. The strongest growth is likely to be in water-based coatings and barrier technologies. Experiencing linear growth for several years, according to Markets and Markets, the global water-based coatings market will likely reach nearly $78 million by 2019.
The newest barrier technologies are renewably sourced, readily recyclable and biodegradable. The demand for bioplastics, made from renewable and biodegradable biomass sources, will grow from 0.2 percent of the market in 2013 to 2.4 percent to reach approximately 9.45 million metric tons by 2023.
Lightweight Packaging
Lightweight packaging is increasingly important, especially in the food and beverage industries, because of environmental sustainability and reduced costs throughout the supply chain. Durable and easy to carry, lightweight packaging also provides a convenient on-the-go experience for the consumer.
Easy to Open, Easy to Close
Packaging that is easy to open and close will continue to do well with consumers. In one survey of more than 500 consumers, 85 percent of respondents reported feelings of frustration while opening a package. Forty-nine percent of these said that food packaging was the cause of their frustration.
Today’s packaging reflects trends in consumer preferences and purchasing habits, especially sustainability, transparency and convenience. Companies that respond to these packaging industry trends can increase brand awareness, sales and loyalty.
Sources:
http://www.storaensopack.com/sites/default/files/Viewpoint_Future%20Packaging_EN_Low%20Res.pdf
http://www.smitherspira.com/products/market-reports/paper/he-future-of-food-contact-paper-and-board-to-2017
http://www.marketsandmarkets.com/Market-Reports/waterborne-waterbased-coatings-market-205422792.html
http://www.smitherspira.com/news/2014/february/bioplastics-packaging-industry-forecast-to-2023
http://consumer.essentrapackaging.com/en/home/news/news/2013/01/packaging-resolved-payne-reveals-findings-from-major-consumer-research-study/
http://www.equipnet.com/
http://www.packexpolasvegas.com/
Categorias: Consumer Packaged Goods
