Consumer Goods Packaging Market Research Reports, Industry Analysis and Trends
Consumer goods packaging is the process of packaging of goods that are used by consumers. Goods that come under this category are electronic devices, household appliances, food and beverage products, and grocery items. Packaging is an utmost and highly important aspect in trade of goods; from manufacturing to delivery, packaging is what keeps the product safe from damage and spoiling due to pressure and temperature variation. Majority of the packaging of goods is done for retailing. The ever changing consumer taste and demands have given packaging companies a lot of opportunities to innovate and be creatively diverse in consumer goods packaging.
Environmental concerns being one of most talked about and promoted issue in almost all industries, modern packaging involves using re-usable and recyclable materials. Other concern being the value packaging brings to the product/ consumer good. Value that packaging brings is virtual in nature; values such as protection from damage, preferable and re-usable quality etc. Primarily, protecting the integrity of the product is more preferential and the top priority for any consumer goods packaging solution.
The rate at which inflation is growing, almost all industries and sectors are cutting down on costs and maximizing efficiency. For a business to prosper good products are not enough or the main factor of achieving thriving success, innovative packaging solutions help to cut down costs and be a deciding point of whether there can be a sale. Packaging industry operates using materials including plastic, metal, paper and cardboard, experts in the industry use those materials in laboratories and design, execute, analyze and deliver the process of introducing new packaging solutions to variety of industries such as food & beverages, IT, chemical, and various other.
Consumer Goods Packaging Industry Current Trends
The consumer goods industry has undergone dramatic changes in the last few decades; with rises in fuel and commodity prices to high inflation rate. Consumer goods packaging seeks to serve as an incentive to purchasing of the product by designing eye-catching and innovative packaging for retail displays. Packaging serves as an ideal medium for giving information about the product to the consumer, so, the more creative and attractive the information is, better it is for deriving maximum sales. Marketing and promotions play an important role to sell a product, but the word-of-mouth and admiration for effective packaging allows the product to be more saleable.
Packaging for goods manufactured is gaining rapid momentum as there is a growth in demand for consumer goods. Sustainability has been more than a compliance issue for long time; thus, there is an increased demand for more ethical and greener materials to be used for packaging as they not only be beneficial to protect the product but also preserve for longer duration. According to World Packaging Organization, the global packaging material and machinery generates more than $500 billion yearly, which accounts for 1%-2% GDP in developed and industrialized nations. With more than 5 million employed personnel, there are more than 100,000 packaging manufacturing companies worldwide. There has been enormous explosion of growth in supermarkets and convenient stores, which has made the development of packaging industry stronger and reliable. Usage of materials that have longer decay process and the reduction of throwing away waste after consumption has been one of the driving forces for environmental friendly manufacturing of packaging as they limit the harmful effect to the planet.
Major Consumer Goods Packaging Players
Major companies that lead globally in terms of revenue of consumer goods packaging include, ALPLA, Amcor, Ball Corporation, Graphic Packaging, Rexam, Mondi, Toyo Seikan, and Reynolds Group Holding.