“30.8% of consumers shared a product packaging image on social media just because they liked it.”
GoodFirms, a globally renowned research, ratings, and reviews platform, recently released its new research report- “Packaging Industry – Current Trends, Future Demands”. The survey aims to explore reliable statistics and valuable insights regarding the packaging industry’s ongoing trends, challenges, and future demand perspectives.
The report highlights that the packaging industry is experiencing consistent growth over a few decades. It has been a supporting factor in the evolution of various industries like food, FMCG, and agriculture to protect products and ensure their safety during transportation and storage. It also indicates that the packaging industry is steadily adopting advanced packaging technology to meet the evolving consumer demands.
The survey also provides a detailed overview of the packaging industry. It points out that products: including processed and semi-processed food, drugs, medicines, electrical appliances, domestic appliances, and even industrial machinery, are embracing packaging to maintain quality and lengthen the shelf life of their products.
Read More: Genesys Strengthens India Leadership Team To Drive Innovation And Business Momentum
The survey report further mentions that due to the pandemic period, the demand for increased specialization and sophistication concerning health and hygiene is one of the major driving factors of the industry.
Further, the survey reveals that 69.2% of surveyees choose paper packaging as a convenient option. About 61.5% prefer cardboard, 53.8% plastic, 12.5% glass, 7.7% wood/fiber, and 4.5% Aluminum as a packaging material.
GoodFirms survey identified the prime factors that can impact the selection of packaging design. 76.9% of surveyees mentioned product as the biggest influencer on packaging, while 46.2% said customers are the prime factor for packaging design selection.
The survey further discloses the top trends of the packaging industry; it includes flexible packaging, QR codes, branding through packaging, enhancing the product’s aesthetics, automation, the emergence of e-commerce, product safety, and transparency.
Read More: SalesTechStar Interview with Joe Dillon, Executive Vice President of Sales at Baffle
Cost of raw materials, protection of the packaged products, packaging waste, food packaging, food waste, changing customer behavior patterns, and sustainability are the top challenges faced by the packaging industry.
GoodFirms concludes that the packaging industry has seen tremendous growth and will continue to flourish. The future packaging industry’s development will work under various factors like raising awareness about sustainable packaging options, personalized packaging, use of technologies like AI and ML to automate the process and make packaging smarter. 61.5% of the surveyees would readily pay extra for sustainable packaging alternatives.
Key Findings:
- The selection of a packaging design depends on various factors like the product packaged, shipping time and cost, customer, material, and display area.
- The emergence of E-commerce is a major driving factor for the packaging industry.
- 30.8% of surveyees share a product packaging image on social media just because they liked the packaging.
- Packaging design must be equipped with maintaining product safety which has become essential to consumers more than ever before.
- 71.8% reported having received a product with damaged packaging.
- Managing packaging waste is a challenge. Only 23.1% of surveyees recycle packaging materials, and 76.9% throw them away.