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Coronavirus (COVID-19) - Packaging sector Impact - 04 August 2021

Published: 04 August 2021 Code: GDCOV-TR-X078

Globaldata's report on the impact of COVID-19 in the packaging sector includes detailed coverage on the packaging sector analysis, COVID-19 impact and sector insights among others.

COVID-19 has spread to over 198 countries with a total of more than 194 million confirmed cases and over 4 million deaths. The number of confirmed cases is the US is over 34 million, with cases again rising after a sustained period of decline. As in many other countries, most new cases are of the Delta variant, with hospitalizations also on the rise (97% of those admitted are unvaccinated). Total COVID-19 vaccine doses administered have now surpassed the total number of confirmed cases, with a total of over 2.9 billion single vaccine doses administered. China leads in the total number of vaccinations, while Canada leads amongst top economies in the percentage of population that has received at least one dose of the vaccine.

A concrete summary of the impact of COVID-19:

  • Hiring prospects appear to have been gradually improving since April 2021
  • Nearly 45% of employees report an increase in productivity during WFH
  • Most offices will return to at least 50% capacity in the next six months
  • 3 in 10 employees prefer to visit their office daily after the pandemic
  • Technology will continue to change the way we work over the next three years
  • Artificial intelligence is driving change in working practices
  • Most respondents continue to work from home full-time

Sector insight:

  • The industry continues to be affected by reduced demand for many consumer goods products compared with pre-pandemic times. However, shelf-stable food and household packaging continue to be in high demand. Manufacturers continue to seek packaging optimized for e-commerce, and hygienic packaging formats are a priority
  • Alcoholic beverages are anticipated to see gradual recovery which will impact demand for glass packaging. There has been continual demand in the pharmaceutical sector, as well as for food jars. As the focus shifts back towards sustainable packaging, the glass will see greater growth. In 2021, glass is anticipated to see 2.4% volume growth compared with 2020
  • Demand for office paper products has fallen while demand for corrugated cardboard is trending upwards due to the growth of e-commerce and grocery deliveries. In 2021, paper & board is anticipated to see 2.8% volume growth compared with 2020, and volumes set to recover to pre-pandemic levels by 2024

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