Top Trends in Packaging – Industry Insights

Top Trends in Packaging Industry Report Overview

The packaging industry is adopting various cost-saving measures to enhance efficiency and maintain competitiveness. They are also enhancing their logistics and automation processes to optimize operations and reduce costs. Furthermore, the industry is focusing on sustainability to meet the demand for eco-friendly packaging solutions. By capitalizing on these trends and enhancing efficiency, companies are better placed to navigate challenges such as falling consumer spending and rising energy, material, and labor input costs.

The top trends in packaging are classified into market trends, environmental trends, and technological trends. Shrinkflation and winning at the shelf are the key market trends. Material evolution and automation in packaging machinery are a few technology trends.

Top Trends in the Packaging Industry

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The ‘Top Trends in the Packaging Industry’ report provides an overview of the main trends influencing the global packaging demand in 2024.

Top Market Trends in the Packaging Industry

Shrinkflation: Sometimes described as a “backdoor price increase”, shrinkflation has become a commonly used industry tactic to respond to rising costs in raw materials, production, transportation, etc., that would otherwise be passed to consumers in the form of end-product retail price rises. Bluntly, consumers hate price rises; thus, the FMCG industry has seen a proliferation of the strategic use of incremental reductions in what consumers get at the price point they are used to.

Winning at Shelf: Packaging plays a key role in grabbing attention and presenting a purchase case to consumers. Product packaging’s essential nature as a delivery system is combined with its role as a communication device. Digitalization continues to extend the range and depth of information available via packaging. Packaging design must balance standing out with the familiar. It should not be forgotten that the primary purpose of packaging is to contain and conserve products optimally, in addition to representing and communicating a brand’s identity and philosophy.

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Top Regulatory Trends in the Packaging Industry

Regulation for Environmental Change: DRSs are currently strongly associated with high-volume beverage packaging, but their use may extend to other areas in the future. DRSs are significant in their involvement of consumers as stakeholders with a financial interest in the process. Packaging producers should preempt the potential effects of regulation through innovation, and the use of sustainable materials in packaging to reduce waste and environmental impact. The shift in emphasis to Extended Producer Responsibility, as exemplified by the EU PPWR’s aims for 2024, means producers need to have better-developed plans for the post-consumer parts of the lifecycles of their packaging products. Potential overregulation necessitates industry proactivity. Producers must ensure they are ahead of regulatory trends look to inform the process and prevent regulatory over-reach that undermines progress in other areas.

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Top Technology Trends in the Packaging Industry

Material Evolution: Paperization is a core material trend within packaging that will only continue to gain momentum. Paper-based solutions are being adapted to an ever-wider range of goods, with biodegradable partner materials increasing recyclability and efficacy where previous laminates failed. Material and packaging design changes can have a price concerning consumer perception.

Tech Enablers for Smart Supply Chains: Supply chain traceability solutions powered by IoT and cloud are increasingly popular for tracking and monitoring packaging. Packaging companies should improve their supply chain management and traceability using key technologies such as AI and IoT.

Automation in Packaging Machinery: Increased automation can aid in meeting consumer needs for reliable, cheaper products. Rising automation since the pandemic has shown a thematic focus on the environment and robotics. and similar predictive technologies are implemented to improve maintenance, quality, and costs.

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Scope

• Shrinkflation has been around as an issue for some time, but is gaining greater attention in times of rising industry costs and consumer tightness. This makes it ever more important to stand out on shelves and communicate effectively.

• Regulation is a huge influence, as efforts around the world to control the impact of packaging waste on the environment become more universal.

• In technology terms, evolution in packaging materials is stemming from, and responding to the above factors.

• Smart supply chains and machinery automation are squeezing as much efficiency out of production and the end product as can be.

Key Highlights

• Shrinkflation has been around as an issue for some time but is gaining greater attention in times of rising industry costs and consumer tightness. This makes it even more important to stand out on shelves and communicate effectively.
• Regulation is a huge influence, as efforts around the world to control the impact of packaging waste on the environment become more universal.
• In technology terms, evolution in packaging materials stems from and responds to the above factors.
• Smart supply chains and machinery automation are squeezing as much efficiency out of production and the end product as can be.

Reasons to Buy

• Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.