In the consumer goods industry, the packaging of the end product plays a decisive role in the overall aesthetic appeal of the product for the potential buyer while performing the basic duties of delivering the products in a convenient, safe, sufficiently sophisticated, and appropriate way. Serving a high number of industries producing tangible products for a large set of consumers, the packaging sector forms a critical segment of any consumer goods business. With the retail industry on the verge of a massive transformation and rising numbers of hypermarkets and supermarkets making aesthetics pivotal in deciding consumer response and product success, packaging is witnessing increased focus from consumer goods manufacturers.
The global market for consumer packaging has witnessed a significant rise in research and development activities in the past years. Companies in the market are ploughing increased revenues into research and development of new and innovative varieties of packaging materials and products.
Listed below are some of the key trends associated with the global consumer packaging market:
Volatile Costs and Environment-related Concerns Associated with Conventional Raw Materials Drive Demand for New Product Varieties: It is known that the packaging industry contributes a massive share in the overall waste generated across commercial and residential sectors across the globe annually.
Packaging products are often discarded after the product packages are unpacked, a vast quantity of which is made from materials that are either non-biodegradable or are not economical. So as to bring down the amount of waste generated from consumer packaging, several companies in the packaging industry have focused their efforts towards the development of new products varieties that either use biodegradable products such as corn starch or have reduced amounts of material used in manufacturing the packaging product.
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Changing Food and Beverages Consumption Trends Drive Demand for Products with New Features: Over the past few years, the overall uptake of packaged foods and beverages has multiplied manifolds across the globe. This trend has necessitated the development of packaging products and materials that can extend the shelf life of consumable products and prevent them from going to waste. This need is intensified in today’s era owing to the busy lives of working individuals, rising public awareness regarding the scarcity of food, and rising prices of food products.
These factors have increased research activities surrounding the field of antimicrobial packaging, which is a variety of controlled release and active packaging that primarily acts by killing the pathogenic microorganisms affecting the product that is packed, thereby increasing its workable or shelf life. The packaging type is increasingly gaining acceptance in the food and beverages industry and is also expanding its consumer base in industries such as healthcare and personal care.