According to some figures, the global packaging market could explode to be worth as much as $1.2 trillion by 2028.
That means you can expect the industry to continue to evolve for years to come, and for trends to come and go. Here, we’re going to take a look at what we think are just some of the trends we’ll see in 2021 and beyond.
Don’t get left behind in a greener market
Green. Sustainability. Environmental impact. Whatever you choose to call it, the focus on the future of the planet has shifted from ‘important’ to ‘non-negotiable’ for businesses and consumers alike.
With its historical use of plastics, the packaging industry should expect to be front and centre in the green drive over the coming years. There are a number of alternatives to traditional single-use plastics, including bio-based materials and traditional recycling, and the industry will likely see widespread adoption of both.
You can also expect to see more proactive government regulation brought in to enforce the required standards.
Will you profit from exploding emerging markets?
The global economy has undergone a fundamental shift in the past couple of years, first through the trade wars between the US and China, and then as a result of the pandemic.
However, key emerging markets are growing massively in terms of their consumer spending power, not to mention their exposure to modern retail. Other countries, such as Brazil, are seeing an explosion in the number of their middle classes.
As a result, in terms of pure numbers, you can expect the packaging industry to explode as companies seek to meet the increasing worldwide demand. It’s also very possible that competition for creative production resources and materials will also grow as a result.
Slow moving companies struggle to compete
The advent of the internet means that trends move faster than ever before. A single viral marketing campaign can shift consumer desires rapidly, which means that companies will likely need to alter their concepts and designs with more speed.
As a result, it’s important that companies prepare by ensuring they have the capacity to be flexible, and to roll out changes quickly. Slow moving companies will likely struggle to keep up with evolving demand, and could miss out on sales as a result.
Packaging requirements change…will you keep up?
E-commerce was already beginning to dominate brick and mortar stores prior to the global pandemic. However, lockdowns caused online shopping to go supernova. Jeff Bezos alone added billions to his net worth because of Amazon’s exploding profits!
The days of packaging designed solely to grab attention on supermarket shelves is long gone. Instead, a lot more focus will be on packaging that’s efficient and easy to ship, as well as smaller to store. Essentially, more focus on productivity and practicality, as opposed to visuals.
Of course, that doesn’t mean companies will be able to entirely sacrifice visuals. Why? One word; unboxing. Over the past few years, the trend of ‘unboxing’ videos on YouTube has skyrocketed, and companies will definitely have to adjust. Grabbing attention in store is a different thing to looking good on video, of course, and companies will have to learn how to appeal to a marketing strategy that’s still very much in its early days.
Forward thinking companies will need to focus more on how best to use their resources in the most efficient way, rather than focusing entirely on their branding and design.
The global shift
Competition will force more and more companies to maximise their bottom line without massively increasing their spending. The rise of Zoom, RingCentral, Skype, etc have changed company perceptions of how easy remote working can be in 2021.
As a result, you can expect more and more companies to look at moving their creative production offshore. Not purely for ‘cost-cutting’ reasons – as might have been the case 20 years ago – but because it’s possible to do so while enjoying a level of communication that’s not any different than having a normal remote working team.
To find out more about offshoring creative production services, contact We Are Amnet today.