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Although 2019 proved to be a rather disappointing year for flexible packaging market companies in countries like the US and Europe, the trend seems to have taken a different turn post the COVID-19 crisis. The coronavirus outbreak has sparked the need for safe, durable, and disposable packaging, especially for food items. According to Packaging industry experts at Infiniti, the increasing need for medical supplies, lockdowns, and the rising instances of stockpiling could boost the demand for flexible packaging over 5% in North America and Europe. The new normal of food safety and hygiene could set new opportunities for flexible packaging companies to capitalize on and thrive in the long run.
Get in touch with an industry expert to know how our solutions can better equip flexible packaging companies with strategies to manage and fulfill the sudden demand upsurge.
Some of the factors fueling the growth of flexible packaging market right now include:
- With the rising need for PPEs and swabs, there is an increasing demand for flexible packaging in medical supplies, and this surge in demand could go on for another couple of months.
- The retail coffee market in the US can expect a rise in demand over the next few weeks, resulting in greater orders for high quality and high-value packaging and laminates.
- There is an unprecedented demand rise in the cheese and meat sector that may result in a surge of demand for unprinted flexible packaging
- In the US and Europe, demand for comfort foods and packaged confectioneries such as cookies and chocolates are increasing. This translates to a higher demand for food processing and flexible packaging companies.
Want more insights on how the packaging industry could evolve over the next few months and strategies for companies in the sector to better prepare themselves? Request a FREE proposal from our industry experts.
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Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us