The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Packaging Food for the Future
The food packaging industry includes a wide range of sectors including packaging material and packaging alternatives. Fiber based materials including carton, liquid carton and corrugated contribute 31% of the total global packaging market. Food packaging is the largest end-user market for corrugated materials accounting for 40% of the total consumption.
Five Major Trends That Will Affect the Future of Food Packaging Industry
1. Increasing importance of design and shelf standout
Brands will invest in high quality printing and design solutions to make their products standout amongst the rest.
2. Cost Reduction
Retailers and brands will look for innovative solutions to reduce cost and optimize business operations.
3. Sustainability and Eco Friendliness are growing in Importance
Consumers today are more eco conscious than a decade ago. Brands will focus on sustainability and eco friendliness throughout the value chain
4. Intelligent Packaging
Intelligent solutions like RFID and sensor technology will be more important in future.
5. E-Tailing Volumes Will Continue To Increase
Online food retail will experience strong growth in future. Customers will choose the brands which will provide time-saving alternatives for grocery shopping.
Key Success Factors
1. Enable Basic Functionality
Providing protection and security for the products throughout the value chain are the main objectives of packaging. Consistent performance, meeting customer requirements and excellent support are the main things which should be considered to deliver basic functionality.
2. Reduce Cost
Cost reduction can be achieved using the innovative solutions which can improve the functionality and process of packaging.
3. Optimize Operations
Reliable and flexible inbound logistics, disturbance free production and in-store efficiency are the main points which should be considered while optimizing supply chain.
4. Brand Value Building
Packaging will be the important part of the marketing strategy. It will help in creating brand awareness and attracting new customers.
5. Communicate the Value of Being Sustainable
Sustainability will be a serious theme in 2016 and beyond. Brands will aim to provide sustainable and eco friendly packaging solutions.
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About the Author
By Mark Dawson, Marketing Manager at Globe Packaging