29 Mar 2017, 08:49 — 3 min read
With global markets integrating, there has been an increase in logistics services and consumer expectations. It is also interesting to note how technology can help change the face of certain industries. Here’s a detailed overview on how an increase in demand for the supply chain has affected the flexible packaging industry across the globe.
Why is good packaging important?
• It offers an integrated brand experience
• Greatly influences the purchasing decision of a buyer
• Solves issues like security, storage & ease of transportation
By 2020, the packaging industry is expected to grow to about $997 billion. Flexible packaging will become more prevalent with 38% of all such packaging being used in the food & beverages sector and the rest being employed for other purposes. The compound annual growth rate for the market for flexible packaging is 5.11% by 2011.
In an interesting side note it has been shown that 52% of consumers are swayed by packaging when making a decision of whether or not to buy something. This shows the immense value of flexible packaging and explains its predicted growth for the future.
Market for logistics
The market for logistics is affected by volume and weight. Efficient use of transportation space helps in economising a business’ costs. Innovative flexible packaging helps by maximising transport space which helps improve the supply chain of products. The demand for flexible packaging is now high and as explained earlier will continue to increase.
Global networking, the world becoming smaller, has impacted the way customers see brands. Now brand experience is key to the success of a product. In a world where brand experience is so important, flexible packaging and its virtues give an advantage to companies.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.