The Future of Plastic Packaging
The demands of modern consumers are continually growing and changing, meaning it’s important that the plastic packaging industry does so as well. This means that many companies will revisit and adjust their plastic packaging strategies to suit the demands of the future.
The millennials are set to take over the consumer markets within the years to come. As these years pass, technology will continue to advance and adjust. This means millennials will bring about social trends and a more tech-savvy future. Millennials have already brought a variety of trends with them, including concern for the environment; something that the plastic packaging industry greatly impacts.
It’s estimated that millennials spend around £65bn on consumer packaged goods and over the course of the coming decade, companies will be forced to reconsider their original ways of how their product packaging will appeal to their niche interests and common trends.
Millennials tend to experience a variety of emotions towards packaging which affects their behavior, therefore plastic manufactures have increased the flexibility of their packaging.
Flexible Packaging
Due to the analytics available to date, flexible packaging has seen an increase in popularity across all demographics and lifestyles in all product ranges. It is important that we meet these needs. Flexible packaging is predicted to take over more than half of the food packaging market, growing from an annual rate of 3% to a height of 53.1% by the end of 2018.
Flexible packaging will provide an eco-friendly method that meets the needs of all demographics. With younger generation consuming disposable single use products and the elderly requiring easier, lighter packaging. It is important to understand that flexible packaging has the diverse properties needed to keep up with the changes of consumers and the environment.
By the year 2020 flexible packaging is set to have a market worth of $248bn. This is predicted to be the fastest growth the packaging sector has seen in over 10 years.
Added: 06 Feb 2018 14:15
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