INNOVATION AND TECHNOLOGY ARE KEY TO THE FUTURE OF PACKAGING
Changes in consumer behaviors present big challenges for the packaging industry as it tries to respond and provide brand owners with optimal solutions. Two major trends currently driving industry growth are the booming ecommerce trade and increased customer demands for convenience. The global packaging market value was USD 906.59 billion in 2018 and is projected to have 6% growth annually from 2019-2023. In 2018, 42.5% of the global sales value was dominated by Asia where the demand for packaged goods, along with the rapid expansion of urban populations, is on the rise.
Last year, L.E.K. Consulting conducted a survey of 250 brand owners across the packaged goods industry and found that 75% expect to increase their packaging budgets in the future. While 55% said that they have entered the digital sales channel and need packaging with the ability to protect and maintain the quality of their products during delivery.
Rigid packaging, including corrugated packaging, will increase in demand due to its stable structure and lower environmental impact. There will also be a greater demand for sustainable packaging this year. According to the same survey, 85% of brand owners made an effort to change their packaging substrate material to increase the ease of recycling. Natural materials may also replace common plastics and enhance a brand’s image in environmental friendliness.
Brand owners are now looking for innovation and value creation in their packaging. Smart packaging is one of such trend in which augmented reality (AR), cloud labelling, and track-and-trace tech are set to grow. This connected packaging can communicate with consumers in innovative ways and change how they interact with products and their packaging. There is also a rise in demand for personalized packaging in order to increase consumer engagement. This will like lead to digital printing as a key solution as it offers unlimited design possibilities and can make packaging stand out on the shelf.
To overcome disruptive changes, digitalization is being adopted in the packaging industry to drive down costs and gain a competitive edge by integrating technology into packaging to add greater customer value. Digital technology will play a role in boosting cost-efficiency via automation and interactive tools to convey information and emotion to customers. The packaging industry is also implementing more and more robotics in manufacturing lines because it can provide a higher, faster and more accurate output.
As technological innovations continue to evolve, packaging will go far beyond just containers. With the adoption of automation and advanced technology, the packaging industry will be able to offer innovative solutions to brand owners to increase customer satisfaction and enhance their brand image, while simultaneously increasing their efficiency and productivity. ProPak Asia, held from 17-
20 June at BITEC, Bangkok, will gather packaging machinery and technology from around the world for packaging industries who are looking to increase profits and respond to customer demands. Do not miss out on this opportunity of digitization. For more information about the ProPak Asia 2020 Exhibition, please visit www.propakasia.com
ProPak Asia 2020 at a glance:
Date: 17 — 20 June 2020 (Wednesday — Saturday)
Time: 10:00hrs — 18:00hrs
Venue: Bangkok International Trade & Exhibition Centre (BITEC), Thailand
About ProPak Asia:
ProPak Asia 2020, the Processing & Packaging trade event for Food, Drink, Pharmaceutical, Cosmetics, and Consumer Products brought together exhibiting companies and buyers for a record breaking 2019 edition. This event is the center stage for market trends, industry & investment networking, and environmental discussion. Nine industry focused zones assemble brands and participants to network with buyers from across the world at ProPak Asia to discover solutions, new technologies and invest in the world's most vibrant industries. With ProPak Asia's strong relationship and support from stakeholders, associations, institutes, and industry leading experts amass industry specific thought-leading conferences, industry trend seminars and technical workshops.
ProPak Asia 2020 will be the biggest processing & packaging trade exhibition in Asia, utilizing 65,000 sqm within nine halls of BITEC; expecting more than 55,000 buyers from 90 countries, and more than 2,300 exhibiting companies from 50 countries.
Email: [email protected] Tel: +66 2 036 0500 (Ext: 728)