Shifting consumer demand towards appealing products and growing need for protection of goods during storage, shipping, and transportation are few factors that evolve the need for packaging in today's modern world. Packaging plays an important role in the storage, protection, and branding of a variety of goods in different end-use industries. Evolving consumer preferences with the rapid increase in disposable incomes of middle-class households in developed as well as in developing economies have created a huge demand for more and more convenience products.

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Food & beverages industry witnessed substantial growth in the last few years due to the ever-increasing sales of packaged food products globally. The packaging industry has witnessed major technological advancements and noticeable evolution in food packaging formats. Packaging manufacturers are spending a large chunk of money on research and development activities to develop high-barrier packaging solutions to extend the shelf-life of products. Multi-layer films have been developed by major packaging manufacturers to cater to a specific segment of the industry. Different food products require different storage conditions and packaging characteristics to stay fresh for a long period of time. The packaging of liquid food products is dominated by PET bottles and Metal Cans. Beverages cans are predominantly used by major soft drinks manufacturers for optimum protection and storage of their products. However, PET bottles are gaining traction due to easy availability, cheaper costs, and similar characteristics. Recent trend of inculcating active, smart, and intelligent packaging technologies in different packaging formats is driving the growth in the food & beverages packaging industry. The similar level of trends are also observed in the global markets of packaging products used in other end-use industries such as automotive, personal care, cosmetics, home care, and electrical & electronics.

 

Newton Consulting Partners expects that the development of new technologies and innovation in existing ones will bring a revolution in the global packaging industry in the next decade. It is noticed that the fast adoption of these advancements among the consumer is another driving force which will fuel growth in the industry. However, it is becoming difficult for companies across the packaging value chain to estimate the market demand, understand consumer behavior, market trends, drivers, and challenges. Companies are seamlessly trying to gain insights on their competitor’s strategies and recent developments which will help them to stay ahead of them and formulate better growth hacking strategies. Newton Consulting Partners is a one stop solution for these challenges. We help our clients to understand and evaluate each upcoming and existing trend in the market. We are the world’s no. 1 market research and management consulting solutions provider in the pulp, paper and packaging industry. As one of the trusted provider of research solutions to the top companies across the globe, we are at forefront of the industry.