According to research by Smithers in The future of Packaging: Log-Term Strategic Forecast to 2028, between 2018 and 2028 the global packaging market is set to expand by almost 3% per annum, reaching over $1.2 trillion.
As the world was bidding farewell to 2020 and welcoming 2021, the new normal was predominant in every space. Megatrends in the packaging industry saw a disruptive shift after Covid-19 dwarfed every other trend.
With consumers growing conscious amid the Corona crisis as to how they purchased and consumed products, packaging solutions emerged as the key factor in the entire product cycle as safety and movement of goods became the utmost priority for every stakeholder.
The E-commerce industry witnessed unprecedented preference after consumers were quarantined or mandated to stay at home. Customers worldwide were left with the only option of online buying.
While industries revisited single-use plastic as their only solution with very few or less feasible alternatives available, plenty of other innovative packaging solutions paved the way for new packaging trends.
What are the factors that will give shape to the new trends in the packaging industry?
Rapid urbanization, especially in developing countries like China and India among others will give impetus to innovative packaging solutions.
Global Biosafety Concerns
Plant-based, biodegradable packaging solutions were kept on the cold shelf after the corona crisis risked contamination of consumable food items. Single-use plastic packaging came to the rescue when no other life-saving option was in sight and it is not going away any time soon.
Even though single-use plastic is on the rise currently, the innovative biodegradable packaging solutions are going to be back in trend so that fewer plastic wastes are dumped into landfills.
Alternative Packaging Designs
Customers appreciate innovative and personalized packaging that makes them feel so pampered, and the product more reliable, that they are willing to pay a higher price for customized professional designs.
The use of augmented reality, 3d digital printing, metamorphosis, and social branding methods that generate authority and trust will see an upward trend in 2021.
Conclusion and way forward
There are numerous startups upping their game for what is next. The new and existing players have to keep up with the disruptive technology to help run the engine of innovation.
With more urbanization, biosafety concerns, environmentalism, and inclusive conscience among people, the need for a more sustainable, recyclable, biodegradable plant-based packaging solution will see an upward trend in times to come.