With new legislations and regulations expected to create an impact on business operations amidst growing environmental concerns, organizations are focusing efforts on restricting potential increases in the cost of machinery, and complying with legislative changes. As online retail and sales of unpacked goods will disrupt business operations, packaging features such as recyclability, light weighting, and premium look will be favored. By 2021, research and development is expected to benefit from increased investment by packaging organizations with demand increasing for flexible plastic packaging, pouches, and premium paper or board packaging.
-Half of packaging industry executives expect a moderate impact of new legislations and regulations on business during the next five years
-Of respondents who operate in Europe, 42% expect growing environmental awareness to cause the biggest disruption
-Being recyclable and achieving a premium look will be the most important pack features in 2021
-Demand for pouches and flexible packaging will increase the most to 2021
-Research and development budgets will benefit from the most investment, but data analytics is not a priority for packaging companies
-Only 37% of packaging companies will employ a data analytics officer in the next five years
Canadean's Opportunities and Threats to the Packaging Industry in 2021: A Global Executives Survey examines executives' opinion about the key opportunities and biggest threats for the packaging industry over the next five years. The report identifies areas with significant cost rises by 2021 and evaluates the potential impact of new legislations and regulations on business operations and key markets. Additionally, the report highlights consumer trends likely to cause major disruption in business operations, indicates potentially important pack features for clients and analyzes change in demand for packaging types by 2021.
What else does this report offer?
-Areas with significant cost rises: examine the areas expected to record significant cost rises between now and 2021
-Impact of new legislations and regulations: know the potential impact of new legislations and regulations on business operations and key markets
-Key consumer trends: identify consumer trends anticipated to significantly disrupt business operations
-Projected importance of pack features: analyze future significance of pack features
-Demand outlook for packaging types: evaluate projected change in demand for packaging types by 2021
-Business segments projected to benefit from investment: identify areas anticipated to benefit the most from investment over the next five years
-Current and future status of chief analytics officer position in the organization: know about organizations' views on the chief analytics officer position during the next five years
-Projected change in budget for market data analytics: analyze market data analytics' budget outlook
-Organizations can implement effective cost management techniques by knowing about areas with significant cost rises between now and 2021
-Organizations can restructure business strategy by understanding the consumer trends expected to create the biggest disruption to business operations
-Helps to alter packaging by knowing about pack features that will be important for clients by 2021
-Organizations can focus on specific packaging types by analyzing the projected change in demand for packaging types by 2021
-Helps to modify investment allocation by identifying areas anticipated to benefit the most from investment over the next five years