The Flexible Packaging Outlook for 2018 published by Packaging Strategies has been released. It is no surprise to me that the outlook reported the global flexible packaging industry had healthy sales growth of 4.1 percent. The report also shared that according to industry figures growth in revenues for pouches grew at an estimated 7.9 percent. It appears that stand-up pouches are the fastest-growing segment of flexible packaging with growth pegged at 7-9 percent per year to 2023.
Furthermore, a Harris Poll commissioned by the Flexible Packaging Association reported that 83 percent of all brand owners are currently using flexible packaging of some type. In addition, 26 percent of all brands have increased their usage of flexible packaging in the past five years, and 31 percent intend to increase their flexible packaging usage in the next five years.
Once again this is not a surprise to me as for many years Century Flexible Packaging has been transitioning rigid packaging out for flexible packaging to lower production costs and provide better supply chain efficiencies. The Harris Poll also released new good reasons for a rigid packaging replacement strategy, it is consumer appeal and sales growth. Consumers like flexible packaging better and are willing to pay for it over rigid packaged goods.
We’ve touched on the many trends that support the growth of flexible packaging in other blogs like Top 5 Reasons Manufacturers Use Flexible Packaging, 7 Reasons Pouches Make Smart Food Packaging, Sustainable Food Packaging: Reducing Food Waste with Film barriers.
David Luttenberger, Global Packaging Director and packaging industry veteran, recently authored a report “Global Packaging Trends 2018” and highlighted these five trends.
- Packaging will play a pivotal role in reducing global food and product waste.
- Online brands will reinvigorate their packaging to enhance the e-commerce experience.
- Brands that adopt clear and succinct package messaging will be rewarded as consumers prefer brands that embrace minimalism.
- Brands will be called to keep marine conservation at the forefront of packaging development and to anchor the circular economy for future generations.
- Contemporary packaging formats will see the center-of-store take center stage.
To learn more about these trends download the Free Global Packaging Trends Report from Mintel.
Contact Century Flexible Packaging for consultation on ways Flexible Packaging can address each of these trends for your organization.