Hope you enjoyed National Talk Like a Pirate Day on September 19th. No? Just me?
Pirate or not, we're each able to take advantage of the calm seas and fair winds brought on by the consumer trends influencing increased packaging use. According to the below article from Packaging World, CPG companies are expecting to increase spending on their packaging by more than 10 percent, influenced by many of the trends I write about each week: e-commerce, sustainability, snacking and serving size, and the changing nature of retail. In our increasingly Instagrammed culture, consumers are using brands as yet another vehicle to tell the world their personal story, and this is propelling growth especially in premium product packaging.
Paper and paperboard packaging is not only seen as more premium, but also as more natural and sustainable. Each of these are called out in the article below as trends impacting increased packaging investment. With paper and board covered in BASF Acronal® paper coatings and enhanced with vibrant inks and coatings based on our leading Joncryl® resin products, formulators, printers and converters can ride this wave towards increasing consumer packaging complexity and ever-higher packaging volumes.
Have a great weekend, landlubbers!
CPG spending on packaging on the rise
Drivers of this investment in packaging include the rise in premium products, customization, and consumers' focus on health and environmentally-friendly products, among others.
Seventy-five percent of Consumer Packaged Goods brand owners say they're going to spend significantly more on packaging over the next year, with a third saying they will increase spending by more than 10%. That's according to a new survey of 250 CPG brand owners by L.E.K. Consulting, which also found that 90% of brand owners say packaging is critical to their brand's success as they seek to adapt to an increasingly competitive landscape and rapidly changing consumer tastes.