Packaging Industry Business Outlook

by Sameer Joshi or 01-Jul-2018

Our Packaging Industry Business Outlook and Procurement Survey report examines executives’ opinions on the business outlook and procurement activities over June-November 2018. Organizations can know about key business priorities, supplier price variations, changes in capital expenditure, and organizations’ digital transformation strategies. Additionally, it provides information categorized by region and company types.

 Amid increasing awareness regarding the environment and public health, growing demand for sustainable packaging, improved technology, and rising competition, packaging companies are looking forward to expanding in the current market, developing new products, and improving operational efficiency over the next six months. Moreover, companies are expected to gain significant growth opportunities from emerging markets (such as China, India, and Mexico) and developed markets (such as the US, Germany, and Canada) during June-November 2018. Additionally, 33% of respondents anticipate their companies' global procurement budget to range more than US$1 million during June-November 2018. Respondents are expecting mergers and acquisitions to increase within the packaging industry over the next six months.

Key Findings:

• Expansion in the current market, new product development, and improving operational efficiency are the top three priorities for the packaging companies over the next six months.

• Cost containment and responding pricing pressure are projected to be the leading concerns for the packaging industry during June-November 2018.

• In total, 66% of respondents expect either an increase or a significant increase in capital expenditure for new product development over the next six months.

• Overall, 75% of respondents who operate in North America anticipate supplier prices will increase somewhat during the coming next six months.