What does 2023 hold for the packaging market?
By calling on us, you will obtain scenarios fully adapted to your needs; we can calculate your ROI, and even test the proposed solutions beforehand and support your teams in change management.
Every year, new products and technologies are introduced and become essential; it is therefore important to keep an eye on these different trends and to understand them well to be able to follow them properly. Don’t be surprised: the market trends of 2023 will be in line with those of 2022… while evolving to adapt to the latest advances!
As packaging specialists, we present the five major trends that we believe will be the most significant in the coming year.
According to Simple Global, no less than 95% of all purchases will be made online by 2040! The pandemic is of course no stranger to this evolution since, according to Nielsen IQ, 67% of consumers say they have changed their way of consuming since COVID-19 and have turned more to the Web. All the more reason to optimize your packaging to adapt to these new transport channels and the potential waste they entail.
On the other hand, virtual reality seems to want to become more and more concrete with the creation of the metaverse, which could experience an average annual growth of 39.4% by 2030. This technology will inevitably impact the way we consume in the coming years, since it will be possible to make purchases in this virtual world. Shoppers’ expectations will also be higher, as they anticipate the pursuit of a different and innovative experience until they receive the package. Creative product packaging is bound to be a must!
Even companies that never thought of selling online, such as large modular game companies or certain liquid products, will have no choice but to surf the wave.
Yes, with an unemployment rate of 3.9% in April 2022, an all-time low for Quebec, it is no surprise that the trend continues this year. According to a study by Le Devoir, the government anticipates that by 2030, there will be 1.4 million unfilled positions in the province and that the lack of personnel will not spare any sector of activity. We must therefore ensure that we find solutions now to prepare for this eventuality.
If process automation is one of the solutions often considered, it should be noted that it nevertheless brings excessive pressure in terms of IT, training, change management and other needs. Fortunately, at CARTIER, we specialize in process automation and packaging optimization with a turnkey approach. By calling on us, you will obtain scenarios fully adapted to your needs; we can calculate your ROI, and even test the proposed solutions beforehand and support your teams in change management.
Eco-responsibility is a trend that has been growing for several years now. Indeed, consumers are increasingly turning to companies that are environmentally conscious and adopt “green” initiatives. Eco-responsible packaging should no longer be just a wish, but a reality. Several countries are beginning to introduce regulations, for example by banning certain single-use plastics. In Canada, these regulations will come into effect gradually until 2025.
Companies will have to adapt to meet market and consumer expectations by, among other things, adequately protecting their packages to ensure that they arrive at their destination intact. In fact, a package that is returned because of breakage and then reshipped automatically becomes much less environmentally responsible; this is why it is important to clearly identify your needs from the start.
As we know, reuse is one of the best ways to reduce your ecological footprint. In industrial packaging and shipping, it is becoming increasingly popular to offer a second or even a third life to packaging by recovering certain components. This requires serious adjustments from a logistical point of view, but the trend seems to be slowly taking hold, and it will be here to stay. At CARTIER, we are also committed to setting ourselves apart by constantly seeking out new eco-friendly products for our customers, by questioning our suppliers and by taking an interest in what is being done elsewhere in the world.
Consumers are demanding more and more transparency from companies regarding their processes, product and packaging components and social involvement. Today, people want to know exactly what they are buying so they can make informed decisions in line with their own values. Buying local, for example, is gaining in popularity, especially since it is often a more environmentally responsible option, which is why it is important to be honest about the origin and composition of your packaging. Finding local partners to supply your products will become more and more important in order to reduce your carbon footprint and, at the same time, gain points with your buyers.
According to a survey conducted by the consulting firm Label Insight, 94% of customers prefer companies that practice transparency and therefore choose the competitor when their first choice is not honest. More than ever, honesty and transparency are therefore essential in business, both towards employees and customers and towards the community.
In addition to these major trends, inflation is also being felt. With the price of many raw materials constantly rising, not to mention the cost of gasoline and transportation, companies are trying to find a balance in order to avoid passing on these increases to buyers. Their margins are therefore tightening, which inevitably leads companies to question the quantities they must keep in stock in order to avoid storing products indefinitely.
Reducing overall costs is a must when there is too much pressure on margins. It is important to understand that the price of packaging components represents 15% of overall costs, while 85% of these costs are made up of handling, transportation, storage, etc. At CARTIER, we have a 360-degree view and four areas of expertise to help you optimize your packaging and processes to reduce your costs where it really counts!
Ready to take on 2023? Our optimized packaging specialists are waiting for your call to help you stay ahead of the pack in terms of efficiency, especially in terms of environmental responsibility and automation!
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