Close to half (48%) of packaging companies in the food and beverage sector are focusing on future-proofing their operations, new research from Industrial Physics has revealed.
Future-proofing will help companies meet challenges and cater to the changing market conditions.
The report, titled Unwrapping the External Environment examines three key areas: supply chain challenges, consumer reactions, and investment in future-proofing.
Steve Davis, global director of product management at Industrial Physics, commented, “There's more instability on the planet than there's been for years, and that drives people to make sure that they’ve got what they need to continue meeting demand, and do what they can to forecast.”
Findings
Over half (53%) of companies faced difficulty in sourcing materials, particularly for those working with paper packaging (58%), data showed.
Experts attributed these problems to various factors, including paper’s resurgence in popularity due to its sustainable credentials, and the lack of an established circular economy for paper packaging.
The study noted that challenges in sourcing materials have driven innovation in some cases.
For example, some companies introduced data analytics to better predict how much they need and how to ensure materials are used as efficiently as possible.
Rodger Segelstrom, global product line director at Industrial Physics, commented, “External factors such as material availability; inflation; delays in the wider supply chain; and changing consumer expectations are all shaping how companies are developing their strategies.”
Fifty-six percent of respondents opined that their strategies are being reshaped in line with consumer reactions, particularly in the UK and the USA.
Packaging Innovations
Companies have conducted consumer research to learn about innovations in packaging, according to the report.
While consumer goals are evident in recent innovations, they sometimes don’t quite hit the mark.
An example is a pulp bottle that is coated with a lacquer inside, which prevents its endless recyclability.
Davis added, “One of the common examples of future-proofing that we see in food and beverage packaging at the moment is the introduction of more automation in the production and testing processes, to reduce the level of errors, and collect more data which can help with planning and continuous improvement without reliance on significant investment.”
The study also revealed that only a quarter of respondents believe their company is currently innovating, with only 41% planning to do so.
Segelstrom added, “Across the globe, companies are taking new approaches to reduce waste, bridge skills gaps, get more accurate testing results and increase cost-effectiveness, each demonstrating an innovative approach even if there is no tangible change to the packaging produced.”
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