Overview
The existing economic environment is stable for the packaging industry, and customer confidence level will remain positive during H1 2018 (March 2018-August 2018). Survey results reveal that executives who operate in North America and Asia indicate a favorable opinion about economic prospects in the region for over the next six months. Increasing significance of e-commerce, growing awareness for food safety and preservation, innovation in machinery and equipment, along with changing lifestyles in developing economies are factors that influence the packaging market during H1 2018.
Globally, 79% of executives are optimistic about the industry’s and company’s growth prospects. Furthermore, the packaging industry foresees a rise of 3.8% in the price of raw materials over the next six months. Additionally, cost concern and skill shortages are the critical challenges for the companies with business operation in Europe and North America.
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Major Companies mentioned
WestRock Company
Tetra Pak
Smurtfit Kappa Group
KapStone Paper Mill
Klöckner Pentaplast Group (kp Pharma)
Nestlé
Packaging Industry Major Outlook
– In total, 45% of survey respondents state that the current economic environment is stable, whereas 44% of respondents indicate a favorable or very favorable economic climate
– Executives with business operations in North America and Europe report the highest level of the positive outlook towards company’s growth over the next six months
– The majority of the global respondents anticipate a positive or very positive change in consumer confidence, whereas, 34% of the executives expect no change in customer confidence during H1 2018
– Capital expenditure on new product development and research and analysis is projected to increase during the next six months
– The highest percentage of executives with the operation in Europe and Asia-Pacific region highlighted improving operational efficiency as the key priority during H1 2018.
Packaging Industry – Competitive Analysis
Key players are making innovative developments in Packaging Industry. The same will help in improving the market performance. Heavy investments are made by major players in the R&D sector
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