Across the board, 2013 was a great year for the global packaging industry. According to the latest numbers, the market brought in a staggering $709 billion in 2013, and it is expected to be worth close to a trillion dollars by 2018.
Of course, to get consumers come back and buy packaged goods, the industry must find a way to stay fresh and up-to-date. So, what new ideas and trends are driving this ever-growing industry? There are quite a few, but five standout to us.
Going “green” is a popular trend in almost every aspect of modern life. In the packaging industry, it is all about sustainability. The sustainable packaging market will be worth close to $244 billion by 2018, according to a new study from Smithers Pira. This includes reducing size and weight, while increasing recycled content.
Millennials Love Packaging
It turns out that 18-34 year-olds are more influenced by high-end packaging than other generations. In fact, a study shows that Millennials are less brand conscious and more attached to the experience.
More companies and manufacturers are moving from rigid to flexible packaging. The market should grow 3.5 percent annually over the next five years, hitting $231 billion by 2018.
Everything is getting smaller, so it is no shock that packaging is also heading in that direction. Nano packaging brought in $20 billion in 2013 and should grow leaps and bounds as it becomes more feasible and affordable. Nano packaging is not only better for the environment but also protects products from spoilage and tampering.
Design is always important, but it seems that it has become more critical than ever. While amazing fonts, rebranding, and “hipness” don’t keep products safer, the do drive sales, especially with the aforementioned Millennials.
These are just a few of the important packaging trends for 2014 and beyond, but we think they the ones you need to keep an eye on!