The packaging industry is more optimistic about revenue growth over the next 12 months than for the previous year. This is despite a volatile oil market increasing raw material prices and pricing pressures. Flexible packaging is expected to be one of the fastest growing packaging sectors, driven by industry consolidation and sustainability initiatives.
London – 13 July 2011 - Asia-Pacific will be a significant market during 2011–2012, with the top growth regions in the packaging industry including Singapore, China, South Korea and India. Buyers consider price reductions and product innovation to be the leading actions for suppliers to secure business from buyers. Meanwhile, the ability to target specific audience niches, flexibility and the ability to generate leads are considered by packaging suppliers to be the most critical success factors. Suppliers can also invest in R&D and develop unique IT solutions to enable buyers to optimize their processes and reduce costs.
Optimism for revenue growth in the packaging industry
Over half of all respondents across the packaging industry are more optimistic about revenue growth for their company over the next 12 months than for the previous year. Reasons behind this trend include strong growth in emerging markets such as India and China, decreased global economic uncertainty, a rise in sales innovation and increasing production and process efficiency. Flexible packaging is expected to be one of the fastest growing packaging sectors, driven by industry consolidation and sustainability initiatives. In addition, technological developments such as improved recycling techniques and the development of compostable packaging materials have helped to increase the profitability expectations of industry respondents.
Volatile oil market of concern
Raw material prices, pricing pressures and cost containment are the most pressing immediate business concerns for the global packaging industry. This is largely due to recent volatility in the oil market, which has pushed up operating costs. Companies are therefore taking various measures to contain costs, including investment in sophisticated technologies such as robotics to increase efficiency.
Asia-Pacific a key region
The top growth regions in the packaging industry include Singapore, China, South Korea and India. Increased domestic and regional consumption, driven by strong economic growth, in the Asia-Pacific region has increased the demand for packaging in countries such as Singapore,
while buyers and suppliers consider India and China to be the two most important markets for potential growth.
Targeting specific markets key to supplier success
The ability to target specific audience niches, flexibility and the ability to generate leads are considered by packaging suppliers to be the most critical success factors. At present, most companies prefer to focus their marketing strategy on a narrow target market of prospective customers instead of the total market. Similarly, flexibility in customizing services is identified as the most crucial factor for business continuity. Therefore, companies are trying to bring more flexibility, scalability, extensibility and integration across the distribution channels. This encourages collaborative relationships with partners. Many companies have realized that customizing the sales process ensures conformity with customer buying processes. Companies therefore look for value-adding products and services to attract customer attention.
Buyers expect low prices and innovative products
Buyers consider price reductions and product innovation to be the leading actions for suppliers to secure business from buyers, as expressed by half of respondents. Improving customer service and the reduction of costs are also given high importance by buyers, with 45% of respondents giving a positive response to each factor. Suppliers can also invest in R&D and develop unique IT solutions to enable buyers to optimize their processes and reduce costs. One such example is the development of a cost optimization packaging system (COPS) by Singapore Institute of Standards and Industrial Research (SISIR's) packaging center, which will help buyer companies minimize their distribution costs by optimizing the use of space and packaging materials and rationalizing logistical costs.
To purchase the full version of the report, ‘Global Packaging Supplier Industry Outlook Survey 2011–2012: Industry Dynamics, Market Trends and Opportunities, Marketing Spend and Sales Strategies’, please click here.
About Industry Review:
Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.
We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.
The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.
With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.
For more information, please visit our website at www.industryreview.com
For more information on the article, please contact:
Press Contact:
Shelly Wills
Tel: +44 (0) 20 7936 6671
shelly.wills@industryreview.com
London – 13 July 2011 - Asia-Pacific will be a significant market during 2011–2012, with the top growth regions in the packaging industry including Singapore, China, South Korea and India. Buyers consider price reductions and product innovation to be the leading actions for suppliers to secure business from buyers. Meanwhile, the ability to target specific audience niches, flexibility and the ability to generate leads are considered by packaging suppliers to be the most critical success factors. Suppliers can also invest in R&D and develop unique IT solutions to enable buyers to optimize their processes and reduce costs.
Optimism for revenue growth in the packaging industry
Over half of all respondents across the packaging industry are more optimistic about revenue growth for their company over the next 12 months than for the previous year. Reasons behind this trend include strong growth in emerging markets such as India and China, decreased global economic uncertainty, a rise in sales innovation and increasing production and process efficiency. Flexible packaging is expected to be one of the fastest growing packaging sectors, driven by industry consolidation and sustainability initiatives. In addition, technological developments such as improved recycling techniques and the development of compostable packaging materials have helped to increase the profitability expectations of industry respondents.
Volatile oil market of concern
Raw material prices, pricing pressures and cost containment are the most pressing immediate business concerns for the global packaging industry. This is largely due to recent volatility in the oil market, which has pushed up operating costs. Companies are therefore taking various measures to contain costs, including investment in sophisticated technologies such as robotics to increase efficiency.
Asia-Pacific a key region
The top growth regions in the packaging industry include Singapore, China, South Korea and India. Increased domestic and regional consumption, driven by strong economic growth, in the Asia-Pacific region has increased the demand for packaging in countries such as Singapore,
while buyers and suppliers consider India and China to be the two most important markets for potential growth.
Targeting specific markets key to supplier success
The ability to target specific audience niches, flexibility and the ability to generate leads are considered by packaging suppliers to be the most critical success factors. At present, most companies prefer to focus their marketing strategy on a narrow target market of prospective customers instead of the total market. Similarly, flexibility in customizing services is identified as the most crucial factor for business continuity. Therefore, companies are trying to bring more flexibility, scalability, extensibility and integration across the distribution channels. This encourages collaborative relationships with partners. Many companies have realized that customizing the sales process ensures conformity with customer buying processes. Companies therefore look for value-adding products and services to attract customer attention.
Buyers expect low prices and innovative products
Buyers consider price reductions and product innovation to be the leading actions for suppliers to secure business from buyers, as expressed by half of respondents. Improving customer service and the reduction of costs are also given high importance by buyers, with 45% of respondents giving a positive response to each factor. Suppliers can also invest in R&D and develop unique IT solutions to enable buyers to optimize their processes and reduce costs. One such example is the development of a cost optimization packaging system (COPS) by Singapore Institute of Standards and Industrial Research (SISIR's) packaging center, which will help buyer companies minimize their distribution costs by optimizing the use of space and packaging materials and rationalizing logistical costs.
To purchase the full version of the report, ‘Global Packaging Supplier Industry Outlook Survey 2011–2012: Industry Dynamics, Market Trends and Opportunities, Marketing Spend and Sales Strategies’, please click here.
About Industry Review:
Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.
We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.
The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.
With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.
For more information, please visit our website at www.industryreview.com
For more information on the article, please contact:
Press Contact:
Shelly Wills
Tel: +44 (0) 20 7936 6671
shelly.wills@industryreview.com
Most of big Indian Industries setting up their plants worldwide. This is a sign of Industrial Globalization. I know about a great company 100salts. They are the suppliers of
ReplyDeleteVirgin Polymers and Polypropylene Copolymer.