Packaging Industry: COVID-19 Trends
To identify 5-7 additional trends from expert/objective reports around the impacts of COVID-19 on the packaging industry. These trends will include qualitative and available quantitative data/information.
1. Decrease or Increase in Demand Regarding Certain Industrial Segments
- According to the Gordon Brothers, the packaging industry, regarding the pulp and commercial industry, was expected to see a strong performance; however, the impact of Covid-19 has brought about a reduction in demand "due to a COVID-19-related recession that will likely weigh on demand over the balance of 2020 — especially in segments other than daily essentials and medicines.
- According to Market Data Forecast, Conversely, "the plastics segment has the highest demand. And a lot of producers and companies who initially used other types prefer plastic for apparent reasons, such as health care safety and affordability, have been using plastic for packing the medicines."
2. Decrease or Increase in Industrial Activity Regarding Certain Industrial Segments
- Overall, for countries where recession is expected to occur, reduced industrial activity in multiple sectors will negatively impact this industry. For some companies, "the employees are asked to stay at home during the pandemic which means that many of the packaging units are closed or the production is less compared to before."
- "Conversely, some packaging companies that were on the verge of shutting down before the outbreak of the virus are now back in the market as the demand for this sector has increased drastically."
- "The packaging sectors who pack products other than daily essentials and medicines are all shut down and are in loss, as the product requirement has almost become zero."
Summary of Early Findings
- In our preliminary research, we were able to provide two additional trends around the impact of Coronavirus on the packaging industry, as provided by expert/objective reports — all of which are qualitative.
- Other trends we could find in this regard have already been provided in the leading submission to this project.
- Generally, most available information on these trends are qualitative, with a handful of them discussing the future or likely impacts on the packaging industry.
- Lastly, this research is of a global focus. If any specific geography is required, let us know in the next section.
Proposed next steps:
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