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September 14, 2020

COVID-19 pandemic affecting packaging sales

The COVID-19 pandemic has brought about a significant change in the packaging industry as demand for certain packaging types has increased, but fallen for others.

The COVID-19 pandemic has brought about a significant change in the packaging industry as demand for certain packaging types has increased, but fallen for others.

Free Whitepaper
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What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

Verdict has conducted a poll to assess the impact COVID-19 pandemic had on packaging sales.

Analysis of the poll results shows that the impact of COVID-19 on packaging sales has been negative.

Packaging sales

A majority 59% of the poll respondents voted that the pandemic has affected packaging sales, while 22% of the respondents voted that COVID-19 had a positive impact on packaging sales.

Further, 19% of the respondents opined that the pandemic had neither positive nor negative impact on packaging sales.

The analysis is based on 538 responses received from readers of Packaging Gateway, a Verdict network site, between 26 March 2020 and 09 September 2020.

Impact of COVID-19 pandemic on the packaging industry

The $900bn per year packaging industry is witnessing an increase in demand for packaging of essential items, groceries, e-commerce shipments, and healthcare products, according to McKinsey & Company. Demand for industrial, luxury and bulk transport packaging, on the other hand, is declining.

The demand for packaging of essential items and e-commerce shipments is further expected to grow as people continue to stay at home and turn to online purchases. Packaging types and designs that offer greater hygiene and safety are likely to be preferred among other types.

The packaging industry was shifting towards sustainable and zero waste trends prior to the COVID-19 pandemic. The trend, however, is likely to shift as the demand for established materials such as cardboard, plastic and glass increases. Use of reusable cups and bags has already been halted by a number of companies to avoid the risk of contamination.

The shift in demand has placed high pressure on packaging companies as they struggle to meet demand amid the restrictions imposed to contain the coronavirus. As the duration of the pandemic extends, the industry is expected be under pressure to lower prices in the long term, impacting small and medium size enterprises.

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Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

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