GlobalData's "Packaging Industry Business Outlook and Procurement Survey June-November 2018", examines executives' opinions on the business outlook and procurement activities over June-November 2018. Organizations can know about key business priorities, supplier price variations, changes in capital expenditure, and organizations' digital transformation strategies. Additionally, it provides information categorized by region and company types.
Amid increasing awareness regarding the environment and public health, growing demand for sustainable packaging, improved technology, and rising competition, packaging companies are looking forward to expanding in the current market, developing new products, and improving operational efficiency over the next six months. Moreover, companies are expected to gain significant growth opportunities from emerging markets (such as China, India, and Mexico) and developed markets (such as the US, Germany, and Canada) during June-November 2018. Additionally, 33% of respondents anticipate their companies' global procurement budget to range more than US$1 million during June-November 2018. Respondents are expecting mergers and acquisitions to increase within the packaging industry over the next six months.
Furthermore, survey reveals that Internet of Things (IoT) and APIs and digital platforms are the key emerging technologies that are expected to gain investment in the packaging industry over the next two years.
What else does this report offer?
- Key business priorities: examines the packaging companies' important priorities for June-November 2018
- Emerging and developed markets: provides information about key emerging and developed markets which are expected to offer the significant growth over the next six months
- Change in M&A activity: analyzes packaging industry executives' opinions on changes in merger and acquisition activity globally
- Business concerns: identifies major business concerns that are likely to impact manufacturers and suppliers
- Change in capital expenditure: tracks the expected change in capital expenditure both globally and regionally
- Change in procurement activities: evaluates how procurement activities will change in the packaging industry over the next six months
- Procurement budget outlook: projects procurement budget allocation along with changes in procurement expenditure over June-November 2018
- Supplier prices outlook: determines the expected change in supplier prices over June-November 2018
- Organizations' digital transformation strategies: identifies executives' perspectives towards the scope, barriers, and essentials of the digital transformation within the packaging industry
- Prevalence of emerging technology: determines the expected technology to gain investment among packaging companies over the next two years.
- Expansion in the current market, new product development, and improving operational efficiency are the top three priorities for the packaging companies over the next six months
- Cost containment and responding pricing pressure are projected to be the leading concerns for the packaging industry during June-November 2018
- In total, 66% of respondents expect either an increase or a significant increase in capital expenditure for new product development over the next six months, and 58% expect the same for machinery & equipment purchases over the same period
- Overall, 75% of respondents who operate in North America anticipate supplier prices will increase somewhat during the coming next six months
- Survey reveals that 42% of respondents identify insufficient funding, and 39% see lack of specific skills and talents, as the most critical barriers that hinder the digital transformation within the packaging industry.
Reasons to buy
- Highlights key business priorities thus helping packaging companies to realign business strategy
- Develop or adjust business expansion plans by using significant growth-offering emerging and developed markets
- Helps enterprises by providing the insights into the changes in procurement budget allocations through procurement budget projections anticipated by executives for June-November 2018
- Implement effective price management by viewing supplier price variations highlighted for the next six months
- Identify the scope, challenges, and essentials for the digital transformation within the packaging industry.