Packaging industry growth
Recently, some members of the Stag Print marketing team visited the London ExCel for the 2023 London Packaging Week exhibition.
It was a worthwhile day out with much to see. The event focused on four key areas: food and consumer packaging; premium drinks packaging; cosmetics packaging; and luxury packaging. Representing the diversity of the sector and the fact it has experienced impressive growth.
On the up
The UK packaging industry has expanded due to increased manufacturing activities in the country and therefore demand for packaging and labelling solutions. According to the UK Packaging Federation, the sector sees annual sales of around £14 billion and employs some 80,000 people, making it a major contributor to the country’s GDP and a vital link in the supply chain.
More sustainable
Here at Stag Print, we have witnessed firsthand this demand and also seen an accelerated market for eco-friendly packaging. Many of our newer customers are looking for boxes that are recyclable. From Bare Bar soaps, to the Colour Emporium candles.
This is great news and is very often led by consumer choices. If the customer is drawn to more sustainable products, the manufacturer is too. According to a TwoSides report, 55% of consumers would be willing to pay more for products that use sustainable packaging. And when big companies like Amazon, Coca-Cola and McDonald’s move away from single-use plastics that impact is really felt.
The future
So, what does this mean for the future of the industry? Experts predict it can only get better. Mordor Intelligence reports that the market is set to grow at a compound annual growth rate of 2.3% over the next 5 years.
In a global business world experiencing unprecedented challenging times, this is a welcome breath of fresh air. While any industry growth is good, when accompanied by improvements in sustainability, it’s exciting and encouraging.