How technology is becoming the glue to successful packaging and food container companies in 2024
As the global food packaging industry continues to reach a projected $400 billion by 2025 and health-conscious consumer trends push sustainable, recycled, organic materials, food packaging is quickly becoming just as important as the food itself.
Demand continues to shift the entire industry as our world takes a greater interest in their own health matters to lead healthier eco-friendly lifestyles. This year, 67% of consumers globally think it is important that the products they purchase come in recyclable packaging, with 54% saying it is an active consideration when shopping. These trends continue to be a focus as 83% of younger shoppers say they are willing to pay more for sustainably-packaged products. Discover the latest packaging trends, critical challenges, and how technology is changing the industry to reach customers better, faster, and reduce waste at the same time.
Plastic has played a significant role during Covid-19 to protect the globe but has generated an additional 1.6 million tons of plastic waste per day with sanitizers, masks, and protective equipment in the past year alone. This substantial waste increase has created a movement in innovative companies to create new products and focus on reusable non-plastic packaging to make a difference.
More than half of the US consumers are taking a greater interest in their own health matters, leading healthier lifestyles, and are concerned about the packaging surrounding their orders. 2022 has heightened consumer sensitivity to hygienic and safe food packaging that relays strong preferences for packaging materials.
5 popular trends in food packaging
1. Sustainable Packaging:
What is Sustainable packaging? Sustainable packaging is the creation and use of products that increase sustainability, packaging that can be reused, and a design that can reduce the environmental impact and waste footprint. According to National Geographic, 40% of the plastic that is produced is packaging used just once and then discarded. Sustainable packaging is focused on recyclability, elimination of toxic materials, post-consumer recycled content, improving volume efficiency, and increasing renewable materials.
2. Smart Packaging:
What is Smart Packaging? Smart packaging refers to systems used with food, pharma that helps to extend shelf life, freshness, improve safety, freshness and increase convenience.
3. Increased Portability:
Why is increased portability popular today? On the go lifestyles demand options that provide convenience and portability to time-starved, health-conscious consumers with portion control and food waste top of mind.
4. Technology-Enabled Solutions:
How can technology be integrated into packaging? Technology allows consumers and logistics departments accurate product information with QR codes, NFC chips, and smart labels that help to relay information about the product. Technology-enabled solutions also help to track quality, compliance, and monitor health standards for a better end product.
5. Flexible Packing – Packaging Products Using Non-Rigid Materials:
Flexible packaging is growing in popularity due to the convenience of being able to store, easily open, and its ability to reseal. Companies are moving to flexible packaging as it helps their product stand out and allows their products to ship more easily, display better on their shelves, and last longer.
Why is this Industry Relevant Today
- Covid escalated the growing demand for packaged food products to be cost-effectively packaged with containers that assist in preserving the food, providing a longer shelf life, and reducing waste.
- Today’s trends are imposing new demands on packaging as on-the-go consumers look for ways to save time with quick meals that are ready-to-eat, easy-to-open, microwave-safe, individually packaged, or can quickly be resealed.
- A growing interest in eco-friendly packaging is pushing the market away from styrofoam, and single-use plastics due to consumer awareness of sustainability and environmental issues. Fast-growing Businesses in 2024 are focusing on recyclable, compostable, and biodegradable packaging including bamboo food containers, paper/reusable straws.
- Plastic will continue to play a substantial role 46% of packaging because it's durable and inexpensive.
- Containers for nutrition supplements and essential oils are trendy now. Health and wellness are becoming a widespread interest among Millennials and Gen Z.
New tools are helping businesses turn their goals not only into action but into reality.
Advances in technology are becoming a part of our everyday lives. From QR codes, NFC chips, and smart labels, consumers quickly have the ability to learn more about what they are buying. In the same way, cloud ERP technology is streamlining the way that successful businesses are running and providing them with more visibility, accuracy, and efficiency than ever before.
To adapt to this highly competitive market, organizations must be able to respond to changes, trends, and customer expectations quickly to stay ahead of close competitors. Is your company operating on disparate applications fueled by manual work to gain an edge in a highly competitive market? NetSuite has the industry expertise you need for out-of-the-box success.
What is an ERP system used for? ERP software integrates all functions and departments into a single system to streamline information, synchronize reporting, and provide automation across the entire organization. It also enhances day-to-day business activities such as compliance, accounting, supply chain, procurement, manufacturing, project management and helps to plan, predict, budget, and report important financial results. ERP enables real-time business information to flow through many different business processes and provides a single version of the truth.
ERP software helps business owners highlight business process improvements, analyze scenarios, unify processes, gain better visibility of employee productivity, and streamline technology throughout the business.
6 ways ERP software can solve business complexities in 2024
1. Visibility and Flexibility: Access business data from anywhere, any time, on any device with a browser. Cloud ERP is a multi-tenant, modern, cloud-based application that grows and changes with your business.Learn More About The #1 Cloud ERP on the Market
Whatever challenges your packaging business brings to the table, an integrated ERP software solution can help you launch your business into growth like never before. NetSuite ERP brings all aspects of your business into a single platform that grows and changes with your business. Learn more about our top solution for container companies and how we can help your business gain the efficiency and performance you need to stand out on the shelves.
ERP gives a global, real-time view of data, reporting, BI, and top-notch visibility across the business. With an ERP system in place, accurate information helps businesses make informed decisions, lower costs and enhance customer service.
Challenges Protelo and NetSuite can help with:
- Experience in International Organization for Standardization (ISO) in NetSuite.
- Food and Drug Administration (FDA) compliance in NetSuite.
- Experience in Lot numbering and Serialization customization.
- Addressing challenges due to lack of visibility into inventory, the shop floor, and receiving raw materials.
- Addressing challenges with consolidating supply chain between the US and APAC through OneWorld, multi-subsidiary management, etc.
- Gaining competitive advantage with NetSuite CRM and Vendor/partner/customer center.
- Complex BOMs to manufacture different sizes, shapes, and formats of containers and introduce new container types quickly to pivot with the market demand.
- Quality Management from receiving the raw materials, to the shop floor, through distribution. Food containment cannot be of low quality because of the potential for spills or contamination.
- Inbound shipping management for receiving from APAC or overseas.
- Improved and optimized production planning using demand planning and forecasting within NetSuite— helping to eliminate overstocks, stockouts, and backorders.
Why work with a partner to learn more about NetSuite?
Learn what sets Protelo’s NetSuite team apart! Take advantage of our flexible service offerings, and benefit from an in-depth knowledge of business applications that can ensure you get the solution, licenses, services, the best pricing, and support that’s right for you.
For more information about NetSuite, a Free Product Tour, or NetSuite custom pricing, contact Protelo today! Our highly skilled NetSuite team at Protelo understands your business challenges and the solutions you need to succeed.
Protelo provides Packaging and Food Container companies with a single source of expertise to implement, customize, integrate, and refine your back-end operations. Have Questions? Would you like a free trial or a demo? To learn more contact our team of NetSuite experts today! We are here for you.
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