The COVID-19 pandemic is pushing the world economy towards a recession. Like other industries, the US packaging industry is at a standstill with government-mandated lockdowns. While there is a spike in demand for packaging for groceries and healthcare devices, demand for luxury goods and industrial packaging is declining. As such, companies in the US packaging industry must take action to flatten the expected recession and prepare for the post-COVID-19 era. Infiniti's recent client engagement highlights how they helped a packaging company based out of the United States to rethink their operational plans, adopt strategic customer-focused moves, and plan for the rebound post the COVID-19 crisis.
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Responding to the Declining Demand in the US Packaging Industry. (Graphic: Business Wire)
Engagement Overview:
The client, a consumer packaging firm in the United States, witnessed a steady decline in packaging demand owing to the COVID-19 crisis. Also, the US packaging industry client noted a drastic shift in packaging demand in food companies as the COVID-19 pandemic compelled the food service companies to shut down food service outlets. Also, the demand for non-food and premium-good packaging was impacted as consumers started to cut back on their spending. As the period of crisis was uncertain, the client wanted to take initiatives to navigate the COVID-19 pandemic and prepare for the rebound. This requires a thorough understanding of the potential business opportunities and COVID-19's impact on the company's business operation. The US packaging industry client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering market opportunity analysis.
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Solutions offered to the client:
Infiniti Research offered the client a comprehensive market opportunity assessment to map the client's potential opportunity from an R&D, market, and competitive perspective. The next phase involved an in-depth analysis of qualified prospects to deduce the optimal set of opportunities that are best suited for the client's strategic imperative. Also, a competitive landscape analysis was undertaken to provide the client with insights into the addressable market analysis of each selected best-fit opportunity in terms of market attractiveness, competitive factors, and end-user preferences.
Business Impact
With Infiniti's market opportunity assessment, the US packaging industry client was able to:
- Create a crisis-response nerve center that served as its core information and decision-making source.
- Make necessary shifts in its portfolio of packaging offerings.
- Identify packaging categories that are likely to return to strong levels of demand post-COVID-19 crisis
- Identify growth potential, and manage new trends in consumer sentiment and requirements, such as safety, health concerns, and e-commerce
- Rethink and redesign their business portfolios to ensure stable cash flows and healthy balance sheets
For an in-depth market analysis on how COVID-19 will impact the US packaging market and data-driven insights to plan your next moves. RFP here.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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Contacts:
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
