Hot on the heels of the recent upgrading of its Malaysian HQ, packaging solutions provider Parkside is calling on the flexible packaging industry to follow suit and boost investment in new product development (NPD) and innovation to ensure brands can meet changing and emerging consumer trends in the APAC region.
As with other sectors, the flexible packaging industry has struggled to move forward in new product development (NPD) during the pandemic. Many businesses suffered supply chain challenges and needed to streamline their ranges to core products only. In addition, widespread furloughs have reduced the workforce numbers required to create new lines.
McKinsey reports that online sales of fresh food by a large online retailer in China grew more than 200 per cent during a ten-day period in late January 2020, during the early days of the pandemic, compared with the same period in 2019. This growth ultimately set the precedent for the next few months and resulted in increased cost pressures as packaging converters needed to keep their plants well-utilised and ensure they could keep up with growing demand and shifting consumer trends.
General Manager of Parkside Asia, Paula Birch, said: “This is a pivotal time for the flexible packaging industry across the Asia-Pacific region as consumers purchasing habits are forcing significant change. Their behaviours are shifting because of the pandemic, and this is creating new trends like safety, hygiene and a huge boost in e-commerce which require innovative packaging solutions.
“As these new consumer behaviours play out, it’s time for manufacturers to reimagine their packaging portfolios to ensure they lead the way in the next normal. The key takeaway for brands is that while new product launches may have slowed, consumer appetite for innovative products that match their new lifestyles has in fact grown. This has resulted in the emergence of these new trends and that bodes well for the industry and consumers.”
Parkside specialises in compostable, recyclable, paper-based and innovative flexible packaging solutions for the food & drink, personal & household care and tobacco sectors and has made significant investment in its Asian HQ with the installation of a 10-colour print press, three coater/laminators, three slitting lines and flexo plate making facilitates, alongside a new business development strategy to meet the changing consumer demands in the region.
Birch concluded: “It’s an exciting period for the flexible packaging sector as new product development kicks back into gear. We can only hope this energy and appetite for innovation continues because it could signal a prosperous end to 2021. What will prove crucial to the sector is how well brands meet the evolving demands of the consumer under a supply chain that is still somewhat challenged.”
To discover more about Parkside’s innovative packaging solutions, please visit parksideflex.com.