Brands that sell similar products compete for the same consumer’s money on the shelf (or webpage). Your packaging could make or break that consumer’s decision to buy your product or your competitors at the point of purchase.
Millennials prefer eating out, ordering in, and snacking. They also want their food in convenient sustainable packaging.
Millennials are shifting the food market from home cooking to convenient snacking, prepared meals, carry-out, and delivery. Moreover, millennials want to eat food from establishments and brands that keep sustainability in mind. A combination of convenience-oriented eating and sustainability demands puts packaging in the spotlight.
Sustainability, technology, and classic design headline packaging trends in 2020
As consumer habits, needs and demands evolve and develop, the packaging industry must innovate and stay up to date with new trends in packaging. According to a report by McKinsey & Company, as of 2019 the packaging industry creates $900 billion in annual revenues throughout the world. The report also states the industry is projected to grow at a rate of 3.1% each year through 2022.