Global packaging printing market faces five major challenges
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The packaging industry plays an important role in the entire printing industry. In an increasingly digital world, packaging and printing companies have sufficient and stable growth opportunities. Although the packaging industry maintains a good momentum of development, packaging printers have some new challenges in assessing their business operations. Recently, the US authoritative printing magazine "Packaging Printing" released a new research report "Research and reduce the enormous challenges of the packaging printing market." The sample of the report comes from a survey conducted by the Packaging and Printing magazine and the NAPCO Research Institute on more than 150 printing and packaging companies in January and February of this year. The report describes and analyzes the challenges faced by the packaging industry in detail. The report pointed out that the current challenges faced by the global packaging and printing market are divided into five aspects: sales and profit growth are not proportional, labor shortages, digital printing trends are coming, companies are facing expansion, and the whole industry is facing consolidation.
Although each area of the packaging and printing industry has its own unique process and therefore faces different challenges, according to the research, there are some common points among all market segments because problems such as customization have affected the entire industry. Packaging industry. Although the results of this study are not evenly distributed across the various packaging segments, the number of company samples in each field is sufficient. And the survey results show that packaging printers are moving between these market segments, obscuring the well-defined market segments.
Challenge 1 Increased Sales Increased Profits
The common challenge for all companies is the increase in sales. It is surprising that the increase in sales is a challenge. The reason for this is because sales have increased and profits have decreased. One-third of the companies interviewed said that this is the business challenge that will have the greatest impact on the company in 2018. The increase in sales is the most concerned issue for the respondent companies, and the challenge is not the same in all companies. When asked to elaborate on the specific challenges in printing, production or operational efficiency, more than half of the representatives of the respondents stated that keeping up with the speed of operation and expansion of the industry is one of the major challenges they face. Over the years, as brands have continued to expand their product lines, a trend to “manufacture more products in lower quantities” has emerged in the field of packaging and printing. The number of products on the shelves remains the same, but the variety of products is more.
According to the results of the report, various brand companies are expanding their product lines and demanding shorter packaging printing times. However, due to the frequent updating of the printing press, the packaging printer's production speed is reduced. At the same time, representatives of other companies interviewed said that reducing the scale of operations can give them additional capacity to fill sales. A person in charge of the interviewed company also said: “In terms of sales, the quantity is not necessarily a problem, and profitability is the key.” Many representatives of the interviewed companies stated that price competition is their most concern. As a person in charge of the interviewed company said: "Sales increased, but because of brand pressure, profits did not keep up."
Challenge 2 Labor shortages
In the entire manufacturing world, the shortage of labor has always worried businesses. Experienced technical staff face retirement, and young employees are looking for other forms of employment opportunities. The packaging and printing industry has not been spared this trend. In addition to technical issues and changes in the consumer environment, one of the most shocking business challenges faced by packaging printers is taking shape, namely the shortage of labor.
The existing workforce is reaching the end of their career, and companies are trying to find new people to take over their work. According to the survey results, 28% of the companies surveyed listed the first challenge as attracting, recruiting and hiring new production employees. Similarly, 25% of the representatives of the surveyed companies stated that the aging or retirement of the industry’s employees is their primary challenge. In the report's analysis of the challenges, the labor shortage ranks behind only the sales and production challenges. This shows a new trend, indicating that it may soon become a bigger dilemma for the industry.