The challenges in the packaging industry usually revolve around – durability, sustainability, cost, and design.
The packaging industry is one of the most rapidly evolving industries. This is mainly because it is increasingly being fueled by the relentless growth of the global population. Also, over the years, the functions of packaging have evolved considerably beyond just containing and protecting the product. As a result, players in the packaging industry are bombarded with challenges pertaining to their ability to maintain the aesthetics of the package, comply with industry standards, and ability to minimize carbon footprint.
The Business Challenge
- The Client: A secondary packaging company
To validate the opportunity for bringing a series of new proposals to the secondary packaging market, the client – a secondary packaging company – approached Infiniti to help them conduct a detailed market research.
The client wanted to gain comprehensive insights into the market landscape to streamline their suite of brands, most of which were atrophied and no longer in use. Also, with the help of the market research, the secondary packaging client wanted to gauge various factors affecting market growth.
How Can Market Research Help Players in the Packaging Industry?
“Market research deals with the objective collection and analyzation of industry-specific data in order to offer detailed insights into the market opportunities, competition, and other similar factors which help companies to better understand the market landscape.”
In today’s competitive business scenario, players in the packaging industry need to improvise their strategies and business plans to stay relevant in a rapidly evolving marketplace. Infiniti’s market research solutions help packaging firms gain a detailed understanding of the industry barriers, challenges, and opportunities to devise precise business plans.
Summary of Our Market Research Engagement
Client’s Journey
With the help of Infiniti’s market research solutions, the secondary packaging client was able to precisely gauge the various factors affecting their brands’ perception. The solutions offered also helped the client to ensure that their brand offers a 360-degree appeal.
Furthermore, to help the client augment brand visibility and gauge factors affecting the brand perception, the market research experts at Infiniti conducted a detailed market study to help them gain a better understanding of the packaging industry trends. The approach included primary and secondary research methodologies coupled with qualitative and quantitative data collection procedures. The experts also reached out to various stakeholders in the secondary packaging market.
Solution Benefits and the Business Impact
Infiniti’s market research experts offered detailed market insights that helped the secondary packaging client to streamline their business processes and identify the factors hindering growth. The market research solutions also enabled them to introduce a breakthrough innovation in the manufacturing processes employed in the secondary packaging segment. This, in turn, augmented their brand value by improving profit margins.
The Future
The packaging industry has witnessed many challenges and transformations, and packaging can no longer be regarded as a discrete function. Therefore, the impact of packaging decisions on the entire value chain needs to be addressed. This is compelling players in the secondary packaging space to explore synergistic options in the market to enhance market value and brand image.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the packaging industry.
