As product demand in the Canada retail packaging market evolves the dynamics between different packaging types also evolves - favouring some packaging types and formats and leaving others increasingly out of line with demand patterns.
As a result, understanding the shifting market dynamics is key to ensuring maximum sales in the future.
The differential growth across different packaging materials and formats drive fundamental shifts in the market. These differentials result from various factors such as changing consumer preferences, regulatory compliance, and innovation within the packaging market.
Canada's rising aging population and shrinking household size are driving the demand for smaller pack formats. The increasing immigrant population is creating a niche market segment for products of foreign origin, increasing the importance of packaging and labelling.
Canadians are increasingly shopping online in an effort to make a purchase that is best suited to them. The rise in smartphone penetration has further driven the growth of online retailing in Canada, which will drive demand for secondary packaging.
With rising consumer awareness, product sustainability has become a major concern for manufacturers, driving innovation in the Canadian packaging industry. For instance, Coca-Cola has launched an eco-friendly sugarcane-based PET bottle.
Manufacturers in all areas of packaging (glass, plastic, paper and metal) are positioned as being environmentally progressive and contributing to a decline in wasteful activities - recognising that environmental concerns are not only a driver for consumer demand, but also the fact that these issues are also a step towards lower sourcing costs - virgin raw materials are usually more costly than recycled ones.
Associations for both the paper and plastic industries have released reports stating that recycling rates are increasing, but that there is still room for growth.
For more information on the Canadian retail packaging market, see the latest research: Canadian Retail Packaging Market
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.