Nosco is committed to helping its customers navigate the current and future impact of COVID-19 on printed packaging. Continue to follow this blog series as we navigate relevant topics in the space during this time of crisis.
This blog features insights from Nosco’s President, Craig Curran.
The past few months have been a time of uncertainty for many. Day-by-day we are faced with new facts, circumstances and guidelines to abide by. For these reasons, Nosco continues to closely monitor the status of the Coronavirus pandemic to better understand where we’re at and how packaging will play a role during this global crisis.
When the Coronavirus pandemic was first declared back in March, packaging jumped roughly 50% on the strength of additional grocery needs. Since that initial surge, packaging has leveled out at a 15% increase over normal requirements. In addition to this, we have seen an upward trend in dining in at home. As such, for every $10 not spent at a restaurant, $3 is spent at the grocery store. This, in turn, has increased packaging spend by .15 – .30.
By the Market
During this global health crisis, the production of healthcare-related products has unquestionably increased. In the pharmaceutical and natural health markets alone, we have seen a packaging increase of circa 20% since the outbreak of COVID-19. This increase includes packaging for testing supplies, various drugs and treatments, face masks, sanitizers and more.
On the other hand, market areas like cosmetics, fragrances and durable goods have declined.
Looking to the Future
The future of printed packaging requirements in a broad sense, post-COVID-19, are unknown. Will we enter a recession? Will the supply chain be full? We can only hope for the best.
On our end of things, we believe that the pharmaceutical and natural health markets will remain strong to support COVID-19 testing, vaccines and an overall personal health focus. Areas in natural health like vitamins, minerals and immune support are expected to flourish.
How We Can Help
In short, packaging’s role in crisis is to hold it all together, and Nosco is here to support you through it all. Last year, Nosco added flexible packaging to its product mix. This was done to give us a strong footing for the future with four core product offerings.
Packaging’s role in crisis is no different. We are here to offer you a strong footing to support the future of your business. From the Nosco COVID-19 Rapid Response Program to our Time Matters promise, we are here to support your printed packaging needs today and in the future.
