This year, the packaging industry in the European Union will be largely dependent on processes related to sustainable development and environmental protection. Manufacturers will focus on innovative, ecological materials, and brands will have to adapt to increasing consumer expectations. Despite prospects of commodity price stabilization, inflation, increased labor costs, and fears of a recession in Germany may affect production costs. The Polish packaging market, on the other hand, can benefit from economic revival, rebound in consumption, but will also have to contend with wage growth – notes Grzegorz Łajca, CEO of Akomex Group.
In the coming year, the European Union will continue to exert pressure on issues of sustainable development and environmental protection, with particular emphasis on reducing the consumption of plastic packaging that is not recycled. This action is likely to lead to an increase in promoting alternative, more environmentally friendly packaging materials, including paper, cardboard, and recycled PET. Increased demand for environmentally friendly monomaterial packaging will allow packaging manufacturers to promote the ecological protective barriers of cardboard, which are suitable for recycling and composting.
2024 marks the time for adaptation and innovation
For packaging, it is time for adaptation and introducing innovations. It is worth noting that consumers can expect more thoughtful, ecological, engaging, and dynamic packaging solutions. The intersection of technological advancement and increasing consumer demand will continue to shape the direction of industry development in 2024. This development will be a key element in the transformation of the sector towards more sustainable and ecological practices.
In the perspective of the coming year, despite signs of possible material price stabilization, the packaging industry might still be affected by other factors influencing production costs. Inflation and an increase in labor costs are key elements that can affect packaging prices.
It is worth noting that overall impressions in the industry indicate difficulties in recruitment and retention of qualified employees, which might further translate into challenges and increasing costs.
The threat of recession in Germany and potential growth in the Polish packaging market
Another factor affecting the packaging producers’ market is the fear of a recession in Germany, the main export market for Polish packaging. This situation may pose a challenge for local producers who depend on the stability of the German market. On the other hand, moderate economic recovery is forecasted in the eurozone, supported by falling inflation. The improvement in the financial situation of households may stimulate consumption growth.
In the context of Poland, forecasts indicate potential growth in the packaging market. Higher economic growth dynamics are expected to be driven primarily by increasing consumption and wage dynamics growth in many sectors. The Polish packaging market may become more attractive, and companies in the industry should focus on adapting to changing market conditions and increasing consumer expectations concerning sustainable packaging solutions.
