In the supply chain world, the packaging is one of the few spots that doesn’t seem to be overwhelmingly impacted by the COVID-19 coronavirus, though there is still some cause for caution. Overall, the packaging market is projected to reach $1.01 trillion by 2021, partially because of a surge in ecommerce sales.
Drilling down to smaller segments and subsets shows a more uneven outlook as some manufacturers may face growing challenges. For instance, companies that provide packaging for entertainment venues like concert halls and movie theaters are seeing a significant decrease in orders.
Companies have primarily been able to address the initial COVID-19 impacts. They are managing their return to more consistent levels, but leadership in the space will require a focus on shaping what comes next, instead of reacting to it.