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Growth of film market after COVID-19 outbreak

Growth of film market after COVID-19 outbreak
Date :3/13/2022 / Visit Count : 803

The COVID-19 induced lockdown restrictions led to a complete halt in manufacturing activities such as in the luxury and industrial applications, including textile and cosmetics, among others, during the initial period of the pandemic. For instance, industrial bulk transportation was reduced at the onset of the pandemic, as the reduced consumer demand for cosmetics and textile led to the decreased demand for packaging facilities. In addition, the declining demand for non-food premium goods such as i clothing, and others, also fell with the reduced purchasing power in early 2020 due to the ongoing COVID-19 induced lockdowns, which resulted in increased rates of unemployment across the globe. Furthermore, the reduced availability of labour during the lockdowns also led to declining manufacturing activities, which negatively impacted the market demand in 2020. However, the market growth enhanced with the heightened demand for CPP film packaging in the food and beverage and pharmaceutical industry.

As the surge of the COVID-19 pandemic skyrocketed hygiene concerns, the demand for packaged goods skyrocketed. Various concerns regarding nationwide lockdowns and stay-at-home orders led to panic buying of packaged products, especially in the FMCG sector. This, in turn, increased the demand for flexible packaging. Although the distribution channels witnessed supply disruptions due to border closures and temporary halt of manufacturing activities, companies surged their reliance on digital channels to enhance consumer engagement. For instance, Nestle S.A. reported that its sale through online channels grew by 48.9% in the first half of 2020. 



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