Packaging Industry in 2024: Environmental protection, innovation, and wage pressure influence market dynamics

24 January 2024

This year, the packaging industry in the European Union will depend largely on sustainable development and environmental protection processes. Manufacturers will focus on innovative and eco-friendly materials. Brands must adapt to meet growing consumer expectations. Although raw material prices are expected to stabilise, inflation, rising labour costs, and fears of a recession in Germany may impact production costs. The Polish packaging market may benefit from an economic recovery and a rebound in consumption. However, it will also struggle with rising wages, according to Grzegorz Łajca, CEO of Akomex Group.

In the coming year, the European Union will continue to push sustainability and environmental issues, with a particular focus on reducing the use of non-recycled plastic packaging. This action may lead to an increase in the promotion of alternative, environmentally friendly packaging materials such as paper, cardboard, and recycled PET. The rise in demand for eco-friendly mono-material packaging will enable packaging manufacturers to promote recyclable and compostable cardboard protective barriers.

2024 is a time for adaptation and innovation

For packaging, it is time to adapt and innovate. Consumers can expect packaging solutions that are more thoughtful, eco-friendly, engaging, and dynamic. A combination of technological advances and growing consumer demand is forecast to continue to shape the direction of the industry in 2024.. This development will be a key part of the sector’s transformation towards more sustainable and greener practices.

Looking ahead to the coming year, there are signs of possible stabilisation of material prices. However, the packaging industry may still be affected by other factors that impact production costs. Inflation and increases in labour costs are key elements that can affect packaging prices.

It is important to note that the industry is facing challenges in recruiting and retaining skilled employees. These challenges may result in difficulties and increased costs.

There is a risk of recession in Germany, while the packaging market in Poland is expected to grow

The packaging manufacturers market is also impacted by concerns of a potential recession in Germany, which is the primary export market for Polish packaging. This situation may present a challenge for domestic producers who rely on the stability of the German market. On the other hand, the euro area is expected to experience a moderate economic recovery, which will be supported by a decrease in inflation. An improvement in households financial situation can stimulate consumption growth.

Forecasts suggest potential growth in the packaging market in Poland. Higher economic growth is expected to be driven mainly by increased consumption and wage dynamics in many sectors. The Polish packaging industry has the potential to grow, and companies should adapt to changing market conditions and meet consumer expectations for sustainable packaging solutions.

Zapisz się do naszego newslettera
This field is for validation purposes and should be left unchanged.