Page 108 - Packaging News May-June 2021

TRENDS & TECHNOLOGY
What the post-Covid ‘new normal’
means for manufacturing
There is no doubt the world has changed significantly over the last 12 months, and inevitably, industries and businesses have also had to evolve, or risk being left behind. Machinery supplier Nupac shares its insight.
With the easing of restrictions and the slow transition back to normality in Australia, we have seen the panic buying subside, however, a large change in long-term buying behaviour remains.
With newly formed habits, consumers have adjusted the way they purchase and behave, which looks set to stay.
WHAT THIS MEANS
FOR MANUFACTURERS
With growth in industries, where this behaviour shift is focused, we can expect investment in production, packaging and automation.
It is important that these industries react in advance to the growing markets to ensure they capitalise on the segment growth, and that they don’t fall behind local and international competition.
Nupac has been heavily focused on working with companies in the food and pharmaceutical industries to ensure they are operating at full efficiency, and have plans to effectively increase production and develop new lines in the future.
Working with the top machinery producers globally, Nupac has the access and knowledge to ensure companies are ahead of the curve and positioned to maximise growth within Australia and New Zealand.
TRENDS THAT ARE
HERE TO STAY
There are three key trends that Nupac believes have become entrenched during the Covid-19 pandemic. Development and investment in these industries are key to a companies’ survival and growth.
HOME COOKING
■ With a combination of extra free time, closure of hospitality, and an increase in health consciousness, home cooked meals became much more prevalent throughout 2020.
■ Woolworths chairman, Gordan Cairns, stated there has been a 45 per cent increase in consumers eating home cooked meals, 33 per cent increase in consumers eating more fresh fruit and vegetables, and 60 per cent increase in plant-based proteins.
■ As a result, consumption of raw ingredients and cooking additions have, and will, continue to see growth within the Australian market.
PLANT-BASED FOOD
■ The plant-based food industry is experiencing record growth globally, with consumers seeking healthier and more sustainable foods.
■ The global plant-based meat market size is valued at US$3.3bn, with an expected CAGR of 19.4 per cent for the forecast period until 2027. This is a substantial growth rate globally (Grand View Research).
■ Australia is currently behind the mark globally, however, the room for growth in this industry is large, allowing great scope for investment and development, as consumer behaviour shifts and demand continues to grow.
NUTRACEUTICALS AND FUNCTIONAL FOOD AND BEVERAGE
■ Covid-19 has amplified consumers’ consciousness
around health and immunity, resulting in the demand for immune boosting foods, drinks and nutraceuticals increasing significantly.
■ The global functional foods market is projected to reach US$309bn by 2027, growing at a CAGR of 7.5 per cent (Precedence Research).
■ The Asia Pacific region is seen to be the largest market, with this expected to continue into the future. This presents great potential for the Australian market, as the global industry continues to evolve. ■
6 MAY-JUNE 2021 MACHINERY MATTERS