The Coronavirus (Covid-19) pandemic is causing widespread concern and economic hardship for the consumers, businesses and communities the globe. Manufacturers are facing unique challenges caused by crisis and packaging producers are no exceptions.
The Pandemic raises a number of unique challenges. In PWC’s latest covid-19 CFO pulse survey, finance leaders in the United States and México top concerns.
One of the main concern in the industry comes from workers having to self-isolate worldwide, where many packaging companies rely on manufacturing facilities. Recently Australian supermarket heads warned that packaging supplies are in the danger of being hard to obtain due to factory closures in globe.
PA consulting manufacturing and supply chain exert Tim Lawrence said “The first shock in supply chain will be caused by the scarcity of supply companies should immediately receive their inventory level and policies- and ask suppliers to do the same”
Self –isolation and quarantining as a result of covid-19also means that important global packaging events, such as Germany based interpack and Amsterdam based Plastic packaging Show Europe have been cancelled or postponed.
The Global Food & Beverages industry includes various online food chains and offline food chains. The food & beverages industry includes the companies working in processing raw food materials, packaging and distribution which include prepared foods and packaged foods alcoholic and non-alcoholic beverages.
The Primary factors for the growth of food &beverages industry before covid-19 pandemic includes the rise in the number of on the go consumers and increased adoption of ready to eat food. Further, steadily increasing population and per capital income and changing lifestyle were other growth enhancing factors of food & beverages industry. However, the key factors that affect the food & beverages industry after the pandemic includes the shutdowns of the restaurants and other seating areas.
