The healthcare packaging market outlook through 2026 was released earlier today (October 20, 2016). This research, conducted and produced by Commodity Inside, attempts to predict the future of the market. It helps producers and manufacturers alike know what to expect in terms of medical packaging trends and requirements. The report also provides a commentary on both existing and emerging markets, particularly where organizations may want to focus attention going forward.
Elements Affecting Healthcare Packaging
On average, countries spend 10% of the world’s Gross Domestic Product (or GDP) in the health sector every year. Populations are growing in nearly every corner of the globe. This leads to increased urbanization, increased aging population, and an overall increase in healthcare spending from consumers as well. The increase in demand is expected to continue to rise into the future.
Asia is driving much of the growth in healthcare packaging. Globally, the demand grew in 2015 by 5.6%. This equates to $65.8 billion worldwide. It’s a sizeable market, to say the least, and one still expected to grow by at least that amount in the next decade (another source predicts hitting $82 billion by 2021). The 2026 outlook includes chapters focusing specifically on:
- Asia (China and Japan, specifically)
- Europe (France, Germany, Italy, Russia, Spain, the United Kingdom)
- North America (Canada and USA)
- Latin America (Brazil)
- Middle East/Africa (Egypt and South Africa)
Each section includes a market review and a market outlook. An appendix provides further macroeconomic information.
Medical developments are driving the demand as well. As devices become more lightweight and efficient, packaging needs to reflect those updates. Additionally, medical device packaging needs to meet the needs of consumers. That might mean using magnetic closures on boxes to aid in opening. It might mean integrating carrying components, like handles built into containers, so devices are more mobile. And, like phones and laptops, healthcare developers are always looking to make devices lighter. This means that packages need to take on more protective roles. Look for more rigid setup boxes, thermoformed protective cavities and other custom features.
About Commodity Inside
In addition to healthcare packaging, Commodity Inside also produces reports on corrugated packaging, flexible paper packaging, folding cartons, and more.
Playing games is something that goes back to the beginning of sentient beings. Ok, I don’t *know* that, but we can assume that once beings started being able to think complex thoughts, they were able to become bored. And out of boredom comes attempts at relief, right? That sentiment has endured for centuries. There’s evidence that ancient Romans played tic-tac-toe; Anne Boleyn was quite adept at chess; and in modern times, a simple word game on cards can take the world by storm. It’s no wonder that board games and card games are among some of the most funded Kickstarters. A custom game box is a great way to draw attention to your Kickstarter as well as spread the word about your product.
Ad Magic CEO Shari Spiro (recently profiled in Bloomberg) knows a thing or two about designing a custom game box. Her company has created packaging for the understated Cards Against Humanity and the more crass Poop: The Game, to name a few. Here are a few considerations for those getting ready to design a custom box for a Kickstarter board game or card game.
Considerations For Your Custom Game Box Design
- Have a plan
Don’t pull a number out of thin air when it comes to packaging costs. The goal is to make money, obviously, so think critically about what you want to sell for, and we here at Sunrise can help provide options from there.
- A little whimsy is doable
Crazy custom game packaging abounds on Kickstarter, and not all packaging companies can handle the most extreme. Remember, while outlandish ideas are great to grab attention, they’re not always sustainable. Keep the whimsy to the design, the content, and the game itself.
- Leverage your network
Spiro has her favorite vendors and producers to accomplish the challenges that customers place in front of her. Game makers can also reach out to the other people they know who are working to create games, or Kickstarter campaigns, and capitalize on their lessons learned.
Board games and card games are among the most ambitious projects on Kickstarter. They require a varied skillset: creative, logical, ambitious, not to mention entrepreneurial. Crowdfunding is still something of an emerging model, with clear successes and failures as far as projects go. Do your due diligence when it comes to packaging your product. It can help attract funders in the early stages, and it’ll garner new customers as your product launches.
It might surprise you to learn that different generations have different effects on the packaging industry. Baby boomers, which have thundered like a herd of elephants through the ages, dominate the pharmaceutical packaging market. Medical device packaging for them needs to be lightweight, easy to open, and clearly labeled. However, millennials have surpassed the baby booms to become the largest generation in United States history. Representing nearly 25% of the population, it’s clear that packaging for millennials requires a different tone, look and feel than previous generations.
Packaging for Millennials is Different
Millenials are defined as the generation born between the early 1980’s and mid-1990’s. While singular qualities range, like any generation, millennials are marked by their desire for uniqueness and creativity, and manufacturers are reacting with increasingly innovative and interesting packaging decisions. Their comfort with mobile devices and online shopping means that knowledge and possessions are quickly available at their fingertips. Ranging from their early twenties to late thirties, their purchasing power is primarily what’s driving the changes in packaging to meet their desire for instant gratification.
What Millennials Look For in Packaging
According to Packaging Digest, there are a few common things that millennials look for in choosing brands and, by extension, packaging for millennials:
- What does the brand say about me?
Millennials want to feel a personal connection to brands because brands say something about a person. In part, brands define who a person is and what their values are. As a generation with access to nearly anything, the choices are limitless. To assign meaning to those choices, millennials see their purchases as emblematic of themselves.
- How can this brand be customized to me?
It’s the insult of all insults: BASIC. To call someone basic is essentially to call them uninteresting. Un-extraordinary. Snd worst of all, boring. This is partially a reference to the millennial love for specialty product ingredients but also the packaging. Millennials consistently gravitate toward custom packaging, according to Supermarket News. Think of the Coca-Cola initiative recently, with people’s names on Cokes.
- Is it exclusive and high-end packaging?
Building on the customization factor, millennials love high-end private label branding. Think luxury and exclusive packaging. Or at least packaging that can be perceived like that.
- Who else is using it?
Social media gives everyone a platform to rant or rave about products, and millennials are very adept at picking up what’s hot and what’s not. Creating buzz is key to packaging for millennials. Include QR codes, hashtags, anything that invites interaction with the brand on the package itself.
How Packaging for Generation Z Will Go Even Further
There’s no sign of these trends stopping with millennials. Generation Z is coming up fast behind them, and they promise to wield even more market power. Expect them to want an even MORE personal relationship with their chosen brands.They’ll also expect to use their mobile-first identity to interact with brands constantly.
Contact Sunrise today for tips and ideas on creating packaging that speaks to millennials in their language.