US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

Increase in Packages Shipped Spurs Demand for Tape

Regular readers of this blog know that one of the many changes the US has undergone as a result of the COVID-19 pandemic has been a dramatic increase in the number of packages shipped, as people continue to shop from the comfort – and safety – of their own homes. This is one trend that shows little, if any, sign of abating going forward.

For instance, in The Freedonia Group National Online Consumer Survey (conducted November – December 2020), 65% of respondents said they were currently shopping in brick-and-mortar stores less because of the coronavirus pandemic and 56% said they were shopping in stores at off-times more often because of the pandemic. Similarly, 28% of respondents noted that they subscribed to Amazon Prime because of the coronavirus.

Thus, the recent announcement by Intertape Polymer Group – one of the leading US manufacturers of tape and other packaging supplies – that it would expand its production center in Danville, Virginia should not come as a surprise. The surge in packages shipped has in turn driven demand for tape and other materials used to keep packages – and their contents – safe and intact during shipment. Indeed, with US consumers continuing to prioritize online shopping over in-store visits for the foreseeable future, consumption of tape will also rise, thus ensuring that this additional production capacity will not be idle.

For more information and a discussion of market opportunities, see The Freedonia Group’s extensive collection of off-the-shelf research related to the packaging industry, including Global Corrugated Boxes,Corrugated & Paperboard Boxes,Protective Packaging,Global E-Commerce Packaging,Stretch & Shrink Film,Global Pallets,Bubble Packaging,Insulated Packaging Containers & Shippers,Protective Mailers, andGlobal Packaging Machinery. Related analysis from our sister publisher Packaged Facts can be found in these reports: Amazon Strategies and the Amazon Shopper, Consumer & Corporate Food Gifting in the U.S., Food Carryout & Delivery, and Global Food E-Commerce. Freedonia Custom Research is also available for questions requiring tailored market intelligence.

  Chemicals      Covid-19      Packaging      Plastics & Other Polymers