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, and Global 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.