July 2020, Limerick PA – As Coronavirus has spread throughout the World, it’s impact can be seen across multiple industries varying from maximum damage to success. As shoppers lean towards online buying the role of the packaging industry is even more vital than before.
Food products, consumer goods, pharmaceuticals and e-commerce sales have ignited an increase in the need for packaging with a quick turnaround. With the rapid shift towards online buying, demand for paperboard converting and packaging is under pressure. “Our paper converting company is currently operating fully manned 24/7 to keep up with the demand,” says Scott Korn, President and CEO of The Bengal Group.
As crude oil takes a massive hit, the price drop has a direct impact on raw materials that utilize oil such as resins. This serves as an opportunity to create a higher profit margin for the packaging industry essentially buffering it’s losses from hard hit areas.
The healthcare sector has seen explosive growth for pharmaceuticals, personal protection equipment and vitamins/supplements. “A large portion of our demand has come from converting materials for PPE masks and gowns to protect frontline workers during the COVID-19 pandemic,” explains Scott Korn.
Being part of the supply chain has proven time and time again how essential the packaging industry is to our modern way of life. It will be interesting to see the long-term impact as the World braces for a functional vaccine to tame the pandemic.