As the COVID-19 pandemic continues to affect industries across the world, the US packaging industry has witnessed a noticeable decline in demand. While optimizing to face the challenges of the pandemic, the US packaging industry has also started to focus on preparing for the post-COVID era. How can this industry successfully prepare for the post-COVID world? Leveraging expertise in market opportunity analysis is the answer. Understanding and anticipating potential risks, analyzing best-fit opportunities, and identifying ideal market segments, are some of the steps towards successfully overcoming the global pandemic. Infiniti’s industry experts recently assisted a US packaging industry client in achieving these goals. To learn how our market opportunity analysis helps US packaging industry clients identify their best-fit opportunities, request a free proposal.
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Market Opportunity Analysis for a US Packaging Industry Client (Graphic: Business Wire)
"The COVID-19 pandemic is pushing the world economy towards a recession. Like other industries, the US packaging industry is at a standstill with government-mandated lockdowns. As such, companies in the US packaging industry must take actions to flatten the expected recession and prepare for the post-COVID-19 era," says a packaging industry expert at Infiniti Research.
The client, a consumer packaging firm in the United States, was impacted by the steady decline in packaging demand due to the COVID-19 pandemic. The US packaging industry witnessed a significant shift in demand for food packaging due to the shutting down of food outlets. Additionally, consumers started to reduce expenditure due to the uncertainty caused by the pandemic. The US packaging industry client also saw this as an opportunity to prepare for the post-COVID era. The client approached Infiniti’s research experts and leveraged our expertise in market opportunity analysis, to gain a comprehensive understanding of the market. In the span of this six-week engagement, the US packaging industry client also sought to evaluate new growth opportunities, shift production to fulfill new demand patterns, and evaluate packaging-production flexibility.
Our market opportunity analysis experts developed a five-phase approach to assist the US packaging industry client. The approach included the following:
- Mapping the client’s potential opportunities from R&D, market, and competitive perspectives
- In-depth analysis to deduce optimal opportunities that best fit the client’s strategic imperative
- Selecting best-fit opportunities and formalizing the technology acquisition strategy
- Competitive landscape analysis and addressable market analysis of each best-fit opportunity
- Target market prioritization and developing a go-to-market and target company acquisition plan
Understand the approach employed by our market opportunity assessment experts by reading the complete article here.
Infiniti’s market opportunity assessment enabled the client to understand and act on anticipated disruptions and shortages. The client was also able to make necessary changes in their portfolio of packaging offerings, and shift production to fulfill new demand patterns. Additionally, the client was able to identify growth potential and manage new trends such as health and e-commerce. The client also adapted packaging designs according to the needs of e-commerce while adhering to consumer preferences.
To gain in-depth insights into the importance of market opportunity assessment in the US packaging industry, speak to our industry research experts.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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