Marketing, sales and consumer behaviour – May 2023

Global PET market
According to a recent report by Fortune Business Insights, the global PET market size touched $44.30 billion in 2022 and is anticipated to reach $91.37 billion by 2030. The growing demand for recycled PET from various industries such as packaging, is expected to provide significant growth opportunities for the market. You can find more information in the report summary.

Global pharmaceutical logistics market
Transport Intelligence has published a white paper entitled ‘Global Pharmaceutical Logistics: Market Size and Forecasts 2022-2027’. As of 2022, the market was dominated on a regional level by North America, closely followed by Europe. You can download the white paper after filling in your details.

Do packaging cues affect consumers’ understanding of plant-based products?
TU Delft researchers studied the effect of packaging cues on consumers’ understanding of plant-based products. They found that terminology and image significantly affected consumers’ expectations for the sensory characteristics of the two products (plant-based milk and chicken) they used in the study. The research (6.95 MB) is published in Food Quality and Preference.

Consumers and sustainability
The 2023 Buying Green Report (4.3 MB) by Trivium Packaging shows that, despite consumer prices rising substantially due to global inflation, consumers are increasingly willing to pay more for products in sustainable packaging. 82% of respondents overall would be willing to pay more for sustainable packaging, up four points from 2022.
A global survey conducted by McKinsey shows that most consumers do not have a strong understanding of which packaging is more sustainable but seem to favour compostable and plant-based packaging. A recent article zooms in on the response in the US.

How environmentally friendly do consumers find plastic and paper packaging?
Researchers at Tilburg University studied the perceived environmental friendliness (PEF) bias whereby consumers judge plastic packaging with additional paper to be more environmentally friendly than identical plastic packaging without the paper. They found that this bias can be mitigated by a “minimal packaging sticker” intervention, which increases the PEF of plastic. The study (1.89 MB) is published in the Journal of Consumer Research.
A recent study by the University of Bonn shows that German consumers consider paper-based packaging to be particularly environmentally friendly. Nevertheless, they tend to be sceptical about innovative products such as paper-based bottles.
According to a recent survey (404 kB) released by PLASTICS, 90% of Americans care more about a plastic item not ending up in the trash or litter than which process is used to recycle the item.

Prices for plastics
Dutch trade magazine Vraag en Aanbod publishes a weekly overview of the prices for plastics (in Dutch). The prices given are estimated averages between the gross prices published in the trade journals and the net prices.
 

NVC members receive this information with all the relevant links in the monthly NVC Members-only Update. If you have any questions, please contact us: info@nvc.nl, +31-(0)182-512411