Buyers are actively seeking new supplier partners for their packaging material needs in 2020
The purchasing activity from engineers and sourcing purchasing professionals on Thomasnet.com experienced strong growth in 2020 for the packaging materials space. At a glance, the following key sourcing KPIs saw a year-over-year increase compared to 2019:
- The number of sourcing sessions for packaging materials increased by 25%
- The number of RFIs submitted directly to suppliers via Thomasnet.com increased by 140%
- Number of supplier reviews performed on Thomasnet.com company profiles of packaging material suppliers increased by 55%
Several categories related to packaging materials have also experienced growth. These include “packaging services” which registered a 13% increase in supplier ratings, as well as “packaging machines” which registered an 84% increase. The growth trend of “packaging machines” versus “packaging suppliers” suggests that companies may be vertically integrating to handle some of their in-house packaging needs as relocation efforts continue to grow. ‘to augment.
Increases in activity for packaging materials, services and machinery coincide with data from a recent Thomas survey which ranks “packaging” as the fifth most popular product / service for buyers in the United States and the United States. Canada are most likely to favor for sourcing at the national level.
Looking more specifically at Thomas’ data for Q3 2020, several categories of growth include:
- “Packaging” – 12th most sourced product category
- “Contractual bottle filling packaging” – 14th most sought after service category
- “Agricultural Packaging” – 173% growth in sourcing activity
Which regions generated the most packaging material sourcing activity?
The main areas of activity for buyers looking for new supplier partners for packaging materials were:
- California, United States
- Ontario, California
- Illinois, United States
- Texas, United States
- New York, United States
Additionally, New Mexico saw the strongest year-over-year business growth with a 650% increase in the number of sourcing sessions in which a buyer located in the state searched for packaging materials.
Which industries are most in need of new suppliers of packaging materials?
Several industries saw a sharp increase in sourcing activity for packaging related products and services on Thomasnet.com
Health Packaging Buyer Activity
“Packaging Materials” procurement sessions with healthcare procurement professionals increased by 30% compared to 2020, while purchasing activity for “Packaging Services” increased by 30% compared to 2020. increased by more than 70%.
Retail packaging buyer activity
Buyers in the retail space generated an 85% increase in 2020 for “Packaging Services” sourcing sessions and a massive 250% increase in activity for “Packaging Machinery”.
Food and beverage packaging buyer activity
Food and beverage companies seeking new suppliers on Thomasnet.com accounted for a 116% increase in business for “Packaging Materials” and a 150% increase in business for “Packaging Machinery”. ‘packaging “.
General manufacturing packaging buyer activity
Sourcing activity for “Packaging materials” in the general manufacturing space increased by 34%, while “Packaging machinery” increased by 288%.
Which companies are looking for packaging materials, services and machinery?
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