Buying activity from engineers & procurement professionals sourcing on Thomasnet.com has seen strong growth in 2020 for the packaging materials space. At a glance, the following major sourcing KPIs have seen a YoY increase vs. 2019:
Several categories related to packaging materials also saw growth. These include "Packaging Services” which saw a 13% increase in supplier evaluations, as well as “Packaging Machinery” which saw an 84% increase. The growth trend of "packaging machinery" compared to "packaging suppliers" suggests that companies may be vertically integrating to manage some of their packaging needs in-house as reshoring efforts continue to increase.
Activity increases for packaging materials, services, and machinery coincide with recent Thomas survey data that placed “Packaging” as the #5 product/service that buyers in the US and Canada were most likely to prioritize sourcing domestically.
Looking more specifically at Thomas data from Q3 2020, several growth categories include:
The top regions for activity from buyers seeking new supplier partners for packaging materials were as follows:
Additionally, New Mexico saw the biggest year-over-year growth in activity with a 650% increase in the number of sourcing sessions in which a buyer located in the state searched for Packaging Materials.
Several industries experienced large increases in sourcing activity for Packaging-related products and services on Thomasnet.com
Sourcing sessions for "Packaging Materials" from professionals in the healthcare procurement space increased by 30% over 2020, while buying activity for "Packaging Services" was up over 70%.
Buyers in the retail space drove an 85% increase in 2020 for sourcing sessions of "Packaging Services" and a massive 250% increase in activity for "Packaging Machinery."
Food and Beverage companies searching Thomasnet.com for new suppliers accounted for a 116% increase in activity for "Packaging Materials" and a 150% increase in activity for "Packaging Machinery."
Sourcing activity for "Packaging Materials" in the general manufacturing space grew by 34% while "Packaging Machinery" increased by 288%.
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