FINAT Reports on Supply Chain Continuity and Sustainability
A FINAT study reports that supply chain issues and sustainable label and packaging solutions are the top concerns regarding label procurement trends with brand owner professionals.
FINAT, the European association for the self-adhesive label industry, has released the 16th edition of its “FINAT RADAR” half-yearly market trends report. This edition was based on a survey and follow-up interviews with more than 60 brand owners and printed packaging buyers across Europe in a variety of market segments. Whether in food, beverages, personal care, pharma, consumer durables, or automotive, the results show that supply chain distortions in the short run and sustainable label and packaging solutions going forward are top of mind when discussing label procurement trends with brand owner professionals.
The survey was conducted in the autumn of 2021, a period that revealed the growing tensions in global supply chains following steep declines in the global economy in 2020, the fast recovery in 2021, and the associated disruptions in global supply chains resulting from severe shortages (in raw materials, components, and labor), excessive rises in delivery times, and demand-supply gaps, all resulting in exponential increases of raw materials and energy prices. The report confirms that these supply chain concerns are of equal importance among the actors at the “bottom end” of the supply chain: label and packaging specifiers, engineers, sourcing and procurement, and R&D, as well as print production leaders active in the food and beverage, personal care, pharmaceuticals, chemicals, consumer durables, automotive, and retail sectors.