Packaging has a great role in innovations in the consumer goods market, serving more roles than just being a means of protecting products and helping in their identification. With the increasing marketing innovations, packaging innovation has also had much impact and influence on a consumer’s mind. The modern innovations in the packaging market also have an impact on the talc industry.
Modern Inventions And Impact On Products
Packaging influences the product’s perceived value and its actual cost. Innovations have made the product’s design more appealing and increased the ease of use and accessibility of the content. The modern innovations in the packaging market have made the product more convenient in terms of storing and transporting. It’s design, relevance and physical appearance makes the brand more valuable. Striking and innovative packaging designs make the product stand out from other products in the same category and attracts more customers.
Innovative product packaging helps in increasing the success of new products and it also extends the product lifespan of the products that already exist. With the increase in the on-the-go and busy lifestyles, more consumers expect things that are easy to access and enhance their lives, and packaging of materials has a great role to play in this matter.
With the emerging middle class and consumers climbing the economic ladder, there is an increase in disposable income and increased spending habits. It brings the need of securing and authenticating products by companies in order to attract more consumers and retaining the existing ones. The increasing demand and awareness of organic products and packaging materials are also augmenting the innovative packaging market.
Packaging Market Effect On Talc Industry
Talc powder has witnessed a lot of backlash, facing an image problem after reports of asbestos powder in talc causing health complications. Even with the growing health and beauty industry, the talc industry hadn’t been growing at the same pace. Its packaging was looked upon to be one of the factors that can drive its demand by developing packaging containers that would minimize the spread of dust particles in the air. The global talc industry revenues declined at an annual rate of appx 1.3% during the years 2011-15. This decline was witnessed due to weak demand in end-user industries like cosmetics, ceramics, and paints.
To consumers, talc powder is a useful commodity and working on its packaging can change the way talcum powder is dispensed, making it less likely to cause messy problems. Better packaging has led to redefining the talcum powder value and helped in repositioning it outside the traditional talcum powder market.
According to studies, consumers are active in the adoption of new and innovative propositions only if they see a performance-enhancing benefit while maintaining comfort. The new packaging of talc powder makes it much more convenient and a mess-free commodity. Not just that, but, portable packaging also makes it easy to be held in one hand, leading to ease of use and speed.
Along with the packaging industry innovations and the properties of talc powder keeping a person dry and fresh during exercise and sweating, there has been an increase in the talc powder industry.
Change in the packaging led to a change in the perspectives of people and changed the way consumers used to perceive and interact with talc powder.
Market Trends In Talc Industry
The Asia Pacific region is expected to continue to dominate the pharmaceutical and cosmetics grade talc market in terms of both volume and growth aspects. The largest markets for talc powder are going to be in China and India, although increasing awareness and demand for organic products is creating a constraint in its growth. Still, India witnessed a growth of approximately 20% in the export of talc.
The well-established markets of the talc industry include regions such as North America and Europe, which have considerable manufacturing and consumption rates of talc powder. The imports in the US have increased at an average rate of approximately 13 percent between 2011-15. Countries like Afghanistan and Pakistan are emerging as new sources of talc manufacturing. These countries are exporters of talc to the U.S. and Europe as they offer better quality products at low prices.
Many global talc manufacturers including Imerys, Mondo Minerals, IMI Fabi, Golcha Associated Group are expanding their demographic footprint in order to take full advantage of this industry.
In the near future, the talc industry will witness a growth in developing countries such as India, China, Afghanistan, and Pakistan. The growth will be driven by new improvements in the packaging industry which will make usage of talc powder easier and safer for industrial as well as domestic users globally.