Nigeria’s packaging industry despite its growth and reward potential remains one of the most underexplored sectors. However, the packaging industry continues to attract investments due to the increase of several end-user industries, such as the food processing industry, cosmetics and household care, etc.
The sector is expected to grow at a CAGR of approximately 8 percent between 2021 and 2026 thus providing a lot of opportunities, hence as companies and brands position to tap from this, they are expected to adopt innovative and sustainable practices suitable for businesses and consumers and beneficial to the environment
This was discussed at the recently concluded Propak West Africa Exhibition 2021 where industry experts say that the E-commerce sector which is thriving due to growing urbanization, consumer spending, pandemic aftermath, etc. is also expected to boost the demand for packaging solutions.
In his keynote address, Victor Ukwat, executive director, sales and marketing, Redstar Express said just like every other sector, the pandemic also affected Nigeria’s packaging industry in different ways such as reduced output however it prompted the use of more packaged products among consumers.
“Consumer’s preference has changed significantly due to preference and purchasing power. Also, the flexible packaging industry is witnessing significant changes owing to its versatility and availability, this presents an opportunity that SMEs can explore,” he said.
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“Enhancing activities in the packaging industry requires investments in raw materials, optimizing innovation and improvising to upscale, improved logistics while protecting the environment,” he said.
Ukwat added that there is a need to boost local capacity to meet demand in the packaging industry, noting that imports usually experience hiccups like unfavourable exchange rate, expensive raw materials, etc.
Speaking on meeting sustainability goals and how brand strategies are evolving, Osamede Uwubanwen, general manager, Bio Generics pharmaceutical said organizations need to pay attention to preferences and changes while ensuring that sustainability is prioritized.
He added that as trends are changing and people are beginning to get more informed, hence brands need to adopt strategies that are suitable for consumers, the environment and business when providing affordable and flexible packaging for products.
“The impetus behind any brand evolution is ultimately an economic goal, however consumers have a growing insistence for brands with sustainable practices, so businesses that follow sustainable development goals are in great demand these days,” he said.
He added that by focusing on both the customer-focused business objective and the purpose of an organization, mindful brand evolution builds a win-win into the brand strategy, messaging, voice expression and story.
Ahmed Omah, President, African Packaging Organization said the sector is bedeviled with various challenges such as infrastructure deficit, poor policy implementation and inability to continue established policies, among others which affects its productivity and competitiveness,
He urged that players in the packaging industry partner with other stakeholders locally and internationally to improve activities, adding that the government also needs to provide a more consolidated intervention.
George Pearson, regional director, Afrocet Montgomery exhibitions and events limited, who are the organizers said in his remarks that Nigeria’s packaging processing, printing and plastics industries continue to offer huge opportunities and abundance of untapped potential.
“This makes a perfect opportunity to present innovative product solutions and also showcase latest developments,” he said.
Speaking on the conference, he said the 2021 edition focuses on improving the sustainability of the sector, utilizing new practices developed in recent years and providing examples of how these can be applied in Nigeria.
