COVID-19’s Impact on IBC Liners Market

The COVID-19 pandemic has resulted in a -0.3% blip in the global IBC liners market, attributed to the imposition of stringent lockdown which impacted global packaging supply chains and logistical arrangements in the initial wave of infections. Fortunately, governments are gradually lifting restrictions, leading to a resurgence.

Demand is being largely sustained by increasing consumption of instant foods & beverages and pharmaceutical products. As per an OECD publication, weekly sales of frozen foods were 63% higher in March 2020 compared to the previous year in France, while Germany registered a yearly increase of 56%.

Since then, demand has hovered around 15-20% higher. As a consequence, the need for efficient and safe packaging solutions has witnessed credible proliferation, thus paving the way for IBC liners' market expansion.

Likewise, the pharmaceutical industry has also provided the impetus to the market. For instance, the Indian pharmaceutical market registered a 12% increase in its drug exports as opposed to 10% in the previous fiscal. Consequently, effective packaging solutions have been deployed to ensure their safe delivery.

As the world braces for the second infection wave, packaging giants are strengthening existing supply chains and logistical arrangements to navigate through the pandemic crisis, thereby offsetting any further anticipated recessionary impact in the remainder of the crisis.