- ECONOMIC IMPACT -

Latest update: 2 December

Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.

The European Commission estimates that
the Euro Area economy will contract by 7.8% in 2020 and then recover to 4.2% in 2021.

-4.4%

The IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.

5.3%

The global economy is estimated to contract by 4.2% in 2020 and bounce back by 5.3% in 2021.

Impact of Covid-19 on equity indices

- SECTOR IMPACT: PACKAGING -

Latest update: 2 December

The rise of the ecommerce channel is significantly impacting the packaging industry, and suppliers are optimising packaging to be more robust for this channel to meet manufacturer requirements.

Digital tools continue to be used to achieve safety and efficiency. Packaging companies also recognize the continued importance of investing in sustainable supply chain operations.

materials impact

Packaging impact assesment

Revenue and employment


Packaging for shelf-stable food products continues to be in demand, while demand for luxury goods packaging is stale as discretionary spending is reduced.


Packaging for the foodservice channel is reduced as consumers exercise caution and some are avoiding food cooked outside of the home even if delivered.


MSO Cleland, an Irish packaging firm, has made a £5m investment in its business and has created 35 new jobs due to the continued demand for sustainable packaging options.

Supply chain and demand disruption


Footprint, a US-based sustainable technology firm, recently launched a plant-based compostable clamshell to-go container for the foodservice industry. The plastic-free innovation recognises the rise in takeaway meals amid pandemic lockdown measures and the requirement for sustainable plastic alternatives.


UK start-up Bullard Spirits is offering consumers pouch refills of its gin portfolio in the country. The pouches are produced by Terracycle, and can be flat-packed to fit through a standard letterbox, a direct-to-consumer model to appeal to consumers at home amid and beyond the pandemic.

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