2023 Market Insights: Healthcare, Packaging and Sustainability

In the latest issue of our Market Insights series, we’re diving into healthcare, packaging and sustainability. Josh Blackmore, Lindy Holland Resnick and Debbie Prenatt — M. Holland’s Healthcare, Packaging and Sustainability market managers, respectively — reflect on their markets’ last 12 months and offer predictions for 2023. Supply chain issues and balancing customer demand with available materials are two issues that impacted all three of these markets in 2022. Read on to see how M. Holland is responding and advice on how to have the most successful start to 2023.

According to Lindy Holland Resnick, Packaging Market Manager at M. Holland, sustainability continues to dominate the conversation throughout the packaging market. “Worldwide brands are committed to sustainable materials in their packaging and are designing for recyclability,” Lindy said.

What do the next 12 months look like for packaging? Lindy predicts market competition will intensify and become more favorable to buyers despite a less-than-ideal economy. Inflation and a recessionary climate mean companies must find ways to add value or lower costs in single-use, multi-use and durable goods. “Spending time to hone your service levels and business case, in any stage of the supply chain, is of critical importance,” Lindy explained.

To position yourself for success in 2023, Lindy recommends focusing on what you can control, which includes the materials you buy and the goods you purchase. “Cash flow management is of the utmost importance right now,” she said.

Sustainability will continue to be a primary focus across most industries. According to Debbie Prenatt, Sustainability Market Manager at M. Holland, sustainability was at the forefront at K 2022 in Dusseldorf, Germany, the largest plastics industry event. “Attendees were inspired to take ownership and action to address issues surrounding climate change and a circular economy,” Debbie said.

As for what we can expect in the coming months, Debbie predicts global policy and legislation will continue to drive recycling infrastructure. It will also influence product design, both for recyclability and material selection. Debbie anticipates seeing more collaboration with non-traditional partners to reduce greenhouse gases, landfill contributions, incineration and plastic pollution.

“Every company should have a sustainability program, regardless of size, especially as large OEMs and brand owners push their sustainable procurement objectives further down the supply chain,” Debbie said. As we begin 2023, it’s critical for businesses and processors to know the sustainability goals of their customers or OEMs and align with them accordingly. Responsible product design, sustainable material selection and the circular economy should be central to product development. Additionally, everyone should stay informed on policy changes and changing customer preferences, which can potentially impact plastics products and end markets.