Ship Shape: Paper and Packaging Prices on the Rise
IBISWorld looks at the rising price of paper and paper-based products and what procurement professionals can do to salvage buyer power.
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Packaging Services
Suppliers of packaging services provide both manual packaging and machine packaging of client's materials. IBISWorld forecasts packaging service prices to grow at an annualized rate of 2.5 percent in the three years to 2017. The rising price of packaging supplies will boost supplier input costs, fueling service price growth. Additionally, rising average wages in the packaging services market will further contribute to price growth. In light of rising costs in the market, buyers should conduct a thorough cost-benefit analysis to determine whether they should outsource the process or conduct it in-house.
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