Market Overview

Scott Korn of The Bengal Group Discusses the Impact Of Coronavirus On the Packaging Industry

Share:

As Coronavirus has spread throughout the World, it's impact can be seen across multiple industries varying from maximum damage to success. As shoppers lean towards online buying the role of the packaging industry is even more vital than before.

LIMERICK, Pa. (PRWEB) July 07, 2020

As Coronavirus has spread throughout the World the impact can be seen across multiple industries varying from maximum damage to success. As shoppers lean towards online buying the role of the packaging industry is even more vital than before.

Food products, consumer goods, pharmaceuticals and e-commerce sales have ignited an increase in the need for packaging with a quick turnaround. With the rapid shift towards online buying, demand for paperboard converting and packaging is under pressure. "Our paper converting company is currently operating fully manned 24/7 to keep up with the demand," says Scott Korn, President and CEO of The Bengal Group.

As crude oil takes a massive hit, the price drop has a direct impact on raw materials that utilize oil such as resins. This serves as an opportunity to create a higher profit margin for the packaging industry essentially buffering losses from hard hit areas.

The healthcare sector has seen explosive growth for personal protection equipment, pharmaceuticals and vitamins/supplements. "A large portion of our demand has come from converting materials for PPE masks and gowns to protect frontline workers during the COVID-19 pandemic," explains Scott Korn.

Being part of the supply chain has proven time and time again how essential the packaging industry is to our modern way of life. It will be interesting to see the long-term impact as the World braces for a functional vaccine to tame the pandemic.

For the original version on PRWeb visit: https://www.prweb.com/releases/scott_korn_of_the_bengal_group_discusses_the_impact_of_coronavirus_on_the_packaging_industry/prweb17238055.htm

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com