What the Packaging Industry Can Expect in 2022
The material and labor shortages that marked 2021 aren’t going away anytime soon. As Andrew D. Paparozzi, chief economist at PRINTING United Alliance, warned during his presentation last fall at a PRINTING United Alliance Live and Local event sponsored by HP, persistent embedded inflation is not only here but has already worsened as we have started 2022. Furthermore, the U.S. Federal Reserve is expected to raise interest rates in March for what many economists say is only the first of many times this year.
The news isn’t all bad, though. Print service providers (PSPs) that learned to navigate the challenges of 2021 can use their more sharply honed operations and business models to build foundations for success in 2022. Here is an exploration of what 2022 will unleash for the package printing market and how PSPs can stay competitive.