Global Megatrends and Opportunities to Innovate | Adhesives manufacturing company

Global Megatrends and Opportunities to Innovate

Posted 04 Sep 2024 by Kristy Beckman, Vice President, Global Product Management & Marketing, HHC

This blog was powered by collaboration among the Hygiene, Health, and Consumables (HHC) Leadership Team.

In today's fast-moving global markets, monitoring megatrends is not just helpful - it is necessary for businesses to stay ahead. Major shifts in consumer behavior, technology, and global economics are reshaping industries and creating new opportunities for organizations to innovate. Recognizing and responding to them with agility and fresh thinking is key to creating products that meet the evolving needs of consumers and pave the way for a more convenient, safe, and sustainable future.

At H.B. Fuller, we are monitoring the following megatrends and partnering with customers to create new solutions.

Sustainability

According to McKinsey & Company, young consumers prioritize sustainability when making purchases. There is an opportunity for producers of everyday products, including those in the packaging and hygiene markets, to rethink materials and processes to reduce waste and carbon footprints. Investing in life cycle analysis capabilities is crucial to understand a product's environmental impact from production to disposal. This helps find areas for improvement and communicate a product's environmental benefits to consumers who are increasingly making purchases based on these factors.

Food Safety

There is growing concern about food safety and chemical exposure in food packaging. Consumers are wary of products containing potentially harmful chemicals such as PFAS (per- and polyfluoroalkyl substances). In response, companies are creating innovative food packaging solutions that don't compromise safety or quality. Bringing technology to market that replaces products containing harmful chemicals can meet consumer demand for safer options and position a company as a leader in innovative solutions that prioritize the health of its consumers.

Lifestyle Freedom

The term "lifestyle freedom" is being increasingly applied to consumers with increased income levels, as well as members of the aging population who lead an active lifestyle. As incomes rise in developing economies, so does the demand for disposable goods. This trend creates opportunities for businesses to innovate in disposable goods that meet the demand for convenience while minimizing their effects on the environment. Additionally, the adoption of topical skin adhesives in wound closure shows a trend toward health-enhancing solutions in hygiene and healthcare. Investing in such solutions can meet a critical market need while promoting public health and well-being.

E-Commerce

The rise of online shopping has changed how products are sold and how those products are experienced by customers. To succeed in this new landscape, innovation is key. Improving delivery and the unboxing experience can make a product stand out online and encourage loyalty and repeat purchases.

These megatrends are creating opportunities for companies to innovate and invest in sustainability, e-commerce, food safety, and health-enhancing solutions. By doing so, they can meet evolving customer demands and contribute to a more sustainable and healthier world. Success in this endeavor requires a commitment to understanding consumer needs and values, along with a willingness to embrace change and innovation.

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