Today: November 25, 2015, 5:18 am

New C&M analysis: Packaging Industry (Taiwan) Cheng Loong Corp Company Profile
Cheng Loong Corp in Packaging Industry (Taiwan) - a new company profile report on 2014-03-18 18:28:03
Cheng Loong Corporation was founded in 1959 as a corrugated box manufacturer. Over the five decades the company focused on their core business of paper manufacturing and processing while developing a comprehensive supply chain. Cheng Loong Corporation has built a strong reputation for quality, service, technology, cost-efficiency, and competitiveness. In 2010–2011, manufacturers have focused on new product development in packaging. Innovative packaging that seeks to be different has been at the forefront of marketing efforts to expand in a market where competition is intense but purchasing power has yet to fully recover. In terms of functionality, there have been new developments such as trigger closures on toilet cleansers that allow for spraying at any angle and offer both mist and foam options. Shape, design and materials used have all undergone innovative changes.

Following Taiwan´s entry into the World Trade Organization (WTO) in 2002, taxation changes lead to soaring rice wine prices, up from NT$20 per 600ml glass bottle to NT$180 in a short timeframe. Use of glass in rice wine fell from 100% market share and approximately 200 million glass bottles to a 3% market share at approximately 7.5 million bottles. PET bottles became the rice wine packaging of choice for several small regional players. In 2009, public pressure caused the traditional leading brand of rice wine in glass bottles, TTLC, to reduce its price to NT$50 a bottle, which resulted in a significant bounce in sales, almost 70 million bottles. In mid-September 2010, TTLC further dropped the bottle price to NT$25 as a result of the government replacing taxation of rice wine labelled "For Cooking Only" as an alcoholic drink with a cooking wine tax. This change allowed glass packaging for non-grape wine, mainly rice wine, to increase almost 34% in 2010 and over 26% in 2011.

Convenience stores have been increasing the services they offer their consumers. In 2010 and 2011, stores have aggressively expanded their range of chilled processed ready meals whilst at the same time offering in-store seating and benches, and at some locations outdoor seating with tables. With consumers readily taking to the new offerings, there has been robust demand for plastic trays and folding cartons, the most commonly used pack types for this type of product, as well as flexible plastic as secondary packaging. Product offerings are expected to continue to expand due to strong consumer demand, resulting in manufacturers seeking out more interesting packaging designs.

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