The outbreak of Coronavirus pandemic has badly damaged the economies of many leading countries of the world. Industries like travel and tourism are facing complete shutdown while others are highly affected by preventive measures like lockdowns. On the other hand, this situation has led to a sharp increase in the demands of Pharma, Medical and FMCG products worldwide, which has evolved as an opportunity for machining manufacturers in the field of Pharmaceuticals, FMCG and Packaging Products.
What is Coronavirus? – History & Present Scenario
Coronavirus disease, also known as COVID-19, is an infectious disease caused by the Coronavirus that do not have a long history and yet its actual generation source couldn’t be identified. Coronavirus outbreak was first found in Wuhan, China in December 2019 and since then, it has been spread across many countries in the world. As of writing this article, it has spread across more than 190 countries in the world with 3,75,498 confirmed cases and 16,362 confirmed deaths (as per the WHO website). Considering the severity of the Coronavirus outbreak and its implications, the WHO declared it a pandemic on March 11, 2020.
Some of the most common symptoms of Coronavirus infection are the common cold, dry cough, fever, and breathing difficulties. In more severe cases, the infection can cause the death of patients.
Coronavirus Spread
Sudden Spike in Demand of Pharmaceutical and FMCG Products
As a result of the Coronavirus spread, there is a high demand for daily necessities, medicines, and personal hygiene products for the last couple of months. A sudden spike in demand for Pharmaceutical and FMCG Products against the standard supply has created a shortage of essential products. The shortage of these products is not only limited to the local grocery stores, but the case is also same with e-Commerce platforms as well. Because of the current situation worldwide, people have started buying and storing the daily basic Pharma and FMCG needs. This panic buying is also contributing to the increase in demand for the Pharmaceutical and FMCG Products worldwide.
Considering the current situation, all the Pharmaceutical and FMCG products manufacturers have increased the production of essentials like hand sanitizer, disinfectant, toilet papers, bottled water, medicines, masks, food products, etc. This has led to the high demands of various Pharmaceutical Equipment, FMCG Machines, and Packaging tools. Moreover, the businesses are switching from traditional and manual machines to highly advanced automatic machines like automatic bottle filling machines, automatic capping and labeling machines to meet the high production requirements.
Implications of Coronavirus on Machining Industry
Today, many countries across the world are going through lockdown situations and they have stopped all the business operations except basic essential products and services. This has created a great business opportunity for today and tomorrow in the countries where the Coronavirus spread is minimal or managed well by local Governments. Considering the constantly increasing demand for the FMCG and Pharmaceutical products, the companies are facing immense pressure to increase their production and as a result, they are investing more in their manufacturing facilities and machinery.
Be it a multinational company or a small business unit, all the Pharmaceutical and FMCG products manufacturers are getting multiple orders to fulfil the rising demand worldwide. These companies are increasing their production capacity with the help of latest machinery. As some of the leading countries are facing lockdown situations, their local Company production is affected, but medical and FMCG demand is still intact so they need to outsource such products which may increase the production ratio of other countries and to gear up production, other countries also need the large scale machineries in high demand. This scenario has developed great opportunities for the FMCG Machines, Packaging Products and Pharmaceutical Machinery manufacturers.
Effects of Lockdowns on FMCG and Pharmaceutical Industry
All the leading countries of the world are in the process of making a vaccine for Coronavirus and it may take up to several months as well. However, looking at the current situation, it is very critical to take preventive measures to stop its spreading. As a result, the majority of the countries affected by Coronavirus are forced to implement lockdowns. But many FMCG and Pharmaceutical manufacturers increase their production overnight considering the current market scenario and future forecast.
A proactive step taken in the right direction benefitted these companies as well as society. Even today, many companies are expanding their product range and diversifying their business based on the forecast. Undoubtedly, it is the right time for the companies to think about expansion and make the best use of this opportunity for the growth of the company and to help society.
Digital Marketing – Apt Promotion Strategy
FMCG Machines, Packaging Products and Pharmaceutical Machine Manufacturing industry is very active in organizing business exhibitions for increasing trade opportunities. However, as a preventive measure for Coronavirus, the majority of the business exhibitions are getting cancelled across the world and it is expected to continue in the coming time as well due to the increasing spread of Coronavirus.
In this situation, Digital Marketing is an apt promotion strategy for the FMCG Machines, Packaging Products and Pharmaceutical Machine Manufacturing companies. Digital Marketing enables the promotion of products to prospective customers all around the world. Including Digital Marketing in your promotion strategy not only gives great visibility in terms of a marketing strategy, but also provides immense opportunity for an increase in revenue.
The Future Trend
The Coronavirus outbreak has increased health and hygiene awareness around the world. As a result, people are becoming more health-conscious, which is an important factor contributing to the increasing demand for quality FMCG and Pharmaceutical products. Based on this, it is very clear that health and hygiene products markets are expanded many fold and these products are going to be an integral part of the society with stable rising growth even after the Corona effect will be subsidised.
If companies choose to promote their products with the help of traditional marketing tools, they may get limited visibility. On the other hand, it is promoted with the help of digital marketing, the products get visibility all around the world and companies can get benefits from getting visibility in new potential markets globally.
Opal Infotech – An Undisputed Leader Offering the Best Digital Marketing Ideas
Opal Infotech is a leading Digital Marketing and Web Design & Development Company since 1998. We have been providing customized digital marketing solutions to our valued clients in more than 85 countries. As a result of wide industry experience and a team of highly skilled professionals, we have gained a reputation as one of the best digital marketing agencies. If you are looking to enhance your online presence and reputation through digital marketing, you can get in touch with us and we will help you in achieving your business objectives.
Bottom Line
In the current market scenario where most of the traditional marketing solutions are affected by the Coronavirus outbreak, Digital Marketing is the best promotional platform and strategy for the companies. Various digital marketing tools like Search Engine Optimization, Google ADs, Google Shopping, Social Media Marketing and Paid Marketing offer tremendous advantages such as increased visibility, targeted approach, tracking and control and an increase in revenue. If you are planning to incorporate Digital Marketing in your promotion strategy, this is the right time to make the best use of this opportunity and get amazing benefits.