You may remember that when coronavirus-related shutdowns began, the canned food shelves on your local supermarket got a little bare. Even now you may have problems finding your preferred brand. Personally, I couldn't find my favorite peanut butter on the shelves between March and July. (I know. First World problems.)
Here's the thing: That demand for jarred, bottled and canned foods isn't expected to end anytime soon. And that's very good business for suppliers of food packaging.
Silgan Holdings Inc. of Stamford, Conn., reported record sales across its plastic and metal containers as well as closures business areas for the second quarter of 2020.
Volume demand for plastic containers was up 14 percent for Silgan and metal container volumes rose by 15 percent. Net sales numbers also were up for both units.
Why? Demand from health and hygiene products in plastics, for one, but mostly home cooking.
"It seems clear that consumption pattern is [changing]. We're eating at home more," Adam Greenlee, president and chief operating officer, said during a quarterly call with analysts on July 22. "It was always restaurants that were our main competition. This is a fundamental shift. … We think there will be a more sustained trend for home consumption."