In an article published on May 9, 2019, news provider Food Dive reported on results from a recent survey of 250 brand owners of packaged consumer goods, which found that 75% expect to increase spending on packaging over the next year. This continues an increasing trend, up from 65% in 2018 and 40% in 2017. In a press release, survey operator L.E.K. Consulting commented that “brand owners recognize consumers want more convenience, and companies are looking to packaging to help provide it.” The results show that 57% are working on packaging that is easier to open, 51% on more single-serve packaging sizes.
The environment is noted as one area that brand owners are focusing increasingly on, with “environmentally friendly products” seen as “a top source of growth over the next two years.” 85% of surveyed companies report making “one significant change to packaging substrate material in the past two years, most frequently to increase ease of recycling.” They also expect the value of packaging with biodegradable, recycled, or compostable material to increase by around 1.4 times between the years 2016 and 2022. “All indications are that brand owners consider ongoing investment in packaging to be critical to their brand’s success.”
Cathy Siegner (May 9, 2019). “Survey: 75% of CPG companies plan to spend more on packaging.” Food Dive
L.E.K. Consulting (May 8, 2019). “Huge percentage of brand owners will spend more on packaging, finds news study.” CISION