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News & Press: Industry

Survey: 75% of CPG Companies Plan to Spend More on Packaging

Monday, May 13, 2019   (0 Comments)
Posted by: Alyce Ryan
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Dive Brief:

  • A survey of 250 brand owners in the CPG industry found 75% expect to increase their spending on packaging during the next year, according to L.E.K. Consulting. That's up from the past two years, the company added, as 65% in 2018 and 40% in 2017 said they would be increasing spending. Almost one-third of them plan to hike their packaging budget by more than 10%.

  • The survey also found 90% believe packaging is crucial to their brand's success, L.E.K. Consulting said. As a result, 57% are developing packaging that's easier to open, 51% are working on more single-serve sizes and 49% are increasing placements in new distribution channels such as convenience stores.

  • "CPG brand owners recognize consumers want more convenience, and companies are looking to packaging to help provide it," Thilo Henkes, managing director and co-author of the study, said in a release. "This will entail some major changes to packaging, and CPGs are responding and investing." 

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