Product Innovation Heating up in 2024: Is Your Brand’s Packaging Ahead of the Curve?
A recent R&D and Product Innovation in the Food and Beverage Industry survey by TraceGains revealed that 76% of the global food and beverage leaders surveyed are planning to increase their new product development spend in 2024, a 12% jump over last year. According to the report, rising environmental social governance (ESG) awareness is one of the factors fueling innovation, with 48% of leaders believing that sustainable packaging will be a large innovation driver in the months ahead.
With increasing consumer demand for sustainably packaged products, more and more brands are rethinking their packaging strategies and focusing on getting ahead of the packaging innovation curve with eco-friendly packaging solutions.
Brands want to accelerate packaging innovation – but there are some challenges. Research by Industrial Physics found that while the overwhelming majority of food and beverage packaging professionals (96%) feel that it is important for companies to explore new packaging developments, two of the biggest challenges in packaging innovation are current testing standards (71%) and the high cost of expertise (62%). Survey respondents cited waste reduction (57%) and sustainability (55%) as two of the top goals for packaging innovation.
Source: Industrial Physics
To succeed in an increasingly competitive landscape, companies can’t afford to lag behind on packaging innovation. This is especially true when it comes to sustainable packaging innovations. Today, environmentally friendly packaging solutions translate to revenue-enhancing brand value and brand loyalty among a growing number of eco-conscious consumers.
Brands can meet consumer demand for sustainably packaged products without investing in years of expensive R&D and testing. The solution is CCT’s EEASY Lid. CCT has already done the legwork, investing in eight years of R&D and rigorous testing to develop the world’s first aluminum lug jar lid – a completely new product that is setting a new precedent for sustainability in the packaging industry.
The recyclable EEASY Lid protects the quality and safety of jarred products while elevating sustainability and brand appeal.
The first jar lid innovation in nearly 80 years, the EEASY Lid not only encompasses sustainability but provides an unprecedented level of accessibility as well. Uniquely designed to make jars up to 50% easier to open, the accessible EEASY Lid allows brands to enhance the consumer experience and stand out on grocery store shelves.
The EEASY Lid puts companies ahead of the packaging innovation curve with a ready to go, cutting-edge sustainable and accessible packaging solution. Don’t lag behind on packaging innovation, contact us today.