With a high number of startups rising, CPGs need to pursue something that sets them apart, having technology as their ally. Innovation in packaging is a valuable differentiating factor new and already established companies can adapt for capturing the attention and meeting consumers demand.
There has been a major shift in consumer and cultural thinking towards sustainability, with many of them responding with alarm to the shocking statistics about packaging's environmental impact.
Many companies are already responding to this demand with more sustainable options in terms of innovative packaging solutions that range from bioplastics, mushroom cardboard, smart packaging, compostable packaging, refill stations, among many others.
Additionally to consumer’s demand, regulation has also been introduced in recent years. EU has introduced a tax on non-recyclable plastic packaging waste (€0.80/kilogram), pushing companies to act as soon as possible.