Packaging companies to invest heavily in research and development

Packaging companies will substantially increase investment in Research & Development (R&D) over the next five years, meaning an R&D arms race may emerge as companies seek to develop ever more unique and novel pack designs, according to consumer insight firm Canadean (canadean.com).

An industry survey by Canadean has found that industry executives worldwide expect R&D to benefit from the most investment between now and 2021, beating investment in manufacturing equipment and improvements in distribution and logistics. However, packaging companies risk under-investing in data analytics, a crucial tool for ensuring success in new product development.