Innovation, a pending issue in food and beverage packaging

Innovation in beverage and food packaging is the unfinished business in this sector, according to a recent report by Industrial Physics. Internal operations and day-to-day operations take time away from working more specifically on innovation.

This report, entitled “Exploring Innovation in 2023” and published last year, found that the majority of packaging professionals in different sectors, such as food and beverage, were overwhelmingly supportive of innovation and considered it important to be aware of new developments in this field. This reflects a general trend in the industry and in the media, where there is a race to be a pioneer in innovation and consequences for those who do not. But what exactly is happening in the food and beverage packaging industry?

According to the experts, just over one-fifth (22%) of respondents say that their company does not usually follow up on its innovative ideas. According to Industrial Physics, this happens due to several factors.

On the one hand, because of the skill and magnitude of the company. When asked about their business situation in the last five years, almost half of the respondents (47%) answered that they had to carry out layoffs. This figure is higher among U.S. respondents, at 58%, compared to an average of 44% in Europe and 45% in Asia. Experts suggest that this may be because companies are using technology to streamline operations or to save money by reducing staff.

On the other hand, the possibility of acquiring knowledge or skills through participation in an activity or event.

Industrial Physics, highlights in this report the importance of experience in the innovation process. It was found that 35% of professionals working with organic materials consider lack of experience as an obstacle to innovation. To overcome this knowledge gap, 61% of U.S. respondents seek external support to innovate, while only 39% in Germany do so. However, Americans have greater confidence in their internal expertise to drive growth and innovation.

In a recent report, Steve Davis, global director of product management, noted that in the United States they tend to opt for more dynamic operations, which could lead them to seek a partner. They are often aware of their limitations and seek support from external partners in the short term rather than hiring long-term staff.

Technology yes, innovation no

In addition, companies have allocated part of their budget to the acquisition and implementation of new technologies. This investment seeks to improve internal and external processes, optimize the use of resources and increase competitiveness in the market. The company expects a positive long-term return from this decision.

The exploration that Industrial Physics concluded that 60% of experts with more than five years of experience in their positions claim that their company is adequately investing in new technologies, while only 47% of those with less than five years think the same.

According to specialists, this could be due to experience and the desire to explore new options. However, given the diverse application possibilities between the two technologies highlighted in the research – data acquisition and data analytics – it is important to ask what kind of advice and training should be provided to ensure that companies make informed decisions and do not miss potential efficiency opportunities.

The ability to act quickly and seize opportunities to implement new ideas or breakthroughs in the field of innovation is positively highlighted.

So what implications will this have on innovation in the coming years?

Despite the challenges related to these aspects, there is a possibility of progress in terms of innovation, with 41% of experts stating that their companies have plans to adopt an innovative approach in the next three years. In addition, organizations must conduct thorough planning and evaluation of their internal operations to make careful and thoughtful decisions about which innovation opportunities to take advantage of. Ultimately, this helps ensure the quality and safety required in all industries.