The UK food and drink industry wants greater innovation from its packaging suppliers to support its expansion plans according to research by the organisers of the easyFairs Process, Pack & Track Food shows being held this month and next.
Questioning of over 100 leading UK food and drink manufacturers revealed a sector with ambitious plans over the next year. Over 65% of companies questioned plan launching new products, 45% to move into new markets and a quarter to expand overseas sales. To deliver these plans 25% say they will forge a strategic alliance, one in ten anticipate expanding their current site and 10% expect to merge with or acquire another company,
The study suggests, however, that companies are also looking to the packaging industry to help them; 45% want to cut materials use, 40% need to speed up their packing lines, over a third want to introduce a new, “innovative” pack format and 30% say they are looking to packaging to provide greater product differentiation.
While over half reported feeling the heat from cheaper overseas competition and are consequently seeking cost reductions, only 39% say their budget is inhibiting their packaging innovation. Well over a third would like “much greater innovation” from their packaging suppliers, with 12% feeling they are “too complacent”.
easyFairs Process, Pack & Track Food South takes place at Sandown Park, Esher from 24-25 May, and Process, Pack & Track Food North at Bolton’s Reebok Stadium from 14-15 June. Each will feature over 60 exhibitors spanning production areas ranging from packaging and waste management to traceability.
