Mintel Says Global CPG Innovation Reaches Record Low

©iStock/JackF

Over the first five months of 2024, only 35% of global CPG launches were entirely new products, the lowest percentage since Mintel started tracking new products in 1996. The other 65% of launches, according to new insights from Mintel, were renovations — reformulations, line extensions, new packaging and so forth.

As inflation eases and consumers regain confidence, demand for innovation is likely to increase.  

from The Global Small Business Blog https://ift.tt/SdVFrp5