Mintel Says Global CPG Innovation Reaches Record Low
The Global Small Business Blog
OCTOBER 17, 2024
©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.
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