Smaller package sizes are expected to become a growing trend in several product categories in the near future, according to a new report.
Over the next five years, nearly half of consumer packaged goods (CPG) manufacturers surveyed by London-based LEK Consulting are planning to expand their “price-pack architecture” offerings, such as snack-size and mini-cans of beverages, the company said. Not only do smaller packs attract attention, but they also command higher prices that consumers have shown a willingness to pay, according to LEK, which has offices in six major U.S. cities.
The LEK Consulting findings are based on a survey of more than 200 brand managers and other packaging decision-makers for CPG companies.
Another trend in the market includes an increased focus on sustainability, with 40% of brand owners reporting plans to make packs “greener” in the coming two years. “The packaging landscape is going through a transformation,” said Thilo Henkes, managing director of LEK. “Brand owners have confirmed for us some notable shifts, namely the increase in sustainable packaging and new formats for packaging because of novel new sizes and price-packs.”
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Photo courtesy of Jeffrey O. Gustafson.