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Speeding Up The Pace Of CPG Product Innovation

Source: BIOVIA
Speeding Up The Pace Of CPG Product Innovation

The Consumer Packaged Goods (CPG) Industry relies on continuous product innovation to introduce successful new products and drive business growth. Formulations are the lifeblood of the CPG organization and key to product innovation, particularly when adding new attributes to an existing product can extend that product’s lifecycle as a revenue generator.

At the heart of formulation development is physical testing and the data capture. Physical testing accounts for roughly half the work done by Research & Development (R&D) laboratories. This testing is the basis for thousands of product decisions every day, including whether the product is safe, whether it does what it is supposed to do, and whether it provides a superior benefit to the consumer.