Consumer packaged goods are one of the most important industries in the world. From food and beverage to health and beauty, these products play an essential role in our everyday lives. But how do these products make their way from concept to store shelves? The answer lies in product development. Product development is the process of creating a new product or improving an existing one. This process typically involves market research, product design, testing, and manufacturing. In order to succeed, product developers must have a deep understanding of consumer needs and trends. With this knowledge, they can create products that not only meet consumer demands but also stand out from the competition. In today's hyper-competitive marketplace, product development is more important than ever. By understanding the needs of consumers and developing innovative products, consumer packaged goods companies can ensure long-term success.
FMCG companies place high importance on product development because they know that consumer tastes are constantly changing.