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Startup companies will continue to shake up the food and beverage industry in 2019, with the powerful pull of local sourcing helping them to successfully compete against the major players, according to Innova Market Insights.

Two in five US and UK consumers say they prefer small brands because smaller companies are more dedicated to their products and have a personal story, according to Innova.

New food and beverage launches tracked with a social ethical claim rose more than 20 per cent globally in 2017, the market researcher says.

Big companies, meanwhile, are going small in their strategy, with the power of local inspiring the food giants to initiate startup investment strategies to help them tap into the thought leadership of the entrepreneurial crowd.

Several multinationals including Kraft Heinz, General Mills, Nestle, Danone, Unilever and Kellogg have launched incubators and accelerators with this in mind.

Packaging News

Global metal packaging manufacturer Jamestrong opened a new $15 million, future-proofed, can making facility in Auckland, New Zealand last night, catering to the burgeoning infant formula market. PKN was there.

Full year results for packaging giant Orora have with underlying net profit after tax (NPAT) up 4 per cent to $217m, earnings before interest and tax (EBIT) 3.7 per cent higher to $335.2m and earnings per share (EPS) up 3.7 per cent to 18 cents per share.

Pact Group has cited the drought, weaker demand from the agri and food & beverage sectors, and higher raw material and energy costs as contributing to the FY19 loss.