PARIS — Packaging companies are wrapping up the key to the future success of their sector in one word: innovation.

Executives claim that creativity is essential to boosting business and developing the industry. "Innovation is the new currency," said Marc Rosen, president of Marc Rosen Associates in New York. And, while price remains an important issue, "[it] is no longer the only way to compete," continued Rosen, who will lead a panel discussion on innovation later this month at the Luxe Pack trade show in Monaco.

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