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MARKETING

Pandemic had positive impact, fueled growth of biodegradable pkg market
Monday, 20 June, 2022, 08 : 00 AM [IST]
Our Bureau, Mumbai
Rise in environmental concerns and consumer inclination toward utilising products that are environment-friendly led market players to bring innovation in packaging. The development of biodegradable packaging solutions and utilisation for the product lines are accelerating as the efforts toward sustainability rise considerably. Market players have been making huge investments in development of manufacturing plants of biodegradable packaging. In addition, they have been developing new packaging materials from agricultural waste. Beer manufacturers, tea producers, and other manufacturers from the food & beverages sector began adoption of biodegradable packaging solutions for their products. The industry as a whole is heading toward such eco-friendly solutions. According to a report published by Allied Market Research, the global biodegradable packaging market is expected to grow considerably over the next few years. Following are some of the trends taking place across the globe:
 
Investments for building biodegradable packaging plants:
Market players have been investing considerably in building packaging plants in different countries. This strategy has been adopted by taking environmental concerns into consideration along with expanding the presence into various regions. Hotpack Global, one of the leading food packaging manufacturers based on U.A.E., planned to invest nearly 350 million dirhams ($95 million) over the next decade. The company plans to build 10 manufacturing facilities for biodegradable packaging. It partnered with Free The Seed, the Malaysian manufacturer of biodegradable products. Moreover, Malaysian Bioeconomy Development Corp. facilitated the entry of the U.A.E.-based firm in the country.

The company’s manufacturing plant will become the first biodegradable packaging plant in the Southeast Asian region. This plant will produce nearly 70 million units of packaging for fast moving consumer goods products every year. Other plants will be built over the next decade and lead to increase in usage of biodegradable packaging in different sectors.
More and more companies are lining up their investments in development of biodegradable packaging products. Rohrer Corporation invested massively in development of new environment-friendly packaging solutions, All-Paper Blister and ecoCombo.The theme of The Earth Day 2022 was Invest in Our Planet. Building upon this theme, the company invested in development of packaging solutions and aimed to speed up the efforts regarding sustainability. The company highlighted that it also aims to help the environment and accelerate reforestation efforts.
 
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