According to the latest report from the Organisation for Economic Co-operation and Development (OECD), the world is producing 2 times more plastic waste than it did 20 years ago. Only 9% of it is being successfully recycled. In fact, by 2050, the weight of plastic waste in seas and oceans will be more than the weight of sea creatures in them. According to the FCCI report, the Plastic Manufacturing industry in India is expected to produce 22 million metric tonnes (MMT) of plastic in 2022 which is a rise from 13.4 MMT in 2015. Almost half of this production is single-use plastic of which 40% of plastic produced is used for packaging purposes. These figures are alarming. However, with the announcement of a blanket ban on single-use plastic in India, there has been a growing increase in sustainable packaging options. Sustainable packaging is the need of the hour which is the first step towards lowering the negative impact plastic is having on our environment. Consumers are willing to pay more for green while they are also ready to buy more sustainable packaging products. Moreover, the government’s push for compulsory use of plastics with a minimum 120-micron thickness has generated the demand for sustainable packaging. This has led to an increase in demand for renewable raw materials like seaweed, corn starch, organic fabrics, wood, paperboard, paper, and recycled cardboard.
Visit this Page for More Information: Start a Business in Biodegradable Products Industry
How is sustainable packaging achieved?
Sustainable packaging refers to packaging with an environmental footprint that reduces with time. When it comes to packaging, sustainability can be achieved in three ways:
- Materials used: 100% recyclable, eco-friendly raw materials used for packaging.
- Production method: Production process and supply chains with fewer carbon footprints.
- Recyclable: A growing economy with the lifecycle and packaging usefulness extended.
Related Business Plan: GOOD SCOPE IN BIODEGRADABLE PLASTIC PRODUCTS
The best sustainable raw materials for packaging and their market value
Although sustainable packaging is mostly about going green and saving the environment, the social and economic aspects need to be taken into account. Having said that, sustainable raw materials for packaging need to be competitively priced as compared to single-use packaging options so that they can be successfully implemented. Here is a list of the top sustainable raw materials used for packaging.
- Bagasse – This is made from natural sugar cane fibers and is considered an eco-friendly, renewable, and sustainable raw material. Bagasse is gaining popularity as a disposable tableware product that can be composted easily. The bagasse plates market is emerging as a favorite food packaging solution among customers due to its unique features like durability, sturdiness, and a better lifespan. Bagasse tableware products and food packaging material is trendy and excels as a green alternative to polystyrene and Styrofoam tableware products. The global market of bagasse tableware products is set to expand at 6.8% CAGR between 2021 to 2031 as compared to 4.6% CAGR during 2015-2020.
Read Similar Articles: BIODEGRADABLE PRODUCTS
- Corn Starch – Corn starch bags make an excellent replacement and are 30% stronger than polythene bags. Since they are bio-degradable, they are most likely to appeal the environment-conscious consumers. The raw material used is corn which is inexpensive as compared to the expensive synthetic polymer materials produced from petroleum. They are used for polylactic acid (PLA) which is a biodegradable plastic made from fermented corn starch and is completely safe to use with liquids and food products. On average, almost 5% to 7% of corn production in India is estimated to go into starch. This estimate implies an annual production of 1.5 – 2 MMT of corn starch. Hence, the corn starch as packaging raw material is quite sufficient. Till 2018, the Indian corn starch market generated a revenue of around 1.37 billion with an expected rise of 3.9% CAGR during 2019-2025.
- Paperboard – Paperboard packaging is the preferred choice for the packaged food industry which is made from wood pulp as the basic material. Paperboards are recycled in huge amounts to reduce deforestation and waste. It boosts the demand for sustainable packaging options in the e-commerce, retail industry, cosmetics, medical, industrial, food and beverages, both durable and non-durable goods packaging. The paperboard business has experienced good growth in the last 10 years owing to market expansions, an increase in consumer awareness, and a government ban on plastics. The Indian Paper and Paperboard market was valued at USD 10.77 billion in 2021. This is expected to reach USD 15.69 billion by 2027 which registers a 6.63% CAGR during 2022-2027. With this increase, the demand for paperboard packaging is expected to keep increasing due to the rapid increase in retail, supermarket outlets, shopping centers, and demand for processed food.
Click here to send your queries/Contact Us
- Bamboo – Bamboo has become a significant staple raw material in the world of eco-conscious sustainable materials. It is an eco-friendly replacement for plastic, metal, paper, hardwood, and cotton. Hence, it is no surprise that bamboo food packaging presents a durable, renewable, and compostable option for the food industry. Even though bamboo packaging is made from bamboo plants, they are not trees. They are a member of the grass family that is renewable and grows much faster than hardwood. While they are already been used in construction businesses, personal care products, disposable bamboo tableware, and cutlery and packaging solutions are the latest trends. Bamboo has also found a niche in the cosmetics industry as a sustainable packaging raw material for the beauty and cosmetics industries. India is the world’s second largest cultivator of bamboo after China, with 136 species spread over 13.96 million hectares, the annual bamboo production is approximately 3.23 million tonnes. The global paper and paperboard demand was US $390 million tonnes in 2015 which rose to 490 million tonnes in 2020
Related Feasibility Study Reports: Biodegradable Plastic Products (bags, Plates & Glasses)
Some other raw materials for packaging are:
- Polylactic acid (PLA): similar to PETE polymer.
- Edible packaging: made with natural polymers by extracting raw materials from seaweed, algae, polysaccharides, lipids, proteins, and composites. Edible packaging is becoming a regular occurrence with an estimated rate of 6.81% CAGR starting from 2017 to 2023.
Simply put, the easiest way to sustainability is through measurement where all stakeholders can make responsible choices by analyzing data on carbon emissions and other alternatives. This could bring a rapid transformative change, at optimum costs and with no friction in the current value chain. At NPCS, we are able to guide you better with market reasearh reports and analysis data. If you’re a young entrepreneur or a start-up planning to venture in this sector, we can get you started. Check with us the potential market trend in India. Get along with us online through our website.
Click here to send your queries/Contact Us
NPCS provides a project report to entrepreneurs that enables an entrepreneur to become aware of the target customer of their product. It similarly allows in making sound funding choices by listing and then elaborating on factors so that it will contribute to the increase of product intake in a country and additionally talks approximately the overseas exchange of the product together with the list of top importing and pinnacle exporting international locations. The project report includes graphical representation and forecasts of key facts mentioned inside the above-stated phase. It in addition explicates the growth ability of the product.
Read our Books Here: The Complete Book on Biodegradable Plastics and Polymers (Recent Developments, Properties, Analysis, Materials & Processes)
Reasons for Buying NIIR Report:
- Our research report helps you get a detailed picture of the industry by providing an overview of the industry along with the market structure and classification.
- Our report provides market analysis covering major growth driving factors for the industry, the latest market trends and the regulatory framework of the industry.
- Our Report provides an analysis and in-depth financial comparison of major players/competitors.
- Our Report provides indispensable buyers’ data with their company financials as well as the contact details, which can be an important tool in identifying the target customers.
- Our report provides forecasts of key parameters which help to anticipate the industry performance.
- We use reliable sources of information and databases. And information from such sources is processed by us and included in the report.
See More Links:
- Start a Business in Asia
- Start a Business in Potential Countries for Doing Business
- Best Industry for Doing Business
- Business Ideas with Low, Medium & High Investment
- Looking for Most Demandable Business Ideas for Startups
- Startup Consulting Services
- Start a Business in Africa
- Start a Business in India
- Start a Business in Middle East
- Related Videos
- Related Books
- Related Projects
- Related Market Research Reports
DPP_20Art22