Biodegradable Packaging Market, By Type (Plastic and Paper), By End-Use Industry (Food, Beverage, Pharmaceutical, Personal/Homecare, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

Published In : Mar 2024

Code : CMI395

Pages :170

Formats :

Excel and PDF

Industry : Packaging

Key Developments

In 2023, Pakka introduced India's first compostable flexible packaging, marking a significant milestone in sustainable packaging solutions. This innovative product aligns with the growing global trend towards eco-friendly alternatives to traditional packaging materials. Compostable flexible packaging offers a more environment-friendly option compared to conventional plastics, as it can break down into natural components when composted, reducing the impact on the environment.
Tetra Pak's partnership with the FINISH Society in June 2021 aimed to enhance the collection of used carton packages in Udaipur, Rajasthan, India. This collaboration involved FINISH Society working alongside the Municipal Corporation of Udaipur to retrieve used juice or milk cartons from the corporation's sorting centers for recycling. Additionally, Tetra Pak and FINISH Society focused on educating the waste-picker community about the importance of collecting and selling used beverage cartons to recyclers.
The joint venture agreement between Karat Packaging Inc. and Happiness Moon, Co. Ltd. in April 2022 marked a significant step towards sustainable manufacturing in Taiwan. The collaboration aimed to establish a new factory dedicated to producing compostable foodservice products using bagasse, a byproduct of sugarcane processing. This initiative not only promotes eco-friendly alternatives to traditional plastic food packaging but also supports the circular economy by utilizing agricultural waste in the production process. By investing in the manufacturing of compostable products from bagasse, Karat Packaging Inc. and Happiness Moon are contributing to reducing plastic waste and fostering a more sustainable approach to food packaging in the region.
In March 2022, Mondi, a global packaging and paper group, announced a significant investment of US$ 285 Million in corrugated packaging. This investment was aimed at accelerating the company's sustainable growth plans. The decision to invest in corrugated packaging, which is a sustainable and recyclable material, aligns with Mondi's commitment to environmental sustainability and its overall strategy to grow in packaging.