What? When? Why?
Latest Happenings in Business World
19
Jul-2019
Incredible Green Packaging Transformations
Green Packaging Market is estimated to grow from USD 223.90 billion in 2018 to reach USD 295 billion in the forecast period of 2019-2024.
Incredible Green Packaging Transformations:
The packaging is enclosing or protecting the product for distributing, storage, sale of any product. It is also referred to the designing and producing packages. Packaging carry, save, preservers, protect, transports and sells. All the companies doing business out their uses different packaging methods and have a different purpose.
Some of the main reason for packaging will be:
- Physical protection of the product - If any company offering a sensitive product which may break by some shock, vibration, compression or by temperature may require packaging accordingly.
- Informative packaging - Packaging, and labeling of any product communicate many things about any product like how to use, manufacturing date, recycle or dispose of, etc. likely company also uses such type of packaging which gives information about the product.
- Marketing - For making the product popular in the market company uses some attractive packaging, which includes graphic design, etc.
- Security - Some company does their business overseas, and for that, they need packaging which will give protection or security to the product.
All these companies are doing business out their need to have attractive packaging, and for that, they may use many things like paper, plastic, wood, iron, etc. as we know packaging is of three types including primary packaging, secondary packaging, and tertiary packaging. To understand this, we will take an example of toothpaste, and the tube packing is the primary packaging, the tube which is then packed in a box is the secondary packaging and lastly when all these cardboard packs of toothpaste will be packed in one big cartons box that is called tertiary packaging.
As we all know, global warming is increases and affecting the environment in many ways, so for protecting the environment, many companies started using green packaging. Green packaging is also called sustainable packaging and eco-friendly packaging, which has a low impact on the environment and energy consumption. Green packaging or eco-friendly packaging can be reused, can be recycled and can be biodegradable. Sustainable packaging is reusable and safe for individuals and the environment. Part of some eco-friendly packaging can be reused again in their actual form, and some are made of the material which is recycled and made into something else or simply decompose in nature.
Why using green packaging?
Of course, looking out for the future of our planet is the first and most important reason for green packaging. We all need to be aware of our actions, and their impact on society and earth and should take some responsibility for those actions. Taking responsibility for our actions and taking any action against it is also helpful for the brand image. Nowadays, consumers are more attractive to green packaging and sustainable practice of any company.
Which type of material is used in green packaging?
Here are some most popular methods or material uses by any organization for packaging-
Paper – The paper could be the best option because paper can be reusable, recyclable and of course biodegradable.
Cardboard – cardboard can also be reusable like a paper.
Some plastics:
Protective padding – Bubble wrap is the best example of this type of packaging. It cannot be recycled or biodegrade but can be reuse. I mean what would be the best alternative for the glass or any product which can be break easily. Some of the bubble wraps are now made up of biodegradable plastic.
Packaging tape – paper packaging tape is also available in the market nowadays; you can use those tapes to seal your boxes. And these tapes are reusable.
There are some popular companies who are using unique eco-friendly packaging-
IKEA - Ikea bought mushrooms in their search for a biodegradable packaging alternative. Outer shell and roots of a mushroom consist of mycelia which are then mixed with oats to form a solid packaging material.
Veuve Clicqute - It is a luxury champagne company that started using potatoes as their product packaging. Potato starch is used for packaging.
Woolcool- Woolcool has started to produce sheep wool-based insulated packaging.
American Chemical Society - American chemical society is in the process of developing a biodegradable, edible packaging product made from milk proteins.
Whole Tree - They are come up with a plan to reuse coconut husks as a packaging alternative to plastic. Coconut husks are rich in lignin and come with natural burn resistance.
Coca-Cola - Coca- Cola has also started a campion in America called to give it back where they are trying to collect all the sold-out cans for recycle and currently, they are producing biodegradable bottles.
Fact & Figure:
Green Packaging Market is estimated to grow from USD 223.90 billion in 2018 to reach USD 295 billion in the forecast period of 2019-2024. Taking the environmental impact caused by plastic bottles into consideration, many leading companies using recycled material for their packaging, thus boosting the market growth.
- Environmental concern among the consumer and industries is increasing the growth of the market.
- Due to the increasing awareness about nature, sustainable packaging is in trend among the leading manufacturer.
- The use of advanced technologies for developing sustainable packaging material is also considered as market growth.
- Increasing environmental awareness among the people of both developed and developing regions helps in market growth.
Conclusion:
Lastly, green packaging is all about using packaging which is not harmful to the environment and any individual. Nowadays green packaging is most popular in the market and among the customers. Using a packaging material that is reusable, recycled and biodegradable has a low impact on nature and energy consumption.
WRITTEN BY: Disha Bhatt
Disha Bhatt is a management student at RIIM Pune. She worked as a Research Associate (intern) in Market Data Forecast, One of the world’s leading research and consulting for various business domains, individuals and corporate clients.
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