18 May 2023 --- At the Rethinking Materials Innovation and Investment Summit, which concluded yesterday in London, UK, Aquapak CEO Mark Lapping detailed the findings of a new report that appears to show the European packaging industry is hitting a turning point on environmental sustainability investments.
The report, titled “Sustainable Packaging in Europe: The Drive for Change,” shows that industry stakeholders are increasingly shifting the balance of materials they plan to use in the future.
The findings are drawn from research by packaging experts in the UK, Italy and Germany, revealing that 62% expect their company to increase budgets for alternative packaging materials such as fiber-based and bioplastics over the next five years, with a further 23% expecting to see budgets increase “dramatically.”
Speaking to PackagingInsights, Lapping says Aquapak used the summit to “gain information and collaborative opportunities. We recognize how important it is that the industry works together to accelerate change,” he says.
Innova Market Insights listed ”Plastics Circularity” as its top trend for 2023, noting that 61% of global consumers believe the increased use of plastic packaging is necessary – although perhaps undesirable – since the COVID-19 pandemic for safety reasons.
Barrier coating developments are aiding industry stakeholders in transitioning toward alternative materials such as bioplastics.At the same time, consumers don’t want to be misled. The market researcher flagged that environmental claims like “carbon impact,” “reduced packaging,” and “plastic-free” on F&B packaging have almost doubled (92%) since 2018. However, the proliferation of sustainability messaging has created fears of unsubstantiated claims.
Study findings This rise in industry funding presented in the study includes the predicted increase in the use of multi-material (a combination of paper and plastic), new polymers and paper over the next five years, while the use of PE is set to decline.
The study shows that when it comes to the three of the most common packaging materials, the majority (83%) of respondents expect to increase the use of multi-material across their product portfolios and almost three quarters (72%) will make more use of paper over the next five years.
Regarding new materials, 69% and 65% anticipate greater use of new polymers, such as polyvinyl alcohol and bioplastics, respectively, in their packaging material. These trends are similar over a ten-year horizon, according to the findings.
The data also shows the use of PE is set to see a decline over the next five years, with 45% of respondents seeking to use less of the material across their product portfolios.
Regarding the most important attributes of the packaging material used, product protection is the key feature, with barrier properties, shelf life extension and functionality (ease of use for the end-consumer) regarded as more important than recyclability. Read more here >>> https://www.packaginginsights.com/news/rethinking-materials-summit-aquapak-signals-european-turning-point-as-barrier-coating-rd-advances.html?utm_source=Newsletter&utm_medium=email&utm_content=18+May+%7C+Rethinking+Materials+Summit%3A+Aquapak+CEO+signals+European+industry+turning+point+-+Notpla+joins+Bidfood+Catering+Supplies&utm_campaign=2023-05-18+-+PI+Daily
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