With the emergence of technologies such as blockchain, companies in consumer goods packaging are firming up on adopting the technology as it would otherwise place them at the risk of falling behind their competitors. Governments of European countries such as France are working towards increasing the costs of non-recycled plastic based consumer goods packaging, which in turn may help in eliminating the amount of excessive packaging. Apart from this, Singapore is planning to unbox consumer goods packaging strategy, indicating reduction in the use of packaging materials under SPA (Singapore Packaging Agreement). Major companies such as Nestle, Chinatown Food Corporation to name a few, have signed the SPA, in a bid to reduce the material waste from consumer goods packaging and supply chain.
Consumer Goods Packaging Sales Soar as Multinational Companies Embrace Blockchain Technology
Multinational giants such as Deloitte are of the point of view that integration of blockchain technology in consumer goods packaging and retail businesses can benefit in revolutionizing the industries on a broader landscape. In-depth research shows that four areas within the consumer goods packaging and retail business industry has blockchain technology holding immense potential for easing the pain-points in industries such as stakeholder, flexibility, compliance and traceability management. However, for the supply chain purposes, blockchain technology holds the maximum potential, for short-term basis. Technology consulting companies are witnessing blockchain technology as ‘next big thing’ for the consumer goods packaging and retail businesses, on account of its superior ability for authenticating, recording and tracking transactions.
France to Introduce Penalty System in 2019 in a Bid to Extend Usage of Recycled Plastic for Consumer Goods Packaging
France recently announced the introduction of penalty system that leads to rising costs of consumer goods packaging with non-recycled plastic. This initiative is a major step towards increasing the usage of recycled plastic for consumer goods packaging, which also includes deposit-refund schemes targeting plastic bottles. Under this new plan, consumer goods packaging with recycled plastics would cost upto 10% less, while the consumer goods packaging with non-recycled plastics would cost upto 10% more. The French government is taking immense efforts in increasing taxes on the dipping trash in the landfills, thereby eliminating taxes for the recycling operations of consumer goods packaging. This in turn helps in catering to the rapidly increasing problems regarding tonnes of plastics making its way into oceans.
8 in 10 Fast Moving Consumer Goods Packaging Sales Concentrated in Asia-Pacific, India Likely to Spearhead Demand
Asia-Pacific FMCG (fast moving consumer goods) packaging market is expected to emerge lucrative with rapidly increasing demand for the sustainable packaging products from China and India. Stringent government rules regarding the usage of plastic on FMCG packaging products is expected to be a major driver fuelling the FMCG packaging market in Asia-Pacific. Most of all, growing preference for cheaper plastic based FMCG packaging products further drives demand for sustainable packaging.
FMCG Packaging Demand in F&B Rising as Scramble for ‘Greener Solutions’ Intensifies
Singapore-based F&N (Fraser and Neave) and NTU Singapore (Nanyang Technological University, Singapore) recently entered into four-year collaboration for opening up a joint laboratory in the region. This strategic collaboration is mainly focused at introducing biodegradable FMCG packaging solutions and innovative beverage products for F&B (food and beverage) industry. The collaboration is expected to transform food technology innovations in the industry applications for FMCG.
The strategic collaboration is expected to help in fostering research, resulting in better food products, conversion of wastes that are generated from the processing of foods into valuable resources as well as greener packaging. Most of all, this project helps in enhancing the commitment of the company towards eco-friendly initiatives, thereby benefiting the industry and society as a whole. Rapidly increasing number of greener initiatives by FMCG packaging companies are expected to cater to the nutritional and health needs of the consumers.
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