As the world continues to combat the effects of climate change, many people have been shifting their values to drive more sustainable and eco-friendly consumption habits. A recent consumer insights survey conducted by PwC reported that Canadians are concerned about excessive packaging and are willing to pay a premium for products that are local, organic, as well as ethically and sustainably sourced and produced. Thankfully, there is an increasing variety of ethical and sustainable alternative packaging solutions becoming available.
As consumers become more concerned about the most significant environmental issues, many businesses will need to shift their packaging materials to meet the needs of their customers. Based in Vancouver, Evanesce Packaging Solutions is one of the leading environmentally-friendly packaging solutions on the market. It is also one of the portfolio companies of Billy Goat Brands (CSE:GOAT) (“GOAT”) and is a sustainable packaging disruptor that has accelerated the adoption of green packaging while redesigning standard disposable food containers.
In the aforementioned survey, PwC determined that high-income earners and Generation Z are willing to pay more for environmentally sustainable products. Single-use plastics have been a catastrophe for the environment, especially for our oceans. Packaging that reduces the environmental impact, and its ecological footprint, is what consumers are looking for.
How will eco-friendly food packaging meet the demand of consumer needs?
Evanesce sees the need to create a circular economy, by challenging how we consume, and reducing the amount of waste created by single-use plastic packaging and disposable food containers. The rise of single-use plastic waste, and the harmful effects of microplastics on our oceans, continues to contribute to climate change. To combat this, Evanesce developed an innovative patented technology – Evanesce’s Molded Starch Technology is 100% compostable and made from plant-based products. The technology is used to make eco-friendly food containers, meal trays, meat trays, and cups. Evanesce’s eco-friendly food packaging is engineered to maintain the health of the planet, while making a global impact on reducing single-use packaging waste.
When it comes to food and grocery purchasing decisions, many consumers are willing to pay a premium for products that are local, organic, as well as ethically and/or sustainably sourced. Canadians are also concerned about excessive packaging and are more willing to pay a premium for local products with a smaller ecological footprint.
The sustainable packaging market is expected to reach USD 470.3 Billion by 20271, as Millennials continue to drive the need for sustainable packaging materials. This presents a large opportunity for the food and beverage industry to develop packaging solutions that will be much less or not at all harmful to the environment. Factors like the growth of recyclable and reusable materials will support many innovative technological advancements in the industry, and support from governments is shaping the future of environmentally friendly packaging.
Accordingly, Evanesce recently announced the opening of its new manufacturing plant in South Carolina, which is expected to produce millions of biodegradable straws per year. Evanesce continues to work towards creating more sustainable consumption habits by consumers, while ensuring the environment is always top of mind.
GOAT has a minority interest in Evanesce and is committed to supporting Evanesce’s vision of becoming the leading sustainable packaging solutions provider for the food and beverage industry. GOAT offers its investors a diverse portfolio of expansion-stage companies focused on the ocean economy, while ensuring that all investments incorporate environmental, social and governance values.
What is the most eco-friendly packaging?
With the variety of eco-friendly packaging options on the market, cardboard and other recycled forms of paper products have been known as the most environmentally and sustainable packaging.
What are eco-friendly food packaging materials?
There are many types of plastic packaging alternatives that are eco-friendly and recyclable. A few common eco-friendly packaging alternatives are:
- Glass packaging
- Metal packaging
- Recycled paper packaging
- Plant-based packaging such as sugarcane, bamboo, and rice husk
With the consumer demand for eco-friendly packaging and reduced plastic packaging increasing, businesses will need to continue to look at sustainable alternatives to keep up with the use of single-use packaging materials.
Evanesce uses 100% plant-based fibres to make their biodegradable food containers, all Evanesce’s products are 100% compostable in 90 days using a patented Molded Starch Technology that’s cost competitive.
What is sugarcane packaging?
Sugarcane is used as a plastic packaging alternative. Sugarcane fibre is used to create sustainable packaging materials, the sugarcane is ethically sources and biodegradable. Sugarcane fibre has many benefits for the packaging and textile industries. Sugarcane packaging is found in many compostable containers in Canada, most seen in single-use to-go coffee cups.
What are ways for food packaging to be sustainable and environmentally friendly?
With the consumer demand for eco-friendly packaging and with the reduction of plastic packaging, businesses have looked to alternative methods of packaging food containers, meal trays, and cups. A few key areas to take into consideration when evaluating an eco-friendly packaging solution are:
- Choosing a local packaging supplier
- Choosing recyclable packaging materials
- Consider smart packaging products that use smart labels
The North American sustainable packaging market has emerged as a profitable market globally. There have been many advancements in product developments in eco-friendly packaging solutions, owing to vast R&D investments and innovations. The best way to maintain a 100% sustainable packaging solution is to consider the circular economy and ensuring all packaging are 100% recyclable and can be reused.
Can bamboo be used for packaging?
Bamboo can be used a plant-based alternative for sustainable packaging. Bamboo is known for its durability and versatility. Bamboo is a grass-type plant-based solution, which has been used for many functions including fabric, food, and homeware. Bamboo is biodegradable and a low-cost solution. Bamboo is grown around the world and easily accessible, and doesn’t require much time, land, or resources for growth.
- (2021). Environmental sustainability becoming a business imperative. PwC. https://www.pwc.com/ca/en/industries/retail-consumer/environmental-sustainability-becoming-a-business-imperative.html