Fast-moving consumer goods (FMCG) is one of the industries that very much relying on plastics to support their dynamic activities and create trendy products in order to meet today’s evolving consumer preferences. FMCG, such as food and beverages, personal care products, over-the-counter medicines and so on, are sold quickly in large volumes and have short turnaround time, manufacturers need to be more creative in order to catch the attention of consumers in the midst of extreme competition.
But what makes FMCG more interesting now, aside from the growing choices presented to consumers, is how leading brands in FMCG are moving towards innovative use of plastic materials to enthuse buyers. Globally renowned brands are showing the world that plastics will remain a material of choice but innovative product designs and processes are leaning towards the production of environmentally-friendly products to meet growing consumer awareness.
Majority of FMCG brands continue to prefer plastics in their packaging. Consumer packaged goods, whether food & beverage, consumables and non-durable household goods, continue to enjoy high sales due to huge market demand for these products. In a report revealed in February 2021 by OC&C Strategy Consultants on the world’s 40 largest FMCG companies, it estimates that combined sales of these top 40 FMCG companies reached over US$1.13 trillion in just one year. The data from the report also showed that the market’s biggest players entered the coronavirus crisis in better shape than they had been in for many years, with revenues growing 3.9% in 2019, up from 3.4% in the previous year.
But what are striking about these giant FMCG companies are their efforts towards producing aesthetically appealing, yet sustainable packaging. Many of them have made commitments to reduce the virgin plastics component and raise recycled materials content in their production, a target that is very much in line with the circular economy.
To cite some examples, Nestlé has committed to reduce the use of virgin plastics and also made its water bottles recyclable with target of increasing the use of recycled content (rPET) for these bottles to 50% by 2025. It also announced a US$30 million investment in the Close Loop Leadership Fund to lead the shift from virgin plastics to the use of food-grade recycled plastics.
Procter & Gamble (P&G) has released its sustainability goals for 2030 known as Ambition 2030 where it aims to make its packaging 100% recyclable or reusable through a combination of material choice, package design, and working with partners to develop solutions for more sustainable products such as refillable and reusable products and packaging under the Loop platform.
Beverage giant Coca-Cola has also embarked on sustainable packaging journey with the unveiling of its first-ever bottle made from 100% plant-based plastic, excluding the cap and label, produced based on technologies that are ready for commercial scale. The prototype bottle comes years after its introduction of PlantBottle™, the world’s first recyclable PET plastic bottle made with up to 30% plant-based material.
At CHINAPLAS 2022, the FMCG industry will witness a full range of new materials and high-tech processes to put them on top of competition in a world where fast-changing consumer preferences matter. For more information, visit: www.chinaplasonline.com