Opportunity Overview: Reducing Packaging Waste
The food and agribusiness sector is faced with a number of challenges and opportunities related to demand, supply, innovation, and regulation that will shape the evolution of the sector over the next 5-10 years.
This opportunity is targeted at the potential to reduce plastic packaging waste. Plastics is the fastest growing segment within sustainable packaging. However, it is estimated that 95 percent of plastic packaging material value is lost after a short first-use cycle. This amounts to US$80-120 billion (A$107 – 60 billion) of value loss in economic terms. Most plastics have applications linked to the food industry, the most popular being Polyethylene Terephthalate (PET) that is used to manufacture soft drink bottles and containers used for takeout orders.
Reducing packaging waste can be broken down into several sub-segments. To understand more please read the Reducing Packaging Waste chapter within the Size of the Prize: An Overview of 16 Opportunities for Australian Food & Agribusinesses.
Reducing Packaging Waste Opportunity Overview
Size of the Prize Full Report