Eka Global allocates 1.5% of total revenue for eco-friendly packaging R&D

Tuesday 16 February 2021 11:24
Eka Global, a leading longevity packaging producer, committed 1.5% of total revenue for research and development to create innovative and green packaging. The investment plan will enable the company to better serve the rapidly growing eco-friendly food and drink packaging market which is expected to reach 13 billion - 16 billion baht, or 8-10% of the food and drink packaging market, in the next five years.
Eka Global allocates 1.5% of total revenue for eco-friendly packaging RD

Mr. Chaiwat Nantiruj, Group CEO of Eka Global Co., Ltd., said that environmentally friendly food and drink packaging business had a great potential for expansion because of the rising environment conscious consumer trend and the government's policy to promote investment and production of alternative packaging as a means to reduce waste in a sustainable manner. The eco-friendly food and beverage packaging market is, therefore, likely to expand rapidly to reach 13 billion - 16 billion baht in value by 2025, representing 8-10% of the total food and drink packaging market.

In 2020, the eco-friendly food and drink packaging industry grew significantly by 25% from 2019 to 2.1-2.4 billion baht. It is expected that its market share would increase to approximately 2% of the total food and drink packaging market. This strong growth trend will continue in 2021.

"Packaging production today has changed significantly," said Chaiwat. "The preferred packaging today not only have to have good design and high durability, but must also answer the changing consumers' needs in terms of safety and social value. This is the point that all food producers, both big and small, have to be aware of because the global trend is shifting towards recycled plastic and bioplastics, which are the sustainable solution of the future."

Considering this trend, Eka Global has allocated 1.5% of total revenue budget for R&D in order to increase the company's capability to invent innovative longevity food packaging products that provide the sustainable solution. At the same time, such innovations will equip local SMEs with greater capability to compete in the global market and become more successful in exporting their products to overseas markets. In addition, Eka Global will also pay attention to packaging with modern design and environmental friendliness.

SMEs interested in Eka Global's longevity packaging and packaging that supports Modified Atmosphere Packaging Process (MAP), can call 038-574-187 or click www.eka-global.com for more information or join Eka Global longevity packaging test program which will continue throughout 2021.

Source: Make A Wealth Consulting