Trend Micro Reports Solid First Quarter 2019 Results
Reading Time: 6 minutes
Continued double-digit growth at constant currency in hybrid
infrastructure protection drives company’s results
TOKYO–(BUSINESS WIRE)–Trend
Micro Incorporated (TYO:
4704; TSE:
4704), a global leader in cybersecurity solutions, today announced
earnings results for the first quarter of fiscal year 2019, ending March
31, 2019.
In Q1 2019, Trend Micro grew net revenue of its enterprise business by 7
percent year-over-year at constant currency, fueled by strategic growth
of its hybrid infrastructure protection business at 10 percent gross
sales growth rate at constant currency. This further solidifies the
company’s leading position in securing organizations across the globe.
“Our continual innovation and consistent growth in securing hybrid
infrastructure environments aligns with the rapid adoption of cloud
platforms and more agile development processes that we are seeing across
organizations today,” said Eva Chen, chief executive officer for Trend
Micro. “Not only are IT infrastructures shifting to the cloud, but
networks are extending to encompass operational technology (OT). We are
developing solutions and partnerships to capture the tremendous
opportunity related to securing these critical, highly connected
environments.”
For the first quarter, Trend Micro posted consolidated net sales of
39,472 million Yen (or US $357 million, 110.26 JPY = 1 USD). The company
posted operating income of 9,308 million Yen (or US $84 million) and net
income attributable to owners of the parent of 6,899 million Yen (or US
$62 million) for the quarter.
The company will not revise expected consolidated results for the full
fiscal year ending December 31, 2019 (released on February 14, 2019).
Based on information currently available to the company, consolidated
net sales for the year ending December 31, 2019 is expected to be
168,600 million Yen (or US $1,532 million, based on an exchange rate of
110 JPY = 1 USD). Operating income and net income are expected to be
38,000 million Yen (or US $345 million) and 28,700 million Yen (or US
$260 million), respectively.
Growth rate figures are calculated from Japanese Yen results. Some
discrepancy may therefore be noted in US Dollar comparisons owing to
fluctuations in currency conversion rates.
Relevant business updates in Q1
New solutions to secure the connected world:
For businesses, securing today’s world extends beyond the connected
devices being added to corporate environments to the hybrid cloud
environments at the core of corporate IT infrastructure. Trend Micro is
proud that its telecom IoT security solution, Virtual Network Function
Suite (VNFS), has been certified as VMware Ready. This designation
verifies the compatibility of the Trend Micro solution to secure modern
networks that are built to support 5G and IoT.
Over half a million customers around the world rely on Trend Micro’s
solutions and its comprehensive threat intelligence. In Q1 2019, Trend
Micro released its IoT Security 2.0 solution to enhance end user
protection, as well as support device makers. The Internet of Things
(IoT) market continues to grow, making built-in security increasingly
important. Trend Micro’s IoT Security 2.0 helps manufacturers and
managed service providers improve the security of their products to
better secure the connected world.
Trend Micro Consumer Connect enables telecom providers to add a layer of
security across their networks to help stop threats before they
compromise a smart home or mobile device. The comprehensive security
suite is designed to protect customers’ entire digital life against both
known and unknown threats by providing a virtual security layer across
devices.
Expanding partnerships to solidify position in IoT security:
Trend Micro views partnerships as one of the critical means to securing
the world’s digital information, especially in today’s IoT world. This
past quarter, Trend Micro announced several partnerships to complement
its cybersecurity solutions. Those partnerships include:
Trend Forward Capital hosted the second pitch-off competition for
startups during the 2019 Consumer Electronics Show. The competition
awarded $60,000 USD total to six start-up organizations that proved to
be the most promising and innovative.
Furthering its IoT security offerings, Trend Micro partnered with
Chunghwa Telecom (CHT) to launch a mobile IoT information security
service. The service leverages the real-time detection and information
of CHT combined with Trend Micro’s VNFS to detect suspicious connections
and attempted attacks on CHT’s mobile network.
Trend Micro also joined forces with the Japanese National Centre of
Incident Readiness and Strategy for Cybersecurity (NISC), signing a
collaboration agreement for global threat intelligence sharing. Trend
Micro will provide threat information to the NISC until December 31,
2020 to support the global eradication of cybercrime.
To make the digital world safer for everyone, Trend Micro encourages
better awareness of cybersecurity and online privacy issues. One way
this is done is through the company’s Internet Safety For Kids And
Families (ISKF) program, which launched the annual What’s Your Story
video contest, offering $10,000 to students who answer one question –
“If you had one special power to make life online better, what would it
be?” Interested participants work to answer this question in a creative
video, with the chance of winning one of several prizes.
Trend Micro Research fuels global threat intelligence:
Trend Micro prides itself on having the world’s most advanced global
threat intelligence. The company’s research is focused on helping
customers and the industry anticipate and analyze potential threats
across global enterprises. Trend Micro approaches research with a clear
view of the changing infrastructure and threat landscape and, as
importantly, changing user behaviors. This past quarter we shared the
following research insights:
Trend Micro’s Zero Day Initiative (ZDI) held its annual Pwn2Own
competition in Vancouver. The event welcomes the world’s leading
vulnerability researchers to demonstrate their skills by exploiting
leading enterprise software and applications. This year’s contest
expanded into new territory with an automotive category. In total,
$545,000 USD was awarded to researchers for their research in Apple
Safari, Microsoft Edge and Windows, VMware Workstation, Mozilla Firefox,
and automotive category.
Trend Micro Researchers uncovered security risks facing connected
industrial machinery, specifically those using radio frequency (RF)
remote controllers. The team disclosed new vulnerabilities via the ZDI
and demonstrated how these vulnerabilities can be exploited to take
control of industrial machines, including cranes.
Through a commissioned survey, Trend Micro discovered that one third of
cybersecurity staff members across multiple countries feel isolated from
their overall business. This is partly due to the challenge of
effectively communicating security threats and needs internally and at
the board level.
The survey also shows that nearly 50 percent of organizations surveyed
lack the necessary talent to maintain security measures. To deal with
the skills shortage, 69 percent of organizations agree that automating
cybersecurity tasks using Artificial Intelligence (AI) would reduce the
impact from the lack of security talent.
Additionally, a separate commissioned survey found that 80 percent of
U.S. businesses expect a critical breach this year. This survey drives
the company’s Cyber Risk Index, which determines the overall cyber risk
of organizations based on the discrepancy between perceived and actual
cyber risk, as well as what risks are of highest concern for companies.
The company’s annual security roundup report for 2018 revealed that
changes in the threat landscape are forcing businesses to reprioritize
their security measures to remain effective. The growth of
cryptocurrency mining and continued increase in phishing attacks are the
biggest indicators of how the threat arena is changing. Companies must
adjust defenses to ensure they are protected against today’s greatest
threats.
Digging deeper into phishing and other high-risk email threats, Trend
Micro looked at everything blocked by its Cloud App Security tool. In
2018, the tool blocked nearly 9 million high-risk emails. The high
volume of email threats blocked highlights the importance of investing
in multi-layered protection for online platforms like Office 365.
Trend Micro Research also released a report detailing the serious
business risks that stem from smart buildings. In Complex IoT
Environments, automation platforms are introducing new opportunities for
both physical and digital compromise. This research, along with a deep
dive into cyber risks in agriculture, were both presented at the 2019
RSA Conference.
Patents
Trend Micro was awarded the following patents in Q1 2019:
| Patent No. | Issue Date | Title | ||||
| 10169581 | 01/01/2019 | Detecting Malicious Code in Sections of Computer Files | ||||
| 10169628 | 01/01/2019 | Scanning Image Codes in Virtual Mobile Infrastructures | ||||
| 10243989 | 03/26/2019 | Systems and Methods for Inspecting Emails for Malicious Content | ||||
| 10243988 | 03/26/2019 | Configurable Network Security | ||||
Notice Regarding Forward-Looking Statements
Certain statements that are made in this release are forward-looking
statements. These forward-looking statements are based on management’s
current assumptions and beliefs in light of the information currently
available, but involve known and unknown risks and uncertainties. Many
important factors could cause actual results to differ materially from
those expressed in forward-looking statements. These factors include:
-
Difficulties in addressing new threats and other computer security
problems -
Timing of new product introductions and lack of market acceptance for
new products -
The level of continuing demand for, and timing of sales of, existing
products - Rapid technological change within the security software industry
- Changes in customer needs for security software
-
Existing products and new product introductions by competitors and
pricing of those products - Declining prices for products and services
-
The effect of future acquisitions on our financial condition and
results of operations - The effect of adverse economic trends on principal markets
-
The effect of foreign exchange fluctuations on our results of
operations - An increase in the incidence of product returns
- The potential lack of attractive investment targets and
- Difficulties in successfully executing our investment strategy
-
New and potentially unforeseen risks and liabilities associated with
the internet of things, the use of artificial intelligence in our
products and services, and other emerging technologies
About Trend Micro
Trend Micro Incorporated, a global leader in cybersecurity solutions,
helps to make the world safe for exchanging digital information. Our
innovative solutions for consumers, businesses, and governments provide
layered security for data centers, cloud environments, networks, and
endpoints. All our products work together to seamlessly share threat
intelligence and provide a connected threat defense with centralized
visibility and control, enabling better, faster protection. With more
than 6,000 employees in over 50 countries and the world’s most advanced
global threat intelligence, Trend Micro secures your connected world.
For more information, visit www.trendmicro.com.
All product and company names herein may be trademarks of their
registered owners.
Contacts
Investor Relations Contact:
[email protected]
+81-3-5334-4899
Media Contact:
Kateri Daniels
[email protected]
+1
817-522-7911
TORONTO and GLIL YAM, Israel, Oct. 2, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company“, “IMCannabis“, or “IMC“), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that the preliminary sales results in Germany by its German subsidiary, Adjupharm GmbH (“IMC Germany“), for the third quarter of 2024 have significantly exceeded expectations, showing a remarkable 50% increase in revenue compared to the second quarter, where IMC Germany sold about CAD$ 3.5M. This outstanding growth demonstrates IMC Germany’s successful execution of its strategic initiatives and strong market demand for its products.
Since the partial legalization of cannabis in Germany came into effect in April 2024, the demand for cannabis products in pharmacies has increased significantly, emphasizing the importance of a robust, reliable supply chain.
“Since April 1st, one of our key objectives was to ensure a supply chain strong enough to meet the increase in demand. This preliminary 50% growth is testament, in part, to delivering on this objective,” said Oren Shuster, CEO of IMC. “We are thrilled with our Q3 performance, which not only surpassed our own targets but also highlights the dedication and hard work of our entire team.”
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.
The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements”). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to statements relating to compliance with Nasdaq’s continued listing requirements, and timing and effect thereof; the potential outcome of the Licensing Agreement and the effect of collaboration with Carmel in the Israeli market and the potential exclusive launch of the BLKMKTTM brand this year in Germany.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical (collectively, the “Group”) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East.
Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
CAUTIONARY NOTE REGARDING FUTURE ORIENTED FINANCIAL INFORMATION
This press release may contain future oriented financial information (“FOFI”) within the meaning of Canadian securities legislation, about prospective results of operations, financial position or cash flows, based on assumptions about future economic conditions and courses of action, which FOFI is not presented in the format of a historical balance sheet, income statement or cash flow statement.
The FOFI has been prepared by management to provide an outlook of the Company’s activities and results and has been prepared based on a number of assumptions including the assumptions discussed under the heading above entitled “Cautionary Note Regarding Future Oriented Financial Information” and assumptions with respect to the costs and expenditures to be incurred by the Company, capital expenditures and operating costs, taxation rates for the Company and general and administrative expenses. Management does not have, or may not have had at the relevant date, firm commitments for all of the costs, expenditures, prices or other financial assumptions which may have been used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not, or may not have been at the relevant date of the FOFI, objectively determinable.
Importantly, the FOFI contained in this press release and the documents incorporated by reference herein, are, or may be, based upon certain additional assumptions that management believes to be reasonable based on the information currently available to management, including those assumptions discussed under the heading “Disclaimer for Forward-Looking Statements” and assumptions about: (i) the future pricing for the Company’s products, (ii) the future market demand and trends within the jurisdictions in which the Company may from time to time conduct the Company’s business, and (iii) the Company continued ability to maintain its capital to fund its ongoing business development and future growth.
The FOFI or financial outlook contained in this press release do not purport to present the Company’s financial condition in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in any such document, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments as at the applicable date. However, because this information is highly subjective and subject to numerous risks including the risks discussed under the heading above entitled “Cautionary Note Regarding Future Oriented Financial Information”, FOFI or financial outlook within this in this press release should not be relied on as necessarily indicative of future results.
Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]
Oren Shuster, CEO
IM Cannabis Corp.
[email protected]
Logo – https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/imc-germany-announces-outstanding-preliminary-q3-2024-performance-with-50-growth-over-q2-302265523.html
Gedeon
Gedeon Richter presents analysis on cannabis usage among patients with schizophrenia: a new medical solution to a severe issue might be available
A novel psychiatric scale developed by colleagues of Gedeon Richter Plc. in collaboration with academia was also presented at the 37th ECNP conference
BUDAPEST, Hungary, Sept. 25, 2024 /PRNewswire/ — During the 37th Annual Meeting of the European College of Neuropsychopharmacology (ECNP), held between 21-24 September 2024, new analyses of cariprazine studies were presented by Gedeon Richter Plc. First of all, cariprazine seems to be an effective treatment option for patients with schizophrenia and comorbid cannabis use disorder, according to one of the five posters presented at the congress. Furthermore, during an industry sponsored session, a new transdiagnostic scale for quantifying and visualizing symptom severity of patients with different psychiatric conditions was also presented, that was developed by the medical team of Gedeon Richter Plc. and recognized professors.
Schizophrenia often co-occurs with cannabis use disorder however, available antipsychotic treatments frequently fail to address both disorders. In a scientific poster showcased by Gedeon Richter at ECNP in Milan, cariprazine was presented to be a potentially effective treatment option for patients with first-episode schizophrenia and comorbid cannabis use disorder according to the results of a 6-month observational study. Four other scientific posters were also presented at the congress by Gedeon Richter about the role of cariprazine in the treatment of schizophrenia such as the efficacy of cariprazine in patients who develop akathisia as a side effect or the impact of functioning on the risk of relapse in patients treated with cariprazine vs placebo. Cariprazine is a 3rd generation antipsychotic medication with a unique receptor profile and proven efficacy in schizophrenia, including negative symptoms.
Lacking biomarkers in psychiatry calls for valid and reliable assessments of psychopathology across mental disorders that are easy to use, bridge research and clinical care, and that can capture clinician and patient perspectives. Recognizing this problem, the Gedeon Richter medical team together with experienced psychiatric professors developed a scale to handle this challenge. Using this new transdiagnostic scale called the Transdiagnostic Global Impression – Psychopathology (TGI-P) scale could help CNS professionals and psychologists to quickly assess and visualize symptoms in several psychiatric conditions. During an industry sponsored session, the details and the usability of the tool were shown to the audience.
About Richter and About Cariprazine
Ottawa, Sept. 20, 2024 (GLOBE NEWSWIRE) — The global bioplastic packaging market size was valued at USD 17.99 billion in 2023 and is predicted to increase from USD 21.09 billion in 2024 to USD 87.98 billion by 2033, a study published by Towards Packaging a sister firm of Precedence Statistics.
Key Takeaways: Leading Factors of the Bioplastic Packaging Market
- Use of renewable resources due to growing sustainable demand is the major factor that drives the market.
- Eco-friendly alternatives perceive growth in North America due to growing environmental concerns.
- Food and beverage industry is the dominating sector in the market due to the increasing consumption of packed food.
- Limited infrastructure for bioplastic processing is an unceasing challenge for the market.
Download Statistical Data: https://www.towardspackaging.com/download-statistics/5215
Bioplastic Packaging Market: At a Glance
The bioplastic packaging market revolves around adoption renewable packaging which can be used multiple times and which is an alternative to the fossil fuel-derived plastics. Along with this, resource depletion, reduction of carbon footprint and material waste are the leading objectives of the market. The demand for sustainable packaging solution and the increasing plastic waste has increased the demand of the market.
The bio-degradable feature attributes to the reusable function of bioplastic packaging. The consumer demand for sustainable packaging has also increased the demand of the bioplastic packaging, given the reason it provides resistance and prevents denting as well. The bioplastic material tends to degrade easily which also reduces landfill waste.
Regional Insights
Europe thrives with its vision of sustainable packaging demand
Europe is the dominating region in bioplastic packaging market. The sustainability focus of Europeans has sustained the environment and the alternative packaging solutions have increased the popularity of eco-friendly packaging. The European vision of preserving sustainability is also about turning packaging materials into recyclable or reusable material by 2030 and this has increased exploration of alternative materials, design strategies and mostly importantly waste management system.
Get the latest insights on packaging industry segmentation with our Annual Membership: https://www.towardspackaging.com/get-an-annual-membership
Europe targets to reduce unnecessary packaging by 10% in 2035 and by 15% in 2040. The demand for bioplastic as an alternative increase as Europe has strict regulations against plastic usage which aims to reduce the utilization of single use-plastic to prevent environmental hazards, especially, in marine environment and human health. In addition, European Union also aims at promoting circular economy and innovative sustainable packaging solutions with specific targets which are 77% separate collection target for plastic bottles by 2025 and will be increased to 90% by 2029. Furthermore, 25% of recycled plastic will be incorporated in PET beverage bottles from 2025 and will be increased by 30% in all plastic beverage bottles from 2030.
- In January 2024, European retailers were relived to watch the inflation slow down as it had decreased the consumer rate by 0.1%. Despite the increasing rates and fleeting number of consumers, shopkeepers were committed to the sustainable drive. The UK consumer survey stated that 62% believed that high prices are pulling them back from being sustainable and 52% said that sustainable alternatives should have affordable prices.
North America is a steady region for the bioplastic packaging market due to its sustainable packaging demand which is also the growing consumer requirement. The impact of conventional plastic adds to the ocean litter hazard and as an alternative to reduce carbon print, sustainable solutions are being adopted. Although the American consumers worry more about convenience, price and quality given the increased purchasing rates and the tax-paying lifestyle, 40% of consumers pay more attention to the provided sustainable packaging.
The use of compostable packaging allows circular economy in the US and the companies are innovating new alternatives to support the sustainable drive and to increase their profit margin. According to U.S Environmental Protection Agency, reuse of plastic materials circulates the economy and reduces environmental impact if the material is in constant use instead of manufacturing new one. According to PEW’s research, reuse of plastics can accomplish 30% of reduction, substitution efforts by 17%, improved innovations in recycling by 20% and proper management at end-of-life can achieve a 23% reduction of plastic pollution in the environment.
If there’s anything you’d like to ask, feel free to get in touch with us @ [email protected]
- In November 2023, Knox County, a startup had announced the of AgroRenew LLC and had also planned to build $83 million processing facility which was designed to convert food waste into eco-friendly bioplastics. The company had expected to establish itself in early 2024 and had aimed to produce 150,000 tons of bioplastic annually.
Asia-Pacific is the fastest growing region in bioplastic packaging market with its large population as a contributor and its rapidly increasing industrial sector. The packed food consumption and the boom of e-commerce also gave preference to sustainable packaging due to strict regulations and subsidies provided to promote the compostable packaging. According to Department of Biotechnology, Ministry of Science & Technology, Government of India, the usage of single-use plastic (SUPs) was intended to stop by December 2022. The policy of Government of India (GOI) was changed to promote the development of biodegradable plastic products instead of single-use plastic.
The method used for testing substances should be able to demonstrate biodegradability as per national and international standards and should also be interim approved and receive provisional certification of biodegradability. China having a large industrial production had signed the Paris agreement to reduce carbon footprint and oil dependency as well.
Although the National Development and Reform Commission and Ministry of Ecology and Environment had plans to reduce plastic garbage, the limited infrastructure for recycling and manufacturing biodegradable plastic came as a challenge. The Chinese Government had implemented ban on plastic recycled and prohibition of non-biodegradable single-use plastic.
- In February 2024, Balrampur Chini Mills Limited (BCML), which is a leading integrated sugar mill Kolkata-based company had announced a project with integration of ₹2,000 crore and it was going be the first industrial bioplastic plant in India. The company also stated that it had well-aligned sustainable goals to combat the climate change.
Driver
Government regulations drive the bioplastic packaging market
The major driving factor is the environmental regulations due to increasing plastic waste production which is a problem for the eco-system. The growing concern for climate change, increasing plastic pollution and landfill waste has led to the utilization of bioplastic packaging which is reliable and bio-degradable. The government policies promote the use of biodegradable and bioplastic packaging as it reduces the use of plastic and also its generation.
The government initiatives will increase sales, improve brand perception and also contribute to cost-savings. According to the Consumer Brands Association, FMCG manufacturers have adopted 100% recycled packaging by 2030.
Restraint
Limited infrastructure and higher costs of materials hinder the market growth
The leading challenges which hinder the growth of bioplastic packaging market is high material costs and limited infrastructure. The manufacturing process and raw materials can affect the production of biodegradable packaging. The limited infrastructure also poses as a challenge for the manufacturing and recycling processes.
Opportunity
Integration of Artificial Intelligence
The technological advancement offers new trends which are development of raw materials like algae, mushroom mycelium, and agricultural waste which poses as an emerging alternative. The major factor which technology can contribute is in biodegradability which will enhance the decomposing process of plastic and it also offers upcoming features like the antimicrobial properties which are significant for medical applications, use of UV resistance for outdoor use, and improved barrier properties for food packaging. Collaboration among leading industries can create more innovate and ground-breaking effective solutions for the bioplastic packaging market.
Top Companies Leading the Bioplastic Packaging Market
- Amcor plc
- Novamont S.p.A
- NatureWorks, LLC
- Coveris
- Sealed Air
- Alpha Packaging
- Constantia Flexibles Group GmbH
- Mondi plc
- Truegreen
- Transcontinental Inc.
- ALPLA
- Envigreen
- Nature’s Bio Plastic
- Raepak Ltd.
- Tipa-corp Ltd.
- Treemera GmbH
- Element Packaging Ltd
- Alpagro Packaging
Recent Development
| Company | Balrampur Sugar Mills Firm |
| Headquarters | Uttar Pradesh, India |
| Recent Development | In June 2024, the Uttar Pradesh Government had announced to build a bioplastic park in the Lakhimpur Kheri district which aimed at increasing local economy. The bioplastic park was designed to promotes the usage of bioplastic plastics. |
| Company | Praj Industries |
| Headquarters | Maharashtra |
| Recent Development | In February 2024, Praj Industries had announced that its pilot plant for polylactic acid (PLA) will be completed by April 2024. The company will develop renewable chemicals which is a part of R&D push. The Union Budget had also contemplated a policy for bio-manufacturing and bio foundry. |
Segmental Insights
By Type
The flexible segment is the dominating segment in the bioplastic packaging market. It is dominating due to its properties which are conserving resources and contributing to the sustainability. The flexible segment provides convenience, strong protection and reduces wastage of food and can also resist denting and breakage. Apart from this, it also increases shelf life of the products and the packaging is in demand due to its features like multi-layer construction and eco-friendly packaging solution. Lightness, safety and resistance are the factors which increase the demand of bioplastic packaging.
The rigid segment is the fastest growing segment in the bioplastic packaging market. It will dominate the market due to its properties which are providing protection, resistance and preserving product quality. The rigid segment offers a durable and reliable packaging which makes it preferred among the consumers. Customization and exceptional product protection are the essential features of the rigid segment.
By Application Type
The food and beverage segment are the dominating segment in the bioplastic packaging market. The segment dominates due extended shelf life provided to the food products and long-lasting convenience and visibility. The bioplastic packaging depends upon the type of packaging it provides which provides string barrier against external elements like oxygen, moisture and prevents food spoilage as well. Th global consumption of containers like boxes, bags, jars and pouches has increased the bioplastic packaging demand in food sector.
The consumer and goods segment are the fastest growing segment in the bioplastic films packaging market. The segment dominates due to sealed packaging and robust protection by bioplastic packaging.
More Insights of Towards Packaging
- The global end-of-line packaging market size is estimated to reach USD 9.50 billion by 2033, up from USD 6.14 billion in 2023, at a compound annual growth rate (CAGR) of 4.60% from 2024 to 2033.
- The global surgical instruments packaging market size reached US$ 24.8 billion in 2023 and is projected to hit around US$ 49.1 billion by 2034, expanding at a CAGR of 6.55% during the forecast period from 2024 to 2033.
- The global cannabis packaging market size reached USD 2.32 billion in 2023 and is projected to hit around USD 22.10 billion by 2034, expanding at a CAGR of 22.74% during the forecast period from 2024 to 2034.
- The global clinical trial packaging market size reached USD 2.95 billion in 2023 and is projected to hit around USD 9.12 billion by 2034, expanding at a CAGR of 10.80% during the forecast period from 2024 to 2033.
- The global panel level packaging market size is estimated to reach USD 11.13 billion by 2033, up from USD 0.43 billion in 2023, at a compound annual growth rate (CAGR) of 38.60% from 2024 to 2033.
- The global hazardous goods packaging market size reached US$ 11.50 billion in 2023 and is projected to hit around US$ 21.38 billion by 2034, expanding at a CAGR of 5.80% during the forecast period from 2024 to 2033.
- The global rigid tray market size reached US$ 11.65 billion in 2024 and is projected to hit around US$ 14.72 billion by 2034, expanding at a CAGR of 2.37% during the forecast period from 2024 to 2034.
- The global cider packaging market size is estimated to reach USD 7.05 billion by 2033, up from USD 4.08 billion in 2023, at a compound annual growth rate (CAGR) of 5.77% from 2024 to 2033.
- The global boxboard packaging market size is estimated to reach USD 117.61 billion by 2033, up from USD 65.73 billion in 2023, at a compound annual growth rate (CAGR) of 6.12% from 2024 to 2033.
- The global corrugated plastic tray market size reached US$ 665.47 million in 2023 and is projected to hit around US$ 1190.73 million by 2034, expanding at a CAGR of 5.14% during the forecast period from 2024 to 2034.
Bioplastic Packaging Market Segment
By Material
- Biodegradable
- Polylactic Acid
- Starch Blends
- Polybutylene Adipate Terephthalate (PBAT)
- Polybutylene Succinate (PBS)
- Others
- Non-biodegradable
- Bio Polyethylene
- Bio Polyethylene Terephthalate
- Bio Polyamide
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Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
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