Coca-Cola's (NYSE: $KO) paper bottle will open new world of sustainable packaging possibilities, says GlobalData
March 19, 2021 (Investorideas.com Newswire) Coca-Cola's innovative new paper bottle for plant-based beverage AdeZ will attract the 43% of global consumers that stated how ethical or environmentally friendly a product is influences their product purchasing decisions, according to a survey by GlobalData*. The move will encourage other companies to launch plastic packaging alternatives, and, in the long-term, consumers should expect to see paper-based bottles appearing for other liquid products in the hospitality, restaurant and café (HoReCa) segment and in other retail stores, ranging from beers to soft drinks, juices and ready-to-drink (RTD) items.
Arvind Kaila, Practice Head of Consumer Beverages at GlobalData, comments: "Coca-Cola's paper bottle will open up a whole new world of possibilities for beverage companies. With growing pressure from consumers and government bodies alike on sustainability initiatives, it is no surprise that there has been a surge in research and development (R&D) into paper bottles."
GlobalData's survey also found that 22%* of global consumers now view recyclable or reusable packaging as significantly more important since the pandemic began, while 12% claimed it was their top priority.
Kaila continued: "Consumers worldwide are increasingly expecting brands to develop and bring to market new and sustainable packaging innovations. Sustainability and reducing environmental impact have become increasingly critical to consumers' brand perception in the pandemic because it has given consumers time to gain a new perspective on their environmental and social footprint.
As Coca-Cola's project moves into the testing phase, it will help gather information on consumers' attitudes towards paper packaging and its suitability for grocery sales. This information will be used in the further development of this packaging format in the long term.
Kaila adds: "This innovation is an important step in the development of a viable liquid packaging solution, and is likely to impact overall beverage industry positively."
* GlobalData's Global COVID-19 Recovery Survey Week 11
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- Quotes provided by Arvind Kaila, Practice Head of Consumer Beverages at GlobalData
- Data taken from GlobalData's survey of 2,000 nationally representative UK consumers, aged 16+ conducted in early August 2020
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