Edible packaging market to reach USD1416.77 mln by 2030

Edible packaging market to reach USD1416.77 mln by 2030

MOSCOW (MRC) -- The global edible packaging market size is expected to reach USD1416.77 mln by 2030, according to a new report by Grand View Research Inc., expanding at a CAGR of 5.7% over the forecast period 2023 to 2030.

The market growth is attributed to increasing awareness among consumers about the negative impact of traditional packaging solutions and stringent government regulations around the world for single use plastic ban. Moreover, increasing application of these packaging solutions in pharmaceutical and food & beverage industry is fueling the market growth.

The edible packing method makes the product a more sustainable option compared to traditional packing materials such as plastic, paper, and metal. Consumers are becoming more environmentally conscious and are looking for packing options that have a lower impact on the environment. In addition, these packaging solutions enhance the taste and texture of certain foods, such as adding a crunchy coating to snack foods or enhancing the flavor of beverages.

Moreover, the growing trend of processed foods and online food & grocery deliveries have fueled the market growth for edible packaging. Due to the busy lifestyles of consumers the need to eliminate the time consumption on waste management drives the need for sustainable and eco-friendly packaging solutions. These packaging solutions made from protein, lipid, and polysaccharides can be consumed after use which reduces the negative impact on the environment.

We remind, Solvay, a global leader in naturally-derived polymers for beauty care formulations, has announced the launched of Naternal, its new brand for eco-design hair and skin care solutions, said the company. Naternal brings together biodegradable beauty care polymers, from guar and other natural feedstocks.

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Solvay launches Naternal, its new brand of bio-based biodegradable polymers

Solvay launches Naternal, its new brand of bio-based biodegradable polymers

MOSCOW (MRC) -- Solvay, a global leader in naturally-derived polymers for beauty care formulations, has announced the launched of Naternal, its new brand for eco-design hair and skin care solutions, said the company.

Naternal brings together biodegradable beauty care polymers, from guar and other natural feedstocks.

“The introduction of Naternal clearly demonstrates Solvay’s long-term commitment to sustainable growth,” explains Jean-Guy Le-Helloco, Vice-President, Home & Personal Care at Solvay. “Naternal represents a new era where beauty, the planet and fair treatment of farming communities can all be balanced."

According to Solvay, the array of ingredients offered by Naternal aligns with the biodegradable by-design approach, which aims at integrating end-of-life management at the early stages of research and ensuring that product development is driven by both application and end-of-life performances.

We remind, Solvay has opened a new application development lab (ADL) in Shanghai, China, to expand its global footprint of its research and innovation facilities. The new facility will develop solutions for applications industries including automotive, new energy, life solutions and pharmacy, smart devices and semiconductors for Solvay’s customers active in local and global end markets.

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TotalEnergies secures green hydrogen for German refinery

TotalEnergies secures green hydrogen for German refinery

MOSCOW (MRC) -- TotalEnergies and German gas distributor VNG have signed an agreement for the supply of green hydrogen to TotalEnergies’ Leuna refinery in Germany’s Saxon-Anhalt state, said the company.

Under the agreement, the hydrogen will be produced from renewable electricity with a 30 MW electrolyzer in Bad Lauchstadt, near Leuna, that will be built and operated by VNG and German power generation company Uniper.

The green hydrogen is expected to contribute to the refinery’s decarbonisition, reducing its annual carbon dioxide (CO2) emissions by up to 80,000 tonnes by 2030. Furthermore, a pipeline connection to Bad Lauchstadt would give the refinery access to the future European hydrogen infrastructure and international markets for green hydrogen, officials said.

A final investment decision (FID) on the EUR210m Bad Lauchstadt electrolyzer project has been reached and groundbreaking took place on Wednesday. From Q3 2025, the pipeline is scheduled to transport green hydrogen from the Bad Lauchstadt for use at the refinery, officials said.

For the refinery, the supply agreement with VNG is “a first step that will enable us to purchase green hydrogen in large quantities in the future and to produce low carbon footprint products such as renewable fuels of non-biological origin, or e-fuels,” said Thomas Behrends, the refinery’s general manager.

TotalEnergies added that it focuses on decarbonising the hydrogen used in its European refineries, reducing CO2 emissions by 3m tonnes/year by 2030.

We remind, TotalEnergies confirms its commitment to the energy transition in Kazakhstan with the signature of a Power Purchase Agreement (PPA) for the Mirny project. This will be the first PPA signed in the country for a wind project of such scale. Located in the Zhambyl region, the project aims to build a 1 GW onshore wind farm combined with a 600 MWh battery energy storage system for a reliable power supply.

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U.S. EPA finalizes biofuels blending mandates

U.S. EPA finalizes biofuels blending mandates

MOSCOW (MRC) -- The Biden administration has increased the amount of biofuels that oil refiners must blend into the nation's fuel mix over the next three years, but the plan includes lower mandates for corn-based ethanol than it has initially proposed, the administration announced on Wednesday, as per Hydrocarbonprocessing.

The U.S. Environmental Protection Agency has finalized biofuel blending volumes at 20.94 billion gallons in 2023, 21.54 billion gallons in 2024 and 22.33 billion gallons in 2025. That compares with the initial proposal announced in December of 20.82 billion in 2023, 21.87 billion in 2024, and 22.68 billion in 2025.

It was reported earlier, European Union lawmakers plan to accept changes made by countries last week to the bloc's renewable energy law, to give assurances to France and others on potentially exempting ammonia plants. EU countries on Friday agreed late changes to the law, adding an amendment that said some ammonia plants would struggle to switch to renewable fuels, and a pledge from the European Commission to consider exempting them from renewable targets.

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Oil extends declines on China growth woes, firmer dollar

Oil extends declines on China growth woes, firmer dollar

MOSCOW (MRC) -- Oil prices weakened on Wednesday, extending falls to a third straight day, as the dollar strengthened on a U.S. housing market recovery while fears persisted that monetary stimulus may not be enough to revive growth in China, said Reuters.

Brent futures fell 21 cents, or 0.3%, to USD75.69 a barrel and U.S. West Texas Intermediate (WTI) crude futures were down 14 cents, or 0.2%, at USD71.06 at 0043 GMT. The dollar rose after data showed U.S. homebuilding surged in May to the highest in more than a year and permits for future construction climbed, suggesting the housing market may be recovering after being hammered by Federal Reserve rate hikes.

A firmer dollar weighs on oil demand as it makes the commodity more expensive for buyers holding other currencies. The market remains concerned about a faltering recovery in China, the world's top oil importer. Looking to boost growth, China on Tuesday cut its benchmark loan prime rates (LPR) for the first time in 10 months, with a smaller-than-expected 10-basis-point reduction in the five-year LPR.

The rate reduction followed recent economic data showing the China's retail and factory sectors were struggling to sustain momentum from earlier this year. "Investors remained impatient with China's efforts to boost economic growth," ANZ Research said in a client note on Wednesday. "Beijing's slow stimulus rollout is adding concerns about the weakening economy."

Oil trade was also cautious ahead of congressional testimony by U.S. Federal Reserve Chair Jerome Powell later on Wednesday which is expected to provide clues on future rate moves in the world's biggest economy. Two Federal Reserve policymakers and an economist nominated to join them on the Fed's Washington-based board on Tuesday said their focus is on bringing down too-high inflation so that the U.S. economy can get back to sustainable growth.

We remind, Oil prices fell in choppy trading on Tuesday as a clouded oil demand outlook outweighed the potential boost from a cut to China's benchmark lending rates. Brent crude fell 92 cents, or 1.2%, to USD75.17 a barrel by 1345 GMT. U.S. West Texas Intermediate (WTI) crude for July was down USD1.53 from Friday's close at USD70.25. The July contract expires at the end of trade on Tuesday. The more active WTI crude contract for August delivery was down USD1.51 from Friday at USD70.42 a barrel. There was no WTI settlement on Monday because of a U.S. public holiday.

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