Leading the Green Product Revolution

A There is strong growth in the market of biodegradable products in India due to regulatory push, environmental awareness and shifting consumer preferences. In keeping with the country’s struggle to combat increasing pollution and waste management problems, the government has been pushing for stern policies to regulate plastic use. Fertile ground has been created for biodegradable product manufacturers by the ban of single use plastics in many states and the push for sustainable alternatives. In this sector, startups are innovating with materials like bagasse, cornstarch and coconut coir, which not only are biodegradable, but are also abundant in India. These materials are now being turned into a variety of products including biodegradable packaging, cutlery, bags and tableware. With these products, the focus on using natural plant based raw materials has made it an attractive alternative to the traditional plastics, particularly in the food and beverage, retail and hospitality sectors.

Consumer behavior is also changing, with an increasing amount of people willing to pay more for eco-friendly products. Most of this change is induced by the growing awareness of environmental issues as well as the increased media attention on the destructive consequences of plastic pollution. Furthermore, large corporations are also getting on board with the sustainable practices and the demand for biodegradable solutions is increased. This market is being recognized by venture capital and impact investors who are now pumping in more money to startups working on sustainable and eco-friendly innovations. The sector has seen considerable inflows of investment which have helped startups scale their operations and product quality.

In this special issue, we introduce you to the top startups in this segment. Industry Outlook has identified the select few companies that have done particularly well with a high level of dedication. We have found that they have gone the extra mile in proving their commitment to excellence in an integrated manner.