The company was in the business of manufacturing plastic packaging for its clients for around 30 years. Its client list included top-packed food, accessories, beauty, and different companies which use plastic packaging in the U.S. and Canada.
As the sustainability of plastic packaging was in question, the company wanted to dive deep into the recycling rates of plastics and how to improve the sorting of post-consumer packaging.
With this new goal in mind, the company went ahead with project holy grail 2.0 which focuses on efficient sorting of packaging through digital watermarks. Digital technology integration was enabled with the hope of better sorting and higher recycling rates.
But the company faced obstacles in its successful implementation within the system. Key challenges such as technical requirements and novel investments were faced by the company. This led to a lessening customer base and loss of revenue.
The top authorities of the company then turned to Research Nester for their guidance and competitive insights.
The Company, an industrial packaging company maintained a strong market position for the past 30 years. In the year 2021, the company set itself up on a mission to achieve sustainability and higher recycling rates for plastic packaging waste. Thus came the holy grail 2.0 project which was aimed at sorting packages swiftly and without any chemical additives. The use of embossed markers was helping to sort packaging and also add new applications. With the integration of this new project, the company came to face some unprepared challenges. This included the constant need for higher computing power, the need for high-resolution cameras and so much more. The huge investments were made, but with minor glitches, it didn’t reap the results that were anticipated. This led to the loss of customers and revenue. Research Nester was thus brought to the arena to help navigate through this crisis and share insights for growth and sustainability.
The major challenge faced by the company is inadequate research on the project and its potential challenges. The project is still in trials and hence would take time before actual results. But with Research Nester’s customized research report on the industrial packaging market and holy grail 2.0, the company can recover from this slump. Other suggestions by the analysts include:
The industrial packaging company had a strong market position up until 2021. With 30 plants around the country, the company serves the flexible packaging needs of a diverse set of customers – from farmers to Fortune 500 companies. The company’s products include stretch film for pallets, industrial film, drum liners, dry cleaner bags, mesh fruit bags, and much more. But with the holy grail implementation, the revenue growth of the company went down to 12% in 2021 from 20% in 2020. With the right strategy from Research Nester, the growth of the company was back and steady at 23% in 2022.