The global rigid packaging market size reached $218 billion in 2023 and is projected to hit around $366 billion by 2034, expanding at a CAGR of 5%. The world volume of wood waste is expected to become a new market that allows the production of packaging worth at least €100 billion. This is where Bpacks wants to establish a strong foothold with its innovative and sustainable packaging technology.
Bpacks, which claims to have developed the world’s first bark-based packaging technology to replace plastics, has secured €1 million in pre-seed funding. This move underscores investor confidence in its innovative, sustainable packaging technology. This funding comes amid a surge in investments in packaging startups, including recent deals of Movopack and IonKraft.
The Belgrade company will use the investment to accelerate its growth by establishing a manufacturing facility in Spain by 2025. The funding will also support scaling the production of bark-based pellets and packaging products, advancing its R&D capabilities in Belgrade, and laying the groundwork for expansion into the US market by 2026. This will enable Bpacks to meet the rising demand for sustainable packaging solution
What challenge does it tackle?
It addresses two critical issues: plastic waste and food spoilage. Its bark-based packaging reduces reliance on petroleum-based plastics while extending the shelf life of perishables, such as meat, fruits, and vegetables by up to 7 days. This not only cuts plastic waste but also reduces food waste by over 42%, helping manufacturers and retailers meet sustainability demands.
How was the idea born?
Founded in 2022 by Mikhail Skalkin and Lev Bolshakov in Serbia, Bpacks emerged from a vision to leverage industrial byproducts like tree bark to address the growing plastic pollution crisis. Recognising bark as an underutilised resource, the team developed a proprietary formula to create 100% compostable packaging. This breakthrough combines environmental responsibility with practicality, making it compatible with existing production lines for plastics and pulp moulding.
Sustainable packaging alternative
Bpacks is a circular economy pioneer transforming wood waste into eco-friendly packaging that meets industrial needs without harming the planet. Its universal, antimicrobial material supports various industries, including food, beauty, and household products, ensuring compatibility with existing manufacturing infrastructure. With its innovation, Bpacks aims to redefine sustainability in packaging, paving the way for a greener future.
Key partnerships and progress
The company has partnered with Serbian retailer Gomex, which operates over 300 stores in Southern Europe, marking a significant milestone in commercialising bark-based packaging. By demonstrating compatibility with FMCG production streams, Bpacks showcases the scalability and practicality of its technology for global markets.
“ESG principles and sustainability are central to our company’s mission, and we’re proud to be pioneers in offering innovative, tree bark-based packaging to our customers. By introducing this groundbreaking, eco-friendly packaging, we aim to lead by example and inspire more sustainable practices across our industry. The Bpacks solution will benefit not only end users but also our company by reducing product write-offs, enhancing shelf life and minimising waste. This aligns seamlessly with our ESG values and sets a new standard for sustainability within our industry,” said Dimitrije Stojanović, CEO of Gomex.
“Our product is universal in nature and made of up to 80% industrial byproducts, meaning it can help manufacturers of food and beverages, cosmetics and beauty products and household items without causing environmental harm. Furthermore, our packaging solution, due to the natural properties of bark, has a high antibacterial index and increases the shelf life of products, meeting the demands of our clients. Aiming to secure a seed round by March 2025, we intend to build our own pellet manufacturing facility and establish the supply chain by providing materials for plastics manufacturers and directly for our clients,” said Lev Bolshakov, сo-founder of Bpacks.
“The sustainable innovation of a company like Bpacks marks an important step for retailers looking to reduce their environmental footprint without sacrificing quality or increasing the cost for customers. Bpacks demonstrates how eco-friendly practices can seamlessly integrate into mainstream markets, setting a new standard for packaging solutions. Thanks to this, we can expect Bpacks to achieve over €40M at 30% EBITDA by 2028,” added Mikhail Taver, advisor and member of the Board of Directors at Bpacks.
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