Avantpack achieved another successful year, marked by a significant increase in revenue of 27% to reach 26 million euros. Our biodegradable and compostable bags have been widely adopted in foreign markets as a sustainable alternative to traditional plastic bags for carrying food and disposing of biological waste.
With regular customers in over 25 markets, Avantpack has established a strong presence in the ultra-light bag market niche for food composting bags. Italy is our largest market, and we are proud to be among the top 5 European companies in this market. We have also been awarded a multi-year contract by Lidl Supply, a German headquarters of the retail giant, to supply Lidl stores in 9 countries.
Melvis Haskić, Founder and Director of Avantpack, states: “Our composting bags are made from 100% organic, biodegradable and compostable material, which meets the European standard UNI EN 13432. This standard requires that 90% of the bags must break down within 90 days under normal composting conditions, breaking down into water, carbon dioxide, and biomass (compost). Our bags are partially composed of vegetable starches such as corn starch, as well as other biodegradable materials like sugars and vegetable oils. While home composting conditions may vary, this product highlights the importance of biodegradable packaging that quickly decomposes. A recent study by Greenpeace showed low plastic recycling rates in the US, emphasizing the pressing need for environmentally friendly packaging solutions.”
In light of these developments, Avantpack has plans to increase production capacity and introduce new products, including compostable films, for the packaging of products such as cheese, meat, fish, and pasta. While we anticipate sales to increase with new customers, a significant increase in revenue is not expected, due to the decrease in raw material prices.