Compostable packaging manufacturer Vegware has announced a 43 per cent growth in sales last year.
In the latest accounts for the 12 months to the end of January 2020, Vegware’s UK sales increased by 28 per cent to £26.7 million, with international sales rising by 68 per cent to £19.2 million.
The Edinburgh-based SME saw particularly strong growth in Europe, with American business increasing more than twofold alongside it.
Founded in 2006, the company provides its plant-based packaging products to customers ranging from independent cafés and universities to international food service operators, and now sells in over 70 countries.
Within the next five years, the wider biodegradable packaging sector is set to see significant growth. According to market research firm Mordor Intelligence, the industry was valued at $89.57 billion in 2019 and is expected to reach a value of $121.38 billion 2025.