We use plastic spoons in the food and beverages industry. Plastic spoons are part of dining cutlery on various occasions. Most of the packaged food industry concentrates on these cutleries to attract customers. Small spoons are often used for desserts or for adding sugar to coffee or tea. One might expect that food tasted from a small spoon would generally be sweeter than food tasted from a large spoon. Recent advancements in the plastic industry could lead to the use of biodegradable plastic use in the manufacturing of food-grade cutlery. Although it slightly enhances the overall product cost; could help to save the environment from dangerous aspects of the single use of these products.
Market Potential & Product Uses:
The global market for plastic spoons is segmented into applications and product types. Commercial and household are the major segments of the applications in the plastic spoon market. The increasing demand for convenience packaging in the food industry drives the global spoon market. As per the survey, the plastic cutlery market is projected to register a CAGR of 4% during the forecast period, growing from US$ 1.6 billion in 2021 to reach a valuation of US$ 2.47 billion by 2032. The concept of spoon-in-lid packaging has gained popularity across the globe owing to the increasing out-of-home consumption of food products.
Spoons are used in packaging that includes a spoon in the packaging of food products. They are currently used in many industries, such as pharmaceuticals, food, and beverages, cosmetic products, household items, etc. Domestic consumption of food products. Frozen food market, Fast-Food Restaurants are extensively using plastic spoons for better customer experiences.
Technical Outlook
The basic raw material required for manufacturing plastic spoons is polypropylene pellets or polystyrene or bio-degradable plastic resins, plasticizers and packing material, etc. The project cost may vary due to changes in raw materials and processes. Plant & machinery mainly includes an Injection molding machine, grinder, and water chiller with some other equipment such as profile dies, pumps, Bins, etc.
Financial Outlook
The Plastic spoon manufacturing business requires minimum investment. With an average investment of Rs. 15 Lakh to Rs. 20 Lakh, a good amount of revenue can be generated. The gross profit margin can vary from 20 to 25 percent. All such investment shall include the cost of Plant and machinery and equipment which is to be acquired for manufacturing setup. Power consumption for such machinery can range between 8 to 10 kW. The Working capital investment of around Rs. 5 Lakh to Rs. 7 Lakh will be required to take care of running expenses. The manufacturing setup calls for space for Inventory, workshop or manufacturing area, space for power supply utilities, and auxiliary like Generator setup. Also, some of the areas of the building are required for office staff facilities, documentation, office furniture, etc. Thus, at the initial scale, the approximate total area required for a complete industrial setup is 1500 to 2000 Sqft. Manpower is also essential input in the business. The average number of staff can range between 6 to 10 people, including skilled and unskilled staff. The benefit of subsidy under the PMEGP Scheme can also be availed if the project cost is up to Rs. 50 Lakhs under the manufacturing sector.