Global packaging leader Elopak today (4 September) announced its revised corporate strategy, 'Repackaging tomorrow', outlining plans to significantly expand its operations and double revenue to €2bn ($2.21bn) by 2030.

CEO Thomas Körmendi highlighted the company's strong financial performance and strategic achievements since its initial public offering in 2021.

Elopak has solidified its position as a leader in fibre-based packaging, capitalising on the growing demand for sustainable solutions.

To achieve its ambitious growth targets, Elopak has identified three key strategic priorities:

Global expansion: The company aims to capitalise on emerging opportunities in key markets, including the US, Middle East, North Africa, and India.

Investments in new production facilities and partnerships will drive growth in these regions.

Market leadership: Elopak will continue to strengthen its dominant position in European markets by leveraging its sustainability expertise and innovation.

The company seeks to capitalise on upcoming regulations and consumer preferences for eco-friendly packaging.

Plastic replacement: Elopak plans to expand its product offerings in the home and personal care segments, focusing on its D-PAK carton as a sustainable alternative to plastic packaging.

Partnerships and acquisitions will also be explored to accelerate growth in adjacent categories.

In addition to its financial goals, Elopak has set updated and ambitious sustainability targets.

The company aims to ensure that 100% of its cartons are designed for recycling by 2030 and reduce its scope 3 emissions by 25% while doubling revenues.

“As a market leader in fibre-based packaging, Elopak is well-positioned to benefit from increased regulations and growing sustainability awareness among customers and consumers," said Körmendi.

"With our strong track record and innovation pipeline, our total product portfolio will be designed for recycling by 2030."