Feb 9 2017
Consumer and industrial brands are increasingly critical to the dynamics of, and commercial opportunities within the bio-economy at large. That’s why in the run up to World Bio Markets (27-29 March, Amsterdam) we caught up with Puneet Trehan, Materials Innovation leader at IKEA. We asked Puneet about what drives Ikea’s bio-based strategy, how they overcome prominent challenges and how they expect to continue with bio-based activities.
IKEA have been something of a pioneer in the pursuit of bio-based alternatives to fossil-based material, what drives this strategy?
For IKEA, every strategy & everything that we do, is driven from our simple vision” A better Everyday Life for the Many People” as a starting point. Then if we look ahead,
- Will sustainable products be creating a better everyday life for our millions of customers ?
- Will circularity as an approach create more resource efficiency ?
- Do we need to take our responsibility in consuming resources in a more efficient manner especially focussing more on renewable resources?
The answer to all these questions is a big YES. And hence the focus on bio based agenda since we are convinced that as a down-stream responsible player, brand owner and retailer, we along with our strategic partners can make the difference!
What do you view as the key challenges to developing bio-based value chains and how have Ikea and its partners been successful in navigating these?
The key challenges that we have experienced so far :
- Really setting up the value chain which is built on “win – win “ for the partners involved
- Getting a customer / application development focus instead of only the technology focus from the beginning
- Value chain partners need to “ really believe in the direction” and also that this is not a short term focus , rather a long term direction which will need perseverance and consistent approach.
How do you expect consumer brands to evolve their bio-based strategy in the coming years, can wider uptake be realised?
We expect more and more brands to take up these initiatives as core part of their strategy, something which we believe will happen over the coming years. The question though is what are the investments that the brands are willing to make to get this to fly, rather soar!
As a pioneering bio-based brand what would you most like to see from other parts of the value chain to help the commercialisation of bio-based materials at scale?
- Align to the same goal where the end consumers on a mass scale are the main beneficiaries
- Have long term directions and not short term capitalization approach
Looking to hear more from Puneet? You can download the full agenda here and see who else you can hear from at WBM 2017.
Information was provided by the organisers Green Thinking (Services) Ltd