Eco-Friendly Innovation in Packaging: Sustainable Business Strategies for Sonali Bag

The Sonali Bag, a 100% plastic-free biodegradable jute-based biopolymer, is a sustainable response to the global demand for environmentally friendly substitutes. Using information from the Bangladesh Jute Mills Corporation and market projections, this study assesses its viability with SWOT, PESTEL, the 4Ps of the marketing mix, and Porter’s Five Forces. Research shows that the Sonali Bag is cost-competitive, with a Benefit-Cost Ratio of 2.53 at a premium price. Government incentives, including a 10% tax cut until 2026 and 8.4 million bales of jute produced annually, bolster its growth. Despite current production costs ( to 0.12 per unit) being higher than conventional plastic, strategic scaling may bridge this gap. The SWOT and 4Ps frameworks highlight market potential (21.3% CAGR), Porter’s 5 forces show risks of substitution, while the PESTEL analysis emphasizes regulatory and technological dynamics. Sales of lignin by-products ( 60/kg) could offset 15.94% of expenses. The study supports several UN Sustainable Development Goals (SDGs), including SDG 9, SDG 12, SDG 13, and SDG 14 which calls companies and policymakers to give innovation and awareness top priority. With effective policy, innovation, and awareness, the Sonali Bag could position Bangladesh as a leader in green packaging and jute-based bioplastics.