Porter’s model of competitive environment

New Entrants

Substitutes and Complements

Suppliers

Customers

Barrier to new entrants is low.

Emphasize the importance of strong supplier relationships, managing costs, and ensuring quality.

Segment customer groups, understand their diverse needs, and tailor offerings accordingly.

Substitutes

Biodegradable Alternatives (Bioplastics)

Metal, Glass, and Paper Packaging Materials

Reusable Containers

Complement

Packing Machinery Companies

Producers of Additives, Colourants, and Specialty Chemicals

Recycling Technologies and Processes

Such as packaging industry, retailers and more

A methodical strategy is essential for individuals starting into the plastic production sector.