The Indian Packaging Industry is growing at a fast pace of 11% annually and is estimated to cross the 95,000 crore mark by 2015. The current value of the industry rests at 63,000 crore.
The packaging industry has organized to medium to large players as well as unorganized local players. The growth indicator for the Indian packaging industry is the food & beverage and pharmaceutical packaging sectors. The coming 3-4 years will witness the growth of the food processing industry in double fold, which will consequently lead to a huge demand for packaging material.
The plastic processing sector with the raffia segment has the most modern technology available and produces products of international standards. Approximately 1.2 million tonnes of polyethylene (PE) and polypropylene (PP) materials consumed by the raffia sector in India produce woven sacks, tarpaulins, FIBC (flexible intermediate bulk containers). The consumption growth of this sector from 2006-07 to 2009-10 is about 55%, i.e. 775 KT to 1.2 million tonnes. As of today, the Indian sector has become the 2nd largest raffia segment in the world.
Divulging from the traditional packaging demand, the changing life style and the societal pattern of life with the increasing number of working couples has hastened the growth for ready-to-cook and ready-to-eat foods. This has proved to be precursor for growth for the packaging industry.
The advances in food technology and packaging technology have made it possible to extend the shelf-life of ready-to-cook products. Ready-to-eat snacks which have a short shelf life are usually packaged using injection moulded plastic containers, plastic film/bag pouches or paperboard cartons.
Another emergent segment is the pet food packaging sector. The right combination of colours and smells are being taken into consideration so as to develop a packaging option that is most attractive to pets. Till now in India, tuber lamination machines, which are used in the manufacture of such packaging, have not been available. Now, companies have started manufacturing these, which has made easier for the Indian processors to manufacture such bags.
The packaging business does not experience cyclic tends owing to the nature if the industry. With an anticipated growth with the next five odd years in the domestic demand for packaging, this industry is gearing up to adopt scientific and functional packaging. Due to low manufacturing costs, India is fast emerging as the preferred place for packaging production.
To cater to the perceptive and sensitive customer of today the packaging industry is evolving in technical and scale terms so as to provide consumers with what they desire. The increasing numbers of health-conscious individuals show a preference for packed, branded products rather than the loose and unpackaged formats. India being dominated by the rural market, manufacturers are introducing low-priced goods in smaller pack sizes, which have proved to be extremely popular in smaller towns and villages.
UFlex, the packaging giant has always been committed to the industry by providing technical know-how and being the trend-setter in the flexible packaging industry. Being on the edge of innovation, UFlex endeavors to be the first to come up with advanced products that cater to the changing demands of the packaging industry.