The Indian packaging industry today is growing steadily to emerge one of the key players in the global arena. The industry is not only evolving in terms of adapting to latest technology and packaging trends but today is one of the fast growing pegged to be $18.8 billion with a growth rate of more than 15 per cent per annum.
A number of Indian packaging firms today are innovating with packing trends for specialized products especially for drugs and chemicals. Along with traditional packaging techniques, these firms are evolving with software technologies to speed up the packing process; maintain quality of medicinal and pharmaceutical products which are produced on a mass scale.
With huge potential to innovate and experiment, UFlex Ltd too has entered the pharma packaging and is increasing making its presence felt in the segment. The company had earlier announced robust investment plans which included sizable investments in FMCG and pharma packaging. The company currently supplies flexible packaging materials to Pharma companies such as Ranbaxy, Procter & Gamble amongst other prominent pharma companies in India and abroad.
Pharma packaging the country has gained prominence owing to the increasing health consciousness to stay fit. The growing awareness of AIDS and other STDs has also led to the rise in demand for contraceptives and disposables syringe usages. Further, the need for specialized pharma packaging is another reason attributing to the industry growth.
In the years to come, the increasing health and hygiene conscious (to consume healthy food) will be the key growth drivers of the packaging industry and the players catering to these segments are expected to acquire a good market share.