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The growing Packaging industry in India

The Indian Packaging industry is growing at an exceptional pace. Packaging is an integral


part of many sectors across the country and across sectors. According to data available, the
Indian Institute of Packaging (IIP) has touted the total packaging industry in India at
present at USD 27.6 billion and by 2016 this is expected to rise to USD 43.7 billion. The
packaging industry was growing at a healthy rate of 12%p.a. while the global growth rate of
packaging was 5% p.a.
The large and fast growing middle class Indian population and the growth of the organized
middle sector has spiraled the growth of the packaging industry. The retail market in India
is the 5
th
largest in the world according to the IIP and for investment it has been ranked the
2
nd
most favorite emerging market destinations. By 2018 this market is expected to rise to
USD 1.3 trillion.
There are close to 22,000 packaging companies in the country which manufacture raw
materials, machinery supplies and additional materials. The processed food manufacturing
industry contributes a major chunk (48%) to the consumption of flexible packaging
material. Others like pharma, personal care and misc constitute the rest of percentage.
The plastic packaging industry in particular has registered a growth of 18-20%. The flexible packaging
market is USD 4 billion.
The flexible packaging industry has been constantly developing innovative packaging
solutions for various sectors and applications. In this regard Uflex ltd is at the helm of
delivering innovation packaging solutions through its constant and improved R&D. With a
vision to Progress with Distinction, Uflex is privileged to contribute to society by producing
a variety of value added flexible packaging material, sophisticated products including films
like BOPET, BOPP and CPP; state-of-the-art packaging and converting machines and
rotogravure cylinders, thereby providing world class flexible packaging solutions to its
customers.
Before the advancement of the industry the quality assurance of packaging was lagging
behind but now it is no more so, and domestic packaging is now in reckoning with
packaging of international standards. Also, packaging has become an integral part of
creating brand value. With flexible packaging, manufacturers are increasingly influencing it
to match their products and its specifics.
The packaging industry is an extremely competitive one. The industry is expected to
register further growth fuelled by demand for more expensive films and coatings for longer
shelf lives of products packaged. Also a trend in the food industry of going away from bulk
food packaging to single-serve products will also be an advantage for the packaging
manufacturers.
As compared to developed economies like China and Germany which have packaging level
consumption per person per annum of 20kgs and 42 kgs respectively, Indias consumption
is at a low 4.3kgs per person p.a. Hence, there is still a huge scope for innovations,
entrepreneurships and logistical advancements. Initiatives are required to convert the large
unpacked commodities into packed, processed and well presented goods. Uflex Ltd is
committed towards positive growth and making the Indian flexible packaging market at par
with the markets in developed countries.