Successful international trade is not possible without efficient and tenable packaging. Packaging has significant importance in the global trade of goods and especially in India, it is essential for the development of the economic growth and GDP. The industry in India is growing at a fast pace and has gained momentum in the e-commerce, processed food, and FMCG industries. Packaging not only protects and maintains the quality of the product but also helps in boosting sales and brand image. Due to growing consumerism and globalization, the industry is adapting to new rapidly changing technology to fulfill the high demand. What are the recent trends and technological advancements in the Packaging Industry?
The $17 billion Packaging Industry of India constitutes around 4% of world’s Packaging Industry. Over the last 5 years, the industry has seen a 15% annual growth and the development of packaging machinery is on an upward trend. Both primary and secondary packaging have tremendously grown over the past few years. Companies like Bosch, have made some strides by using robotic technology in this sector. The use of robotic technology is presently limited in India but will flourish in the coming years. Currently, the Packaging Industry is also interested in exploring environmental safe solutions and need of the hour is to ensure that product packing is environmental friendly. The two innovations in packaging are distinctive packaging and packaging machinery technology.
In comparison to about 15 years ago, the demand of packaging, especially in the food sector is now enormous. Talking about the innovation and technologies, France has world class technology in cold chain, packaging solutions and food processing sectors. The recent partnership between India and France was an initiative based on knowledge sharing to bring better technology to India. Basically, the potential is without a doubt immense for the food processing sector, as well as for equipment manufacturers in this sector.
Increase in demand and the growing usage of packaging material in the food and beverages sector and expanding working population has given momentum to food Packaging Industry in India. The Indian plastic packaging market is worth $7 billion of which 63% accounts for the plastic food packaging itself. The multi-layer plastic food packaging is currently estimated at about $1 billion, which is about 22% of India’s total plastic food Packaging Industry.
The market share for rigid plastic in the packaging segment is 26% and half of the rigid packaging market accounts for the non-food sector, 29% beverage and remaining is food. Advanced plastic and Poly Ehtylene Terephthalate (PET) packaging improve the brand image of the product and is also an economic solution for companies. PET packaging is well adapted in India, however new advanced technologies like the patented European PET packaging technology by Petainer Innopac Packaging is now being introduced in the country.
Another Technology expected to experience various advancements in near future is Retort Packaging; in which the technological innovation may lead to complete market change in terms of economical and sustainable advantage. For the emerging economies like India and China, retort packaging will create a sturdy demand in the packaging market. The market has three segments; by material, i.e., polypropylene, polyester, aluminium foil and other; by type, i.e., tray, pouches and cartons; or by end use, i.e., healthcare, personal use, food, beverage and others.
One more upcoming technology in food & beverage packaging is Aseptic technology which is very suitable for India’s climate. This technology takes away the need for refrigerated storage of processed food in order to reduce wastage of perishables.
The Government of India is putting all the effort to spread and invest in science and technology in the Packaging Industry of India. The changing trends in this sector are immense because of change in consumer behavior and technological innovations. The Packaging Industry needs to adapt to all the necessary innovations in terms of technology to fulfill the demand of consumers and meet global standards and the markets requirement.
To read the latest news on the Packaging Industry in India click Packaging Newsletter