Packaging Industry is turning out to be one of the predominant sectors in India. The kind of rapid changes which are taking place in efficient packaging systems development, India is also working on a significant market share in the global packaging and labeling industry. As per the research stats of the companies, where the global market of packaging industry is expected to touch US$ 820 billion by 2016, Indian market is expected to touch $14 billion by 2016 and also have a considerable growth. The factors which could be attributed to such a growth is the consumer demand, the advent growth of retail sector, and the infrastructural advancements.
Globally the companies in this Industry are facing numerous challenges of handling customer preferences, sales competition, product quality endurance. Despite of adapting new trends and upgraded systems like aseptic packaging, retort packaging and biodegradable packaging to enhance the shelf life of food products. More than 600 to 700 types of packaging machines and equipments are manufactured by SME sector. This emerging opportunity for the packaging industry is giving rise to new prospects in India.
The kind of standard growth in the income levels in rural parts of India has leveraged the companies with the prospective market and demand from the consumer market for smaller packs of consumables, has become the buzz for the industry. Consumers started preferring to have their purchases in smaller quantities and the wholesalers have to resort to repackaging of goods in to smaller quantities. This trend is more relevant to personal care products, toiletries, cosmetics, and health care products too.
The kind of growth which is taking place in the per capita income of the metro population has indirectly resulted in demand for purchase of the food and other processed items which can be stored for little longer duration, and this resulted in the demand for metal packaging. Food that are stored in the metal cans can be considerably kept fresh for little longer duration than the conventional packing. Hence this demand from the changing life style of the customers has become a boon for the Indian packaging and labeling industry.
Environmental safety concerns have impacted the growth of the plastic based packaging materials market and there was a significant blow to the industry due to the government regulations and policies in favor of ecological issues. However the ever changing dynamics of the industry, innovation of eco-friendly packaging products has uplifted the industry and today the Indian market is competing to the global standards.
If the government and the regulatory authorities concerned work towards supporting the industry with some Special packages for the growth of the Industry, packaging industry can be one of the very prospective sectors contributing to the growth of Indian economy.