Flexible packaging also scores over traditional packaging for reasons such as keeping the product from adulteration and moisture, convenience of disposal, and cost savings on transportation.
New analysis from Frost & Sullivan (chemicals.frost.com), Indian Flexible Packaging Market, finds that the market earned revenues of Rs.114,000 million in 2007 and estimates it to treble by 2014.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Indian flexible packaging market, then send an email to Remi Chatterjee/ Nimisha Iyer, Corporate Communications, at remi.chaterjee[.]frost.com/ niyer[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
“For a company to be successful in the Indian flexible packaging market, it needs to understand the end-user requirements and provide packaging materials that offer better barrier properties,” says Frost & Sullivan Consultant Rakhee Iyer. “Flexible packaging offers the advantage of packing smaller quantities compared to traditional packaging and hence, middle class consumers, who comprise a major section of the Indian society, have the choice of purchasing just the required amount of products.”
The flexible packaging market has got a boost from the growth in the processed food, personal care, and hygiene industries as well as the retail sector. The demand for smaller packaging and increasing consumerism due to higher purchasing power also bodes well for the market.
However, there is a certain lack of quality consciousness among end users and they tend to gravitate toward low-grade products, hampering the sales of flexible packaging. Additionally, the existence of more than 800 processors in the Indian market creates a fiercely competitive marketplace, fostering price wars.
Processors can dig deep into this fragmented market by making consumers more aware of the advantages of flexible packaging, offering superior-quality product lines, and pricing their products more attractively.
“The use of new polymers, which enhance the packaging requirements as well as facilitate innovative techniques for faster packaging, will help companies grow in the Indian flexible packaging market,” notes Iyer. “With the advent of metalized films and other novel materials, the industry will be looking at increasing the quality of the products and thereby, unit sales.”
At a compound annual growth rate of 17 percent, the Indian flexible packaging market is one of the most dynamic and fastest growing in the country. In fact, the market is expected to treble its output in the next seven years from 1000 kilotons in 2007 to 3100 kilotons in 2014 owing to the greater demand from the processed food, pan masala, and retail segments.
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Indian Flexible Packaging Markets