Starting from being a repository source, food packaging has reached an age when it is called the 5th P of marketing. Those attached with marketing line are aware of the 4-P’s namely Product, Price, Place and Promotion. However, a few are aware of this elusive 5th P of marketing – Productivity.
There is a detectable shift in food packaging as more and more manufacturers are now using flexible packaging for their products. Interestingly, flexible pouch packaging products are lightweight, durable and space saving.
These convenient ergonomics make them a ‘big sell’ to the food industry.
These products are made from materials like aluminum, plastic and paper. The materials undergo a thorough conversion process like lamination, printing, extrusion and coating to develop diverse types of flexible packaging products.
The international packaging industry is likely to grow to $820 billion by 2016. The Indian packaging industry is growing at roughly 15% annually. It is projected to become the fourth largest across the world, with revenues of $43.7 billion in 2016.
Market research reports have also evaluated the flexible pouch packaging market in India to develop at a combined annual improvement rate of 15-16% in the coming five years.
Flexible Pouch Packaging Set to change the Indian Packaging Industry Radically
The statistics are giving new hope and indicating newer possibilities for the industry. This is especially true for SMEs working in the domain of flexible packaging.
Given the rapidly changing dynamics of the industry, there is a requirement to strengthen the knowledge levels of all the value chain members.
It would help them to learn about international standards via the finest practice sharing platforms and relevant capability building.
A majority of flexible packaging that’s manufactured gets utilized for packaging of food products. Therefore, food packaging should be given equal importance as food elements since the packaging material comes into contact with food.
In the packaged food industry, protecting customer health and maintaining the highest possible level of food safety standards should be the most important things. These two should become a targeted vision of the unified value chain of the industry.
To meet food safety standards, a robust partnership is required between all the elements of the packaged food supply chain. At the same time, sharing of best practices by each of them too is crucial. Flexible pouch packaging holds considerable prospects for emerging and existing enterprises.
Collaboration and innovative effort is the main requirement at this time to make the most of this rising demand for flexible packaging.