The growing demand in India and around the world for flexible laminated packaging films has led to more focus and awareness on the 5th P – Productivity.
Sourced through Scoop.it from: valdamarkdirect.com
Flexible Pouch Packaging is the 5th Pillar of Marketing
Looking back food packaging has been seen as a simple commodity source product.
Fast Forward to today and its is no more important than ever. None more so than to marketeers who label it the 5th Pillar of marketing.
Marketers typically know the 4 P’s of product, price, place and promotion. Now though more awareness is being generated around the 5th – Productivity!
Usage of foil pouch packaging
has been growing consistently for decades now and shows no signs of slowing down.
More & more manufacturers are using flexible packaging for their products as they benefit from their durability, weight and space saving features.
These kind of ergonomics make pouches a ‘big sell’ as bulk packaging for food
that can be produced en mass in a cost effective way.
Most of what we see are multi layered laminated packaging film
materials. These are usually constructed from combinations of aluminium, plastic and paper.
These materials can be manufactured and converted in many ways. Techniques like lamination, printing, doping, extrusion and coating to name just a few.
It is expected that the global packaging market in general will grow to the tune of $820 billion by 2022. The Indian Packaging industry alone is expected to grow by 15% each year.
This puts in India in 4th place by global market size with total revenues of $43.7 billion in 2018. Specifically the flexible packaging market accounts for a significant portion of this and is expected to grow 15-16% in the next five years.
Flexible Pouch Packaging Set To Dominate The Indian Packaging Industry!
These statistics are very encouraging for the Indian Packaging Industry. Particularly the many small and medium sized start up’s that are looking to cater to the rise in demand for flexible packaging.
In fact the Indian Government has made it clear that it wants to educate key stakeholders in packaging manufacturers so that are more aware of international standards, best practice and regulatory requirements. The view here is that as the industry grows a skilled and informed labor force will be essential to maintain the momentum in the future.
It all comes back to the 5th P – Productivity.
They also want to put an emphasis on health and safety standards as the two largest proportions by market share are food and medical packaging.
Food safety standards and pharmacopoeia regulations require strong and robust supply chains to deliver product that conform.
Despite these challenges there is considerable opportunity to develop both new and existing markets.