Flexible packaging undoubtedly is a dynamic and innovative packaging format. A recent report by Transparency Market Research has predicted the growth of this sector globally to be around 5% (CAGR) from 2016-2024, while the projected growth in the emerging markets of Asia like India will be in the bracket of 15 – 20%.
In the present day and age flexible packaging is a big hit in the food, personal care and pharmaceutical industries. Food packaging among the FMCG sector is the largest end use segment in terms of both value and volume. The growing population and the concomitant demand for fresh and frozen foods, beverages, personal care products and pharmaceuticals are some of the factors responsible for the rising demand for flexible packaging. Backed by investments in technology, equipment and R&D, the flexible packaging industry will continue to remain encouragingly buoyant in the times to come.
Furthermore, rising consumer demand for better, lightweight, convenient, durable, tamper proof and aesthetic packaging has worked remarkably well in favour of flexible packaging. Constant innovations, R&D into developing advanced flexible packages have helped the industry to stay abreast with the changing trends and customers’ preferences.
Over the last few years, innovations in terms of product development towards barrier property parameters like absorbing food odours, retard oxygen migration, and longer food preservation have been driving flexible packaging. Engineers have incorporated better barrier properties leading to a longer shelf life and better functionalities of the flexible packaging solution. Flexibles are a great deterrent against moisture, microbes, change in temperatures, dirt etc thereby greatly extending the shelf life of food, detecting spoilage leading to less food wastage.
Sustainability is an important factor responsible for the growth of flexible packaging. Advantages like low raw material usage, less use of natural resources in the production stage, less waste as compared to traditional packaging formats, have made flexible packaging the favoured one amongst end consumers and manufacturers alike. Flexible packaging requires far less energy during the manufacturing, transportation and disposal stage. It has been proved beyond reasonable doubt that one truckload of empty flat pouches is equivalent to more than 75 truckloads of empty rigid containers. The post-consumer waste is re-processable, which again is a big plus. With intense competition in the market, the sustainability factor proves to be a shot in the arm for flexible packaging.
The flexible packaging industry has been developing innovative packaging solutions for various sectors and applications. UFlex being India’s largest global flexible packaging solution company is at the helm of delivering innovative packaging solutions through its continuous and improved R&D. The company with its roots in India is revered as a pioneer for driving innovation to create value added differentiation for its clientele world over. Continual product improvisation in terms of superior aesthetics; better functionality; enhanced barrier properties, infallible anti-counterfeiting/brand protection properties eco-friendliness have put UFlex in a unique league of its own.
Latest studies reveal that the per capita packaging consumption in India is quite low at 4.3 kgs, compared to countries like Germany and Taiwan where it is 42 kgs and 19 kgs respectively.The penetration of packaged products is barely 20%-25% in India.This gives a huge opportunity to packaging players like UFlex to grab the market pie which sooner than later will follow in footsteps of the western markets where the packaging penetration is almost close to 100%.
Hence, there exists a huge scope for innovations, entrepreneurships, infrastructure advancements in the flexible packaging industry in India. Concerted initiatives are required to convert the large unpacked segment into packed, processed, authenticated and well-presented goods. UFlex Limited stands committed towards this growth story in bringing the Indian flexible packaging market at par with the global market.
