Indian packaging industry seeking more from OEMs

January 5, 2016 6:26 pm

  The Indian packaging industry is one of the fastest growing sectors in the country’s economy. Knowing the speed of growth and the scale, there are several opportunities which are expected to arise in this sector.
According to a news report, the packaging industry in India is currently valued at $24.6 billion. With the fuel from the recent government initiative of ‘Make in India’ and overall market growth the packaging industry is expected to grow to $32 billion by 2025.
To aid the growth of the packaging industry the major contributing industries shall be the food industry which is expected to grow 11 per cent annually to reach $65.4 billion (about Rs 4 lakh crore) by 2018, India’s retail market which is deemed to be another bright spot for the packaging industry is expected to grow to $865 billion by 2023, which is presently valued at $490 billion. One of the evergreen main revenue pillars of the packaging industry for years has been Pharmaceutical Industries which has been growing at 15 per cent consistently and looking ahead aggressively to compete in the global market
All these factors will be creating enormous opportunities for the packaging industries and the two main beneficiaries shall be industries catering in packaging materials suppliers and packaging machine suppliers which we famously call as OEMs.
While packaging was looked as branding and influence consumers, back in the factory sourcing, With advent of the 21st century the game has changed with more norms in place, the administration getting stringent with new policies and the consumer being more alert the need for coding and marking has been more hard pressed. Processing, production, packaging and coding plays vital role, these functions work overnight to create innovation in their processes and packaging towards achieving optimum quality and productivity. This is an area where an amalgamation of machine builder (OEM) with a manufacturer of variable coding and marking printers is needed so that the customer benefits from an holistic solution of innovative, creative packaging for their product along with legible code complying to the industry and government needs.
Packaging area includes Filling, sealing, capping, bagging, labelling, coding, shrink wrap, vision and inspection, track and trace, cartooning, warehouse management and many more as per the specific industry needs. For fulfilling those needs OEMs need efficient and reliable partners who fit in environment where they can customise solutions accordingly. Apart from customised solutions other pain area wherein an OEM look for partner who has coverage for after-sales service across length and breadth of the country.

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