Rising brand awareness coupled with fast adaptation of western lifestyle are set to stimulate India's Rs 70,000-crore packaging industry to a staggering 22 per cent growth this year. Sustaining the global economic meltdown for the last two years, the Indian packaging sector has averaged an annual growth of 15 per cent in the last decade. The liquid food and beverage sector is set to further escalate the industry to newer heights. Related Stories * Bharat Forge, Motherson to see Q2 profits leap * Q&A: Jyotsna Suri, CMD, Bharat Hotels * US stocks eye strong September finish * 'Stimulus withdrawal will drive up car prices' Growing consumer spends towards packaged food and canned juice has fuelled the growth of the food and drinks sector to a 25 per cent growth in the last few years. If the current trend continues, India will surpass Turkey in the growth of packaging sector, said Udo Schürtzmann, managing director of Messe Düsseldorf India. The Germanay-headquartered Messe Düsseldorf organises bi-annual trade shows in India with the next "International PackTech India 2010 along with Drink Technology India 2010" scheduled between November 18-20 in Mumbai. The trade show that has attracted more than 200 exhibitors, is being organised in association with Messe München. To improve and develop transport routes, logistics systems and cold chains, foreign know-how is required. The demand for packaging and therefore the potential for packaging market is enormous, Schürtzmann added. Modern Packaging is all about quality, health and hygiene, and the growing awareness among the emerging middle class is contributing to it. Rising brand awareness is also stimulating demand of packaging articles. In particular the younger generation, which is strong in numbers and orienting towards a western lifestyle, is demanding attractive and concise packaging. This already consists of two to three hundred million people who are adopting western standards of living, including food, drink and consumption habits in general. The industry, therefore, is poised for a double-digit growth in the beverage, liquid food and food sector that requires support of appropriate investment by the beverage and food industry. Plants and machinery must be modernised or set up. The local Indian packaging industry still relies on global technological initiatives to meet its machinery requirements and know-how.
Back Packaging sector on enormous growth path
no news in this list.