Good times are here!

India boasts of a robust population of 1.3 billion, half of whom are 24 years of age or younger. The country clearly holds abundant potential for economic growth. Likewise, the market for printing and packaging is expected to grow at a much higher rate, exceeding the country’s GDP growth rate. The maximum growth is in packaging which is growing at a rate of 15% per annum.

The size of the food ordering business over phone is $15 billion. In order to cater to the working young generation, a lot of new takeaway food joints are opening up, which provide economical but quality food options. People have also set up kitchens at home or garages to supply takeaway food. They list themselves on online apps like Zomato, Swiggy, Food Panda, Tiny Owl, etc, which are gaining momentum as people like to see the ratings of the restaurant before making a decision. This is fueling the growth of food grade packaging. Every packet of food is delivered in quality packaging, thereby giving a boost to the players engaged in this segment.

Even food chains like Domino’s which heavily engages in delivering food at the doorstep are extensive users of packaging materials. This trend will continue and packaging printers can heavily benefit from it.

The beginning of this year has seen many positive developments in the printing industry. Komori is now looking at a direct presence in India, by acquiring majority stake in Insight’s group company handling

Komori business. Insight Communications has been the distributor for Komori since 2007.

In an agreement announced recently, Xerox will be merged into the existing Fuji Xerox to form a new corporation called Fuji Xerox. In another strategic move, Muller Martini has taken over the perfect binding and bookline business from Kolbus. This also includes the service and spare parts business for all Kolbus bookbinding systems installed worldwide. While, Kolbus sets the focus on the packaging and case making business, parts manufacturing and the foundry business. The industry seems to be more focussed than ever before, clearly indicating good times ahead.

Happy printing!

Sonal Khurana
sonal@smediagroup.in