Changing dynamics of packaging industry!
You can’t judge a book by its cover! Well, when it comes to packaging, it is the opposite. One is attracted to a product if it is aesthetically packed, with its content tamper-proof. Packaging not only protects, but also plays a big role in marketing. During Covid, one segment of the printing industry which continued to grow was packaging.
According to Allied Market Research’s report, the global digital printing packaging industry generated $20.6 billion in 2021, and is anticipated to generate $49.9 billion by 2031, witnessing a CAGR of 9.1% from 2022 to 2031.
The recently concluded Printpack India 2022 was testimony to the fact that packaging will continue to grow. There were host of products and equipments displayed for the packaging industry and many deals were sealed at the show.
Many visitors were seen looking for machinery for eco-friendly packaging products due to the ban on plastics from July 1. The Ministry for Environment, Forest and Climate Change had issued the notification last year in August announcing a ban on single-use plastic beginning July 2022. The ministry along with Central Pollution Control Board (CPCB) said on a notification, “The manufacture, import, stocking, distribution, sale and use of single-use plastic, including polystyrene and expanded polystyrene, commodities like cutlery items including plates, cups, glasses to name a few shall be prohibited with effect from the July 1, 2022.’’
Though everybody has welcomed the move, but the problem of right infrastructure needed to source locally cannot be undermined. Further, the cost of replacement of plastic with environment-friendly substitutes would have a direct impact on packaging costs. But, people are willing to move for eco-friendly solutions and many machines churning eco-friendly packaging products could be seen at the recently concluded Printpack 2022.
Another important growth area is rigid box manufacturing. According to this report by FMI, the global rigid boxes market is estimated to project growth at a CAGR of nearly 5% to 6% during the forecast period 2022-2032. With growing trend of premiumisation, luxury rigid boxes are increasingly being adopted across diverse industries. Keeping this in mind, we bring you a special feature on rigid box making machines.
The issue is packed with a detailed report on Printpack as well, along with all our regular features.