The retail sector in India is growing at a fast pace. According to the Global Retail Development Index 2017, India ranks first among the top 30 emerging markets for retail. Further, increased consumerism with a capacity to spend on luxury items and increased spending power in the hands of Indians has propelled the organized retailing in the country. The country is witnessing a major shift towards organized retail sector. This has lead to more demand of corrugated packaging by retailers as the packaging plays an important role in retail goods. For future, the corrugators of the country are counting big on demand from organized retail.
Speculating the growth prospects of Indian corrugated box industry, Shushmul Maheshwari, Chief Executive, RNCOS said Further, rise in organized retailing in India’s tier II & III cities have made the country a competitive market for packaging companies. Among all retail sectors, food and grocery, apparel, electronics, e-commerce, fashion and lifestyle are the few emerging sectors. Driven by the above demand, progressive Corrugators are setting up automatic board/box making plants to increase production and enhance performance of boxes. In house printing on corrugated is becoming imperative.
Modern packaging technology has made major contributions to advancing food safety and reduction of food spoilage. A huge reduction in goods wastage during handling and transportation has been achieved due to more robust and flexible automatic corrugated boxes. Another critical factor for an upper hand of automatic boxes over manual or semi-automatic boxes is that big companies need bulk supply of quality packaging material that small vendors are not able to achieve.
Large automatic plant owners take the advantage and earn better margins due to economies of scale and lower costs of production. In the coming years, the industry shall experience complete transition in terms of players operating. Either the small manufacturers shall vanish from the market or will upgrade to automatic plants which is the need of the hour.
To tap the growing market, numerous major players such as TCPL Packaging Limited, Horizon Packs, TGI Packaging Pvt. Ltd. etc are continuously innovating and developing their brands to best suit the Indian market. Indian Corrugated box industry might exhaust its full potential and grow exponentially.
With over a decade of experience in providing business solutions/ market research and consultancy, RNCOS acts a growth partner to venture into and understand business environment better by providing solutions in all the business endeavors of our customers, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help the business prosper by providing our customers with actionable market intelligence and insights by studying the market dynamics, collating with the business and devising the right strategies.
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