Tuesday 7 July 2015

PET Packaging Drives Consumer Market in India

Walk into your neighbourhood grocery store, a super market in the city or one of the posh malls and you will find a particular commonality among all these. Yes, it is the wide range of beverages, syrups, sauces, ketchups and edible oils, items of personal care like shampoo, creams, lotions etc. and detergents. All of these come in the same manner of colourful packaging and assorted shapes in PET format.

PET, acronym for polyethylene terephthalate, is a chemical formulation of plastics that has revolutionised the mode of packaging around the globe. All these polymer-based bottles and jars are an outcome of applications of technology involving PET preform molds and dies. It is a technique of extrusion in which the molds and dies enable the desired shape and size of the container meant as a packaging medium. Indeed, it is a precision-oriented engineering industry that calls for numerous intrinsic technicalities in design, development and the ultimate manufacture. 

As for preform molds India has certain select companies that are engaged in this industry. One of them is the Delhi NCR based Ashish Tools, an ISO 9001:2000 certified company offering turnkey solutions to the PET packaging segment. Today this company serves hundreds of customers at home as well as over 20 countries worldwide. With more and more FMCG favouring PET means of packaging, this company has geared up to meet the future challenges.

The changing dynamics of the Indian market and the rising aspirations of middle class consumer have led fast moving consumer goods (FMCG) companies to make some changes in their global strategy to succeed in India. These were the observations of Aparna Dutt Sharma, CEO of the country’s premier monitoring agency, Indian Brand Equity Foundation (IBEF) while commenting on the perspectives of consumer markets. Citing certain estimates, she opined that India’s retail FMCG market could grow from the present US$ 10 billion valuation to US$ 100 billion by 2024-25. At present, FMCG is the fourth largest sector in the Indian market, noted Ms. Dutt Sharma.

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