The Indian food and beverage packaging trade, which is rising by 14.8 per cent yearly is anticipated to attain USD 86 billion in 2029, thanks to speedy urbanisation, rising disposable incomes, and evolving consumption patterns, in accordance to All India Food Processors Association.
Looking to money in on the chance, agri-products agency GMR Overseas has introduced a new product line. Notably, the new laws by FSSAI are driving progress within the sector, and packaging has developed from safety to advertising and marketing and sustainability.
In an change submitting, the corporate mentioned that it has launched 5 new packaged products as it seems to be to broaden its portfolio and market footprints. The new product line is in accordance with the standard, and reliability outlined by the FSSAI.
“With the addition of a new product line under 10X Shakti portfolio, the topline will see growth going forward. This is also an important and progressive move for domestic business,” Atul Garg, MD, mentioned in an announcement on BSE.
The new launches, in accordance to the assertion, will probably be obtainable by means of normal commerce and trendy commerce channels, with a particular concentrate on the varied e-commerce platforms to guarantee a wider attain.
GMR is a small-cap stock and is primarily engaged within the agricultural products trade. It is the third largest basmati rice exporter in India. Its shares have delivered multibagger returns to traders. According to BSE information, the stock has yielded a return of 600 per cent in 3 years and 900 per cent in 5 years.
According to All India Food Processors Association, post-Covid-19, the demand for pure food substances has surged, and this, in flip, is reshaping the panorama of the packaging food trade. The organised packaged ingredient market, which is valued at about Rs 20,000 crore yearly, is indicating a shift from free to packaged products.
