Due to fast urbanization, rising disposable incomes, and changing consumption habits, the Indian food and beverage packaging business, which is growing by 14.8% annually, is predicted to reach USD 86 billion in 2029, according to the All India Food Processors Association.
Agri-products company GMR Overseas has unveiled a new product line in an effort to take advantage of the potential. Notably, the sector is growing as a result of the new FSSAI laws, and packaging has advanced from protection to marketing and sustainability.
The firm said in an exchange filing that it has introduced five new packaged items as it seeks to diversify its product offering and market reach. The new product range complies with the FSSAI’s standards for quality and dependability.
“The topline will continue to expand as a result of the launch of a new product line under the 10X Shakti portfolio. Additionally, this is a significant and forward-thinking action for domestic company, according to Atul Garg, MD, in a statement on BSE.
The statement claims that in order to assure a larger audience, the new releases will be made accessible through general trade and contemporary trade channels, with a specific emphasis on the different e-commerce platforms.
Small-cap stock GMR focuses mostly on the agriculture goods sector. It is India’s third-largest exporter of basmati rice. Investors have received multibagger returns on their investments. The stock has returned 600% in three years and 900% in five years, according to BSE statistics.
The landscape of the food packaging sector is changing as a result of the post-Covid-19 spike in demand for natural food components, claims the All India Food Processors Association. A transition from loose to packaged items is being signaled by the organized packaged ingredient business, which is estimated to be worth roughly Rs 20,000 crore annually.
Conclusion:-
The Indian food and beverage packaging industry is expected to reach USD 86 billion in 2029, driven by rapid urbanization, rising disposable incomes, and changing consumption habits. GMR Overseas, an agricultural products company, has introduced five new packaged items to diversify its product offerings and market reach. The new product range complies with FSSAI’s standards for quality and dependability. The company plans to make the new releases accessible through general trade and contemporary trade channels, with a focus on e-commerce platforms. GMR focuses on the agriculture goods sector and has experienced significant returns on its investments, with the stock returning 600% in three years and 900% in five years. The food packaging sector is changing due to the post-Covid-19 surge in demand for natural food components, signaling a transition from loose to packaged items.
