The packaging industry is looking through a green filter for its sustenance and global welfare.This has been witnessed by the growth of Eco friendly packaging sector growing at 25 percent within the overall packaging sector's growth of 20 percent annually.
The study on ‘Domestic Green Packaging Industry prepared' showed, rising environmental concerns about carbon emissions, dearth of natural resources together with increased health awareness and waste reduction targets were certain key growth drivers of green packaging innovations in India.Added to the other issues the government's unstable position on the plastic bags usage has leveraged an extra headache to the manufacturers posing them to shift to the promising environmental friendly packaging methods.
Statistics show that
Nearly 45 per cent of manufacturers are increasingly adopting renewable packaging technologies, environment-friendly light materials and cost-effective methods which would increase consumer awareness.
Further, about 75 per cent of manufacturers are gradually reducing usage of non-decomposable plastic bags and seeking support of local grocery stores, vegetable and fruit vendors, hawkers to promote usage of paper bags.
This business is one of the lucrative sectors to indulge into due to the following factors
1.Packaging industry is an ever growing field.
2.Indian market is right on the edge of becoming a global retail hub.
3.Awareness of plastic bags is growing steadily.
4.ROI on Eco-friendly bag manufacturing is comparatively high with the proper market.
5.Easy loans
6.Very less space required for manufacturing.
7.Proper power saving devices would definitely increase the profit margin in a long run and would reduce maintenance cost to some extend.
and to lots to say
My marketing professor once told me that ' a right businessman would know when to start a business and also know when to shut the business' .entrepreneurs looking forward for investment have a great opportunity right on their lap.Grab it soon.
Interested entrepreneurs can contact me with any question any time of the day.
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