Pack-Man weekly round-up muster

Six headlines top headlines from PackMan. These include: Amul notches Rs 72,000-cr in FY23; India’s F&B packaging industry to reach USD 86 billion by 2029; Colgate to expand FMCG venture beyond oral care

24 Aug 2023 | By WhatPackaging? Team

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Amul rocketed Rs 72,000-cr in FY23

The Amul group witnessed a hike by 18.5% and had a turnover of Rs 72,000-crore in 2022-23. The company eyes to achieve an additional Rs 8,000-crore by the next fiscal.

Gujarat Cooperative Milk Marketing Federation (GCMMF) also aims to achieve a turnover of Rs 1-trillion by 2025, at a CAGR over 20%.  And to imagine, in 1973 its turnover was a mere Rs 121-cr.

Pack-Man crunched some numbers (and the numbers are staggering). Amul is the largest FMCG brand in India. Currently Amul is the eighth largest dairy in the world. Sector-wise growth is as follows: Ice-cream - 40%; Dahi - 40%; Beverages - 34%; Fresh milk - 20%; Long life milk - 20%; Butter - 19%; Ghee - 9%; Fresh butt​ermilk - 16%.

India’s F&B packaging industry to reach USD 86 billion by 2029

The All India Food Processors Association (AIFPA) said that the Indian food and beverage industry is estimated to scale up to USD 86 billion in the next five-six years, at a CAGR of 14.8%.

Pack-Man heard AIFPA’s western region chairman Prabodh Halde speaking at the Food Ingredients (Fi India) and ProPak India conference. Halde said, ““The current Indian food and beverage packaging industry is valued at USD 32 billion in 2022. It is estimated to grow more with a focus on sustainability as the industry shifts towards plastic-free and mono-packaging materials.”

Colgate to expand FMCG venture beyond oral care

Prabha Narasimhan, managing director and CEO, Colgate-Palmolive India said the company is looking forward to bringing in international brands in India to explore diverse FMCG fields. Besides, Colgate eyes for associate companies and D2C brands to invest in non-oral care.

Pack-Man has some trivia. Colgate is the single-largest penetration brand in India. 9/10 homes have a Colgate product in their homes​.

Nirma’s pharma plans to invest in Glenmark

According to media reports, Nirma “may acquire” 82.85% stake in Glenmark Pharmaceuticals. The motto is to focus on pharma, with presence in chemicals and healthcare.

Nirma generated a profit of Rs 1,198-cr in 2022-23, an increase of Rs 480-cr from the previous year. Nirma leads the acquisition race along with ChrysCap and Sekhmet​.

Pack-Man believes Nirma's acquisition spree shows its tenacity. From Stericon Pharma to Glenmark Life Sciences, Nirma is strengthening its foothold in the pharma industry, an integral part of India's economy.​

Emami targets 60,000 villages as part of rural outreach 

NH Bhansali, CFO at Emami, said that the company expects to achieve a steady recovery after fluctuating inflation in rural demand. Emami’s non-summer domestic portfolio noticed a 16% surge with growth in double digits.

“Except for the impact due to unseasonal rain, the growth has been good with improvement by 240 basis points,” added Bhansali. “This was driven by the reduction in the cost of raw materials.”

Pack-Man discovered Emami has been on the forefront for investing in multiple acquisitions including start-ups. In rural areas, the company aims to reach 60,000 villages by FY24.

Latest Poll

Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

22.22%

Corrugated boxes

 

44.44%

Paper bags

 

33.33%

Recyclable plastic (bubble wraps, bio-plastic)

 

0%

Total Votes : 9

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