Flint Group announces a global price increase for packaging products

The price rise may affect the supply chain of the goods

February 14, 2022

264

Flint Group Packaging has announced a global price increase across all Packaging product lines

Flint Group Packaging will increase the prices of all its packaging products sold by the Flexible Packaging, Paperboard, and Narrow Web businesses.

Further to multiple announcements advising of the worsening market conditions throughout 2021, the group has continued to weather unprecedented increases in raw material, packaging, energy, and freight costs. Escalating costs continue to be seen across all the above categories with no sign of relief in the foreseeable future.

Doug Aldred, chief commercial officer, Flint Group Packaging, said, “The security of supply is our number one priority. Due to our extensive global network and efficiency programs, we can mitigate a significant portion of cost and supply risk. However, we continue to witness tightening supply and exponential cost increases. Despite implementing an extensive range of efficiency programs to mitigate these conditions, we are reluctantly compelled to raise prices.”

Packaging South Asia — resilient, growing and impactful — daily, monthly — always responsive

The multi-channel B2B in print and digital 17-year-old platform matches the industry’s growth trajectory. The Indian, South Asian, Southeast Asian, and Middle East packaging industries are looking beyond the resilience of the past three years. They are resuming capacity expansion and diversification, with high technology and automation in new plants and projects.

As we present our 2024 publishing plan, India’s real GDP growth for the financial year ending 31 March 2024 will exceed 6%. The packaging industry growth will match the GDP growth in volume terms and surpass it by at least 3% in terms of nominal growth allowing for price inflation in energy, raw materials, consumables, and capital equipment.

The capacity for flexible film manufacturing in India increased by 45% over the past four years. With orders in place, we expect another 20% capacity addition in 2024 and 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels are grown similarly. As the consumption story returns over the next six months, we expect demand to return and exceed the growth trajectory of previous years. The numbers are positive for most of the economies in the region – and as shown by our analytics, our platform increasingly reaches and influences these.

For responsible and sustainable packaging, with its attendant regulations and compliances, there is significant headroom to grow in India and the region. Our coverage includes the entire packaging supply chain – from concept to shelf and to waste collection, sorting, and recycling.

We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers. This is a large and complex canvas – the only thing that can work is your agile thinking and innovation together with our continuous learning and persistence.

The coming year looks to be an up year in this region, and this is the right time to plan your participation and marketing communication – in our rich and highly targeted business platform with human resources on the ground. Share your thoughts and plans and to inspire and mobilize our editorial and advertising teams!

For editorial info@ippgroup.in — for advertisement ads1@ippgroup.in and for subscriptions subscription@ippgroup.in

– Naresh Khanna (25 October 2023)

Subscribe Now