Toppan: Max Speciality Films deal gives us bigger exposure to the Indian market 

Toppan and Max Speciality Films – together at PackEx India 2022

1319
Toppan Max PackEx Mumbai
The Toppan and Max Specialty Films teams together at their stand at PackEx India 2022 in Mumbai Photo PSA

The recent acquisition of Max Speciality Films will give Toppan a bigger exposure to the growing Indian flexible packaging market, Daisuke Kaneuchi, chief representative of Toppan’s Indian branch office, told Packaging South Asia at the recently concluded PackEx India 2022. 

Earlier this year, Toppan, which provides communication, security, packaging, décor materials, and electronics solutions, increased its stake to acquire a majority shareholding in Max Speciality Films, a leading Indian manufacturer of biaxially-oriented polypropylene (BOPP) films. 

Max, headquartered in Punjab, has been an equity method associate of Toppan since 2017 when Toppan acquired a 49% stake. Post the additional stake purchase, the Japanese company now owns 90% of Max.

“Toppan was mostly a Japan-focused company till about a decade ago. In the last 10 years, we have ventured outside of our home market as the growth there has plateaued. We are looking to expand globally. Acquiring the controlling stake in Max Speciality Films will give Toppan a bigger exposure to the fast-growing Indian flexible packaging market. The scope for growth in India is tremendous,” Kaneuchi said. 

Kaneuchi said the acquisition will support efforts to expand Toppan’s network for supplying recyclable mono-materials, to diverse customers in global markets, contributing to the creation of a sustainable society. Toppan operates a wide-ranging packaging business centered on GL Barrier, a transparent vapor-deposited barrier film that enjoys the leading share of its global market.

Barrier films in focus at PackEx 2022

Toppan and Max Speciality Films participated jointly for the first time in the PackEx India 2022 in Mumbai, presenting their high barrier films. Fusing Toppan’s barrier film and packaging businesses with Max’s production and marketing capabilities with extensive knowledge of the film sector and Indian landscape, the two companies showcased the Toppan GL Barrier films and packaging technologies.

Toppan presented its film products as well as barrier packaging materials in the form of microwavable packaging and paper-based composite containers. Max showcased their suitability for mono-material packaging, biodegradability, and outstanding barrier performance at the expo.

“We met many people from the packaging industry during PackEx India and tried to understand their needs. The interactions were great. The potential in the Indian market is huge. We had a good time at the expo,” Kaneuchi said. 

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 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
unnamed 1

NEWSLETTER

Subscribe to our Newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here