As we move ever closer to a new year, it’s time to ask what kinds of trends, priorities and disruptive innovations we can expect 2023 to bring. Ranesh Bajaj, managing director of Vinsak, speaks about the year that has passed by, challenges and the industry’s expectations in 2023.
Manash Das: How has 2022 been for the packaging industry?
Ranesh Bajaj: Vinsak has successfully negotiated the tough period of the Covid. While capital good sales were impacted to some extent, 2021 has seen a recovery in demand with 2022 showing signs of a full recovery. The pandemic has also ensured that we learn to work in the Hybrid mode which in many cases it’s much more efficient.
We are lucky to have been in the packaging business where the impact was not so severe. Also, the groups geographically diverse operations across global markets and time zones have helped to even out the curve. Middle east and African markets have contributed greatly to keeping the balance sheets healthy. Service issues with new technology have really improved and uptimes are higher than ever before.
The future is to merge the Physical and the Digital. Hence the term Phygital was coined. More and more solutions are on leveraging digital solutions backed up by good physical properties to create a holistic packaging solution.
Manash das: What about challenges?
Ranesh Bajaj: Commercial print is surely now seeing an earlier end to its existence. Whatever can be digitized will be digitized and this is a normal that we have to live with. Labels and packaging will continue to grow exponentially and all those who need to continue to be in the printing business will surely need to retool their kits.
Manash Das: What can the industry expect in 2023?
Ranesh Bajaj: Packaging is the future and printers should surely look for niche solutions that they can create for packaging.
