Before the covid-19 pandemic, we had all attended gatherings where a simple large tray of biscuits was placed on a table for everyone to grab from, and we all grabbed and dipped our biscuits without much concern. But times have changed. Today, would you be the second person to take the biscuit from a tray? It isn’t very likely. It’s no wonder the whole packaging industry has undergone sea changes in a short interval. 

 

According to a report by Mordor Intelligence, the packaging industry in India is expected to have an exceptional future ahead, growing at a whopping CAGR of approximately 26.7 percent during 2022–2027. It’s a mountain of opportunities but not without the same level of challenges. Prashant Mehra, President & CEO, SRF Limited—a multi-business chemicals conglomerate engaged in manufacturing industrial and specialty intermediates, navigates us through the prospects the industry puts forward in the post-covid era through an exclusive interview with us. Prashant is a chemicals industry expert with more than 25 years of robust professional experience.

 

In conversation with Prashant Mehra, President & CEO, SRF Limited  

 

With the growing demand for packaging solutions and technological innovations in the Indian market, could you walk us through the latest trends in the industry after the COVID-19 pandemic?
Packaging materials play an essential role in protecting and transporting material, especially food products. The Covid-19 pandemic has significantly increased the focus on the safety and hygiene of various food products being consumed. Since flexible packaging is one of the most important and widely used food packaging materials with minimum carbon footprint, high barrier properties, and versatility, demand for flexible plastic packaging is backed by solid fundamentals.

 

Though flexible packaging offers multiple benefits, its after-use waste disposal remains a challenge due to multiple reasons and often ends up as municipal solid waste (MSW) and marine debris.

 

Some packaging industry players, such as SRF and associations, are working hard to bring waste material back into the economy by offering ‘Circular Economy’ or ‘cradle to cradle’ solutions. The ‘3R’ approach – Reduce, Reuse and Recycle – is fundamental to our operations.

 

The recycling of packaging is turning into a significant business segment with immense potential for value generation from waste. For instance, the recycling of PET material through the mechanical recycling process is quite mature and a well-established process. The recyclates achieved by recycling PET (bottle & trays) are a good-to-go for food packaging end-use as it qualifies the guidelines laid out by the Food Safety Authorities.

At SRF, we have a dedicated team of experts working toward making our offerings and solutions more sustainable for creating a positive impact on the environment. We follow a three-pronged approach focused on ‘Reduce, Reuse and Recycle.’ 

 

In addition, in my view, the following key technological trends are emerging in flexible packaging post the COVID-19 pandemic: (i) Growing demand for ship-ready packaging driven by booming e-commerce, (ii) increasing demand for packaging material with higher barrier properties, driving product innovation, and (iii) increasing digitization of supply chain driving the need to integrate technology with packaging.

 

Aside from COVID-19, what factors are currently responsible for nudging innovation in the industry?
To be able to contribute towards the larger cause of minimizing the carbon footprint of their end-product, many of our customers are focussed on finding environmentally responsible, recyclable, and sustainable packing solutions. They are increasingly collaborating with like-minded professional packaging organizations with the required infrastructure and resources in place to address sustainability concerns. It leads to an increase in finding innovative solutions and practices so that the industry can stay ahead of the curve. The aspects like pack visibility, shelf life, and high barrier properties are being sought.

 

 

Despite the menace around disposal, plastics supposedly emit lower greenhouse gas than paper, jute, and several other materials. How do you perceive the industry’s environmentally sound and sustainable operations?
At SRF, we have a dedicated team of experts working toward making our offerings and solutions more sustainable for creating a positive impact on the environment. We follow a three-pronged approach focused on ‘Reduce, Reuse and Recycle.’ Under these, we are offering multiple product solutions to the market, such as Film with Post Consumer Recyclates, down-gauged films, recyclable solutions under mono-family structures, and biodegradable solutions, to name a few. We have already established 90 percent post-consumer recycle (PCR) based BOPET Films, helping the industry contribute toward the attainment of a ‘circular economy.’ Further, we have committed sizeable investments to use green energy at multiple locations and reduce our carbon footprint.

 

We are glad to share that SRF has recently won a prestigious award on Quality & Sustainability by International Academy for Quality, a well-reputed global forum for promoting quality & sustainability initiatives.

 

How do organizations ensure providing a holistic experience to the customers?
From the SRF perspective, I could tell you about our Packaging Films Business’ USP of being an ‘Easy to Do Business with (ETDBW)’ business partner to all our customers. Whether they are global FMCG/ packaging giants or our customers back home in India, what makes ETDBW work for us is the fact that every team member is aligned with the overall business objective of delivering superior value to the customer.

 

In addition, our products conform to global safety standards and regulatory requirements. These products are characterized by best-in-class mechanical, optical, thermal, surface, and barrier properties and are sold under two brand names, namely PETLAR for the entire range of BOPET films and OPLAR for BOPP films.

 

Furthermore, our processes and products have earned numerous international certifications like ISO 9001 for Quality Management, ISO 14001 for Environment Management, OHSAS 18001 for Health & Safety, ISO 22000 for food safety, SA8000 for Social Accountability, and ISO 50001:2011 for Energy Management.

 

What is the scope of employment opportunities in this space?
Flexible packaging is an essential, and as of today, an irreplaceable part of our lives. There is a vast scope of employment opportunities in this space. The Covid-19 pandemic has renewed the focus on ‘hygiene’ driving demand for FMCG packaging. With increased demand, most of the packaging films companies in India and overseas are expanding and adding new capacities.

 

SRF is dedicated to human capital through employment creation and a commitment to creating tailored solutions that make the greatest difference to our customer base. It is SRF’s fundamental belief that machines do not create satisfied customers. It is our people. We believe this is the SRF differentiator.

 

Our passion for performance drives us to achieve our goals of total excellence, consistent quality, and long-term strategic partnerships.

 

How do you perceive the changes in market behavior and opportunities in the industry in the post COVID era?
Despite criticism from some quarters, the use of plastics is increasing, and so is the waste. This, I believe, provides a huge potential for bringing recyclable packaging material back into the system—both in terms of reducing the amount of waste generated as well as reducing costs for the film manufacturers by using more recycled products.