Ranesh Bajaj to speak on building a sustainable future at LMAI

The global label and packaging market size reached USD 45.2-billion in 2022. And according to IMARC Groups' research, the market is expected to expand and reach USD 58.8-billion by 2028, exhibiting a CAGR of 4.17% during 2023-2028. “The significant growth of the F&B and the FMCG industries plays a vital role in driving the increased adoption of labels in the industry,”

In all this, Bajaj said the labels and the packaging industry need to adopt sustaining printing practices. In his presentation, Bajaj will be sharing a set of tangible filters or tools that brand owners and converters can use when they design their next label or package. “It will be a key game-changer on how to approach the markets now,” Bajaj said.

The DNA of any manufacturer is to create a machine for customers so they will have an asset that brings them many advantages (performance, quality, sustainability, cost efficiency) but also an open solution.

WhatPackaging? asked him what the machines he supplies offer? Bajaj said, “Our Lombardi presses, ABG series of finishing equipment, Iwasaki intermittent presses and Vinsak Series of USAR as well as inkjet systems, all are compatible with Industry 4.0 for automation and automatic exchange of information. This ensures open APIs and also ensures that you can create industry-specific dashboards for each organisation giving real-time updates.”

Generally speaking, it is clear that labels and packaging, more than ever, must have a purpose — literally, by being more functional, or metaphorically, by being designed to not only do its job but also to serve the broader purpose of advancing sustainability.

Bajaj agrees. He said, “Aesthetics may be important but functionality will always score over aesthetics. Hence, functionality is always important while designing a label or a package. And, sustainability is a new dimension which has been added. All brands are now under pressure to follow sustainable practices and communicate this effectively to the consumer. This adds a more formidable challenge to the packaging development team, and this is where we help brands in acheiving successfully.”

Our world needs sustainability and balance. Sustainability requires the end of planned obsolescence and environment-friendly technology. “From farm-to-fork or cradle-to-grave are no longer enough,” Bajaj said.

WhatPackaging? asked, why? Bajaj explained, “We need from farm-to-fork with the lowest carbon footprint for and from cradle-to-cradle again (fully recyclable) products as well as packaging in today's world to be able to engage with the millennial or the GenZ as they say to be able to grow our brands. All research in products, processes and materials are today dedicated towards these.”