Compack Sri Lanka is an industrial exhibition that focuses on showcasing the latest machines and materials used in the packaging industry. The 3rd edition of Compack Sri Lanka is scheduled to be held from August 25-27, 2023, at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo, Sri Lanka.
The event aims to bring together industry professionals, manufacturers, and suppliers from the packaging industry to showcase their latest products and services, explore new business opportunities, and network with potential partners.
The exhibition will showcase a wide range of packaging machinery and materials, including packaging machines, printing machines, labeling machines, filling machines, and packaging materials such as cartons, bags, and boxes. Visitors can also expect to see the latest innovations and technologies in the packaging industry, which can help improve the efficiency and sustainability of packaging operations.
The packaging industry in Sri Lanka has tremendous potential for growth, given the country's rapidly expanding consumer market, and the increasing demand for packaged goods across various industries, including food and beverage, healthcare, and cosmetics.
According to industry reports, the packaging industry in Sri Lanka is expected to grow at a CAGR of 5.5% between 2020-2025, driven by factors such as increasing urbanization, rising disposable income, and the growing popularity of e-commerce. This presents a significant opportunity for manufacturers and suppliers of packaging materials and machinery to tap into this growing market.
In addition, the government of Sri Lanka has also taken Various initiatives to support the growth of the packaging industry, such as the launch of the National Packaging Centre (NPC), which aims to develop packaging standards, promote eco-friendly packaging, and provide training and development opportunities for industry professionals.
Overall, Compack Sri Lanka is an excellent platform for businesses to showcase their latest products and services, explore new business opportunities, and gain insights into the rapidly growing packaging industry in Sri Lanka.
Sri Lanka is a growing market in South Asia, with a population of over 21 million people and a rapidly developing economy. The plastics industry is one of the key sectors contributing to the country's economic growth, with significant potential for further expansion.
There is a growing demand for plastics in Sri Lanka, particularly in sectors such as packaging, construction, healthcare, and consumer goods. The use of plastics in these sectors has increased significantly in recent years, driven by factors such as urbanization, rising incomes, and changing consumer preferences.
In addition to the domestic market, Sri Lanka's strategic location makes it an ideal gateway to the South Asian and Southeast Asian markets. The country's well-developed port infrastructure and trade agreements with neighboring countries offer opportunities for international businesses to access these markets.
Participating in the Compack Sri Lanka packaging industry exhibition can provide businesses with several benefits, including:
Exhibiting at Compack Sri Lanka provides businesses with the opportunity to showcase their products and services to a wider audience, which can help increase brand visibility and awareness.
The exhibition brings together industry professionals, manufacturers, and suppliers from the packaging industry, providing businesses with the opportunity to network with potential partners, customers, and suppliers.
Compack Sri Lanka provides businesses with insights into the latest trends and technologies in the packaging industry, which can help them stay competitive and informed about the market.
The exhibition provides businesses with a platform to generate new leads, identify potential customers, and develop new business opportunities.
Participating in Compack Sri Lanka allows businesses to showcase their latest products, innovations, and technologies to a relevant and interested audience.
However, Sri Lanka is highly dependent on imports for packaging materials and machinery from countries such as India and China. This presents an opportunity for businesses to tap into the Sri Lankan market and reduce the country's dependency on imports.
Furthermore, the Sri Lankan government has been providing more support for the plastics industry, including incentives such as tax breaks and subsidies to encourage investment in the sector. This creates a favorable environment for businesses to grow and compete with international companies.