India Packaging Market Outlook

The indian packaging industry is expected to witness a strong growth in the coming decade, driven by an increase in both domestic and export demand. according to a report by deloitte, the indian packaging market size is expected to grow at a compound annual growth rate (cagr) of 9.5 percent to reach us$ 70.9 billion by 2032. the growth of the packaging industry is mainly attributed to the increasing industrialization, urbanization, and changing lifestyle of consumers, who are becoming more conscious of packaging. to meet the rising demand for consumer goods, manufacturers are focusing on the cost-effectiveness and convenience of packaging. this has led to increased demand for innovative and convenient packaging solutions, such as convenience packaging, flexible packaging, and high-barrier packaging. the increasing trend of online shopping has also stimulated the demand for packaging solutions in india. customers prefer online payment and delivery modes, which require special precautions and needs secure packaging. this has led to an increase in demand for high quality packaging materials. the growing trend of packing e-commerce goods is also driving the demand for packaging solutions. the rising demand from the fmcg, pharmaceuticals, and food and beverages industry is also expected to drive the packaging industry in india. in terms of materials used in packaging, rigid plastic packaging witnessed the highest growth in india, owing to its low cost and convenience of use. however, with regards to film and bag packaging, flexible packaging is expected to witness high growth, due to its flexibility, strength, and ability to replace rigid packaging. the growing demand from food and beverages sector for biodegradable packaging materials is another factor driving growth of the indian packaging market. the increasing use of eco-friendly packaging solutions can help reduce plastic and other hazardous materials from polluting both air and water. in terms of regions, the west region of india is expected to witness the highest growth in the packaging industry, due to increasing demand from the industrial and food and beverages sector. the southern region is expected to be the second fastest growing region, followed by the northern and eastern regions. in summary, the indian packaging market is expected to witness a steady growth over the next decade, backed by increasing domestic and export demand. the increasing trend of e-commerce and the focus on eco-friendly packaging solutions will further propel the growth of the packaging industry in india.