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Packaging Industry in India - Growth, Trends, Forecasts (2020 - 2025)

Packaging Industry in India - Growth, Trends, Forecasts (2020 - 2025)

  • May 2020
  • 181 pages
  • ID: 5867471
  • Format: PDF
  • Mordor Intelligence LLP

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The India Packaging Market was valued at USD 50.5 billion in 2019, and it is expected to reach USD 204.81 billion by 2025, registering a CAGR of 26.7% during the period of 2020-2025.

- Owing to the rising population, increasing income levels, changing lifestyles, increased media penetration through internet, and television and growing economy, the demand for packaging is growing. Moreover, it is one of the strongest growing sectors in the country. According to Care Ratings, a prominent credit rating company in India, more than 49% of the paper produced in the country is used for packaging purposes.
- The rapid growth of the market is primarily driven by the pharmaceuticals and foods and beverages industries. Huge investments in the food processing, personal care, and pharmaceuticals end-user industries are creating scope for expansion of the packaging market. According to a recent data released by the Associated Chambers of Commerce and Industry of India, the market size for organized packaged food is expected to reach INR 780 million, in 2020, from INR 530 million, in 2016.
- The rise of the Indian middle class, rapid expansion of organized retail, growth of exports, and India’s rising e-commerce sector are further facilitating growth. According to the Indian Institute of Packaging (IIP), the packaging consumption in India has increased 200% in the past decade, rising from 4.3 kg per person per annum (pppa) to 8.6 kg pppa.
- With the recent outbreak of COVID 19, the packaging manufacturers are facing supply chain disruption along with decreasing manufacturing at the site in many parts of the world. To ensure the smooth flow of supply chain, Global Food Safety Initiative (GFSI) certification programs are providing six-month certificate extensions by conducting a remote audit and risk assessment pertaining to COVID-19 such that the company can approve a new supplier location without an on-site audit to meet the demand.

Key Market Trends
Food Industry is Expected to Hold Largest Share in the Market

- The food packaging industry in India witnessed major innovations, in terms of branding and packaging. For instance, iD Fresh has introduced Smart Sip Tender Coconut and iD Grated Coconut, in an innovative eco-friendly packaging. Many popular brands, like Amul, Mother Dairy, Patanjali, and others, are using UV protected films, color-changing films, and holographic films to reduce the chance of adulteration of their products.
- Packaged food is the fastest-growing segment in the Indian packaging industry. It is expected to fuel the demand for plastic packaging, as it ensures food quality, safety, and long shelf life. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), the expenditure on packaged foods is increasing (at inflection point), due to an increase in per capita income, urbanization, and an increase in the number of working women. According to Agriculture and Agri-food Canada, the sales of packaged food in India amounted to USD 76,284.2 million in 2018, and it is expected to register a CAGR of 18% during the forecast period.
- In India, the grocery market is a traditional retail industry, and therefore, the penetration of online retail is even lower. The expenditure on food and grocery accounts for 60% of the total expenditure on retail in India. However, the food delivery and services market is fostering further growth in the country, with players, like Bigbasket, Grofers, Zomato, Swiggy, Scootsy, registering a rapid increase in sales. According to a study conducted by the Ministry of corporate affairs (India), the revenue generated by Swiggy and Zomato in India in FY 2018 was INR 4.42 billion and INR 4.66 billion, respectively.

Plastic Packaging to Have Significant Market Share

- The industries where plastic bottles and jars are mostly used in the country include food and beverage, cosmetics and personal care, and pharmaceuticals industries. Polyethylene terephthalate (PET) and HDPE are the preferred materials for the manufacturing of bottles and jars in India. There are some applications, where PVC is still being used to manufacture bottles, jars, and vials. However, due to the increasing environmental concerns, the manufacturers are trying to shift to PET and HDPE.
- Companies, such as Bizongo, is manufacturing the first biodegradable spill proof meal tray to promote sustainability in the packaging ecosystem.
- Stand-up pouches and pillow pouches are some of the most common types of pouches used in the country. The increasing dairy consumption (especially milk, yogurt, and cream products) and the rising export of dairy products are driving the demand for pillow pouches.
- Plastic bags are among the most used plastic packaging solutions in the country. The growing supermarket chains and kirana stores are some of the major factors driving the growth of plastic bags in the country.

Competitive Landscape
The Packaging Industry in India is fragmented in nature, owing to the several players competing to improve their market share. With the rising demand for packaging applications, along with technological advancement across the Indian economy, many companies are increasing their market presence by expanding their business footprint across various end-user markets. Major players include WestRock India Pvt. Ltd, OJI India Packaging Pvt. Ltd, Deccan Cans & Printers Pvt. Ltd, among others.

- February 2020 - Parksons Packaging and HP India introduced a digital printing press for carton packaging. Parksons installed its first HP Indigo 30000 digital press which is also the first B2-format (20 x 30 inch) digital press in the Indian folding carton industry.
- October 2019 - Piramal Glass recently outlined its investment plans of EUR 30 million, in its premium perfume manufacturing unit. It will invest EUR 15 million into its Kosamba, India container glassmaking site, to add three production lines and meet the increased demand.

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