Food and Beverage Sector Driving the Premium Packaging Industry
Premium Packaging industry in India is anticipated to grow at a CAGR of around 21% during the forecasted period , says RNCOS in its latest report.
The premium packaging industry in the country is experiencing growth with the modernization and increasing need of good packaging. The consumers are ready to pay premium for both the product as well as its packaging. With the growing disposable income and relatively increasing demand of premium packaging, the industry is being driven at a CAGR of 21% during the forecasted period 2017-2022.
According to our latest research study, "India Premium Packaging Industry Outlook 2022",
Premium packaging plays significant role in strengthening the brand image amongst its consumers. Also, increasing trend of gifting on various occasions has become a customary practice in the country. With the advent of festive season, the premium packaged goods become the preferential choice of the Indian populace as a gift.
Further, new packaging materials that are able to retain maximum properties of food will continue to drive the packaging industry amongst the retailers. In the urban area, busy lifestyle, increasing acceptation towards premium product etc. makes India a suitable market for the investment in premium packaging industry.
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