India's Dynamic Flexible Packaging Market: A Comprehensive Overview

MUMBAI, India - Jan. 9, 2024 - PRLog -- Growing Market Dynamics
India's flexible packaging market is poised for substantial growth, projected at a remarkable 10.1% rate, according to Makreo Research. Biaxial film production has doubled its capacity from 1.3 million to 2.6 million tons by March 2022, indicating a thriving industry. The Packaging Industry Association of India reports a staggering annual expansion of 22% to 25%, positioning packaging as the fifth-largest industry by market size.

Composition and Transition
Flexible packaging, primarily composed of monolayer, multilayer, and laminate sheets of polymers like PE, PP, PET, and PVC, constitutes over 60% of the market. Notably, polyethylene and polypropylene collectively dominate the sector. The industry is witnessing a shift from rigid to flexible packaging, with major companies opting for versatile solutions in sectors such as beauty, food, and healthcare.

Per Capita Consumption and Retail Boost
Despite a low per capita packaging consumption of 8.7 kg in India compared to global counterparts, organized retail and a thriving e-commerce sector provide substantial growth potential. The grocery and food sector, ranking sixth globally, further drives the demand for flexible plastic packaging, offering solutions to diverse packaging challenges.

Key Facts in Paper Packaging
Packaging is the fifth-largest sector in the Indian economy, with over 900 paper units and an installed capacity of 30.73 million tonnes. India stands as a net exporter, particularly in Biaxially-oriented Polyethylene Terephthalate (BOPET) and Flexible Intermediate Bulk Container (FIBC). The industry also permits 100% foreign direct investment (FDI) under the automatic route.

Innovations and Future Projections
In response to increasing demand, new product developments and innovations are shaping the market. Metallized High Barrier Easy Tear Polyester Film and Transparent High Barrier Easy Tear Polyester Film are examples of cutting-edge packaging solutions. With a projected CAGR of 13.9%, the India Flexible Packaging Market is expected to reach USD 18.34 Billion by 2028, driven by evolving trends, rising consumption, and technological advancements. The Makreo Research study provides a comprehensive analysis, making it a valuable resource for those interested in understanding market trends, consumption statistics, and polymer pricing in India's dynamic flexible packaging landscape.

To Know More-
India Flexible Packaging Market Analysis and Forecast (2018-2028) (https://www.makreo.com/report/india-flexible-packaging-ma...)

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