Indian Packaging Industry
- The Indian packaging industry is expected to grow to Rs.89,205crore by 2017 from the current Rs. 77,570crore. The global packaging industry is currently estimated at US$ 550 billion. Currently, India stands at the 11th position in the world packaging industry. It is estimated that more than 80% of the total packaging in India constitutes rigid packaging, which is the oldest and the most conventional form of packaging. The remaining 20% comprises flexible packaging. Due to lower manufacturing costs, India is becoming a preferred hub for packaging production. In India, the fastest growing packaging segments are laminates and flexible packaging, especially PET and woven sacks.
- The rise in organized retailing in India’s second-tier cities is opening huge opportunity for packaging industry. Companies are continually adding new products to their portfolio and packaging is a big tool for launching new,India-specific products in different shapes and Industrialization and expected emergence of the organized retail industry is fuelling the grow thin packaging industry.
- The Indian packaging industry can broadly be classified into rigid and flexible packaging. Rigid packing comprises of injection-moulded plastic containers, metal containers, wooden crates, paper board etc while flexible packaging comprises of paper, jute, cotton / plastic bags and pouches.
- The pace of growth will accelerate to between 20-25 percent over the next 5years. The highest demand for packaging & the associated equipment come from the food processing industry at 50 percent & from the pharmaceutical industry at 25 percent.