The Indian Packaging Industry, growing at a rate of 15%, is expected to reach $ 73 billion in 2020 from $ 32 billion in 2015. In the coming years, the industry is anticipated to register 18 percent annual growth rate, with the flexible packaging and rigid packaging expected to grow annually at 25 percent and 15 percent, respectively.
In the Indian packaging industry, processed food packaging represents 48% of the total, personal care packaging is 27%, pharma is 6%, and the rest is 19%.
India is a growing market for plastics and consumes about 12.8 million metric tonnes (MMT) of plastics annually against global consumption of 285 MMT per year. The plastics and polymer consumption is growing at an average rate of 10 percent.
Globally the size of the flexible packaging industry is $ 771 billion. The Indian share is around $ 24.6 billion. Huge prospects lie with this segment of the industry.
The industry constitutes about 4 percent of the global packaging industry. The per capita packaging consumption in India is quite low at 4.3 kgs, compared to other countries like Germany and Taiwan. However, organised retail and boom in e-commerce, which offer huge potential for future growth of retailing, is giving a boost to the packaging sector.