Indian packaging industry, with a turnover of $24.6 billion and a growth rate of 13% to 15% annually, is expected to reach $ 32 billion by 2020. Packaging has an annual global turnover of about $ 550 billion, and India’s share is about $16.5 billion per annum.
The growth of the Indian packaging industry is heavily influenced by changing demographics such as growing urbanization and the rising proportion of middle class consumers. These changes drive the need for new packaging formats, such as different sizes, materials, and strength.
The industry constitutes about 4 per cent of the global market. The per capita packaging consumption in India is quite low at 8.7 kg compared with countries like Germany and Taiwan where it is 42 kg and 19 kg, respectively. As the requirement for packaging is rising across sectors with traditional businesses preferring to package products, and the retail and e-commerce growing rapidly, the sector is growing at a robust pace. The industry certainly presents potential growth opportunities for new entrepreneurs, and small and medium enterprises.