Industry overview
In the year 2000, the Indian packaging market was valued at
US$ 300 million. Flexible plastic packaging was then the
fastest-growing Indian packaging category, and at the time of review,
had achieved a CAGR of 16.6%. With widening consumer preferences leading
to higher consumption of packaged goods, packaging plays a very visible
and catalytic role in modern economy. Attractive packaging that is both
safe and convenient naturally gains a larger market share. As a whole,
the packaging industry boosts consumption and in turn, economic growth.
Current industry
The annual growth rate for indigenous packaging machinery
remains at 11.8%, indicating that a large section of the industry is
still dependent on indigenous equipment. India’s per capita consumption
of 4.3 kg is quite low as compared to other developed countries that
have a per capita consumption ranging from 20 to 42 kg, which means that
there is a great opportunity for growth in the Indian retail market,
from which the packaging industry can only benefit.
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