Here are 7 facts about India and its packaging industry that you would enjoy reading.
1. According to the Packaging Industry Association of India (PIAI), the packaging sector is currently the FIFTH largest economic sector of India and is growing at 22% to 25% per year.
2. Packaged food is the fastest-growing segment in the Indian packaging industry. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), the expenditure on packaged foods is increasing (at inflection point), due to an overall increase in per capita income, urbanization, and an increase in the number of working women. This is a positive reflection of Indian economy, but can also indicate an increase in single-use plastic waste.
3. In the Indian beverage packaging market, materials such as rigid plastics and glass account for 70% of the total packaging sector. PET is the material most used to package water, accounting for around 55% of India’s packaged water market.
4. According to a report by the Indian Packaging Institute in 2018, Paper is the fastest-growing segment within the Indian packaging industry, experiencing a demand of 6 million tons each year. About 40% of the paper which is consumed in India goes through the packaging industry.
5. The Indian Brand Equity Foundation says the flexible packaging industry in India is a segment valued at nearly $1 billion. It has been growing at an average rate of 20% since 2010.
6. According to FICCI in 2018, plastics comprise about 40% of the packaging produced in the Indian packaging industry, combining flexible and rigid plastics into the same category. Cardboard products make up another 31% of the industry.
7. The Indian packaging industry provides about 4% of the total value available within the global packaging industry, according to FICCI.