India Flexible Packaging Market to Grow at 10.1% CAGR - Key Innovations, Leading Players, and Rising Export Potential

According to Makreo Research, the packaging industry in India has seen substantial growth, with an annual growth rate of around 22-25% recorded in 2021. Today, packaging ranks as the fifth-largest sector in the Indian economy and has consistently shown growth over recent years. This expansion reflects a strong potential, particularly in export markets. Key exports from the packaging industry in India include flattened cans, printed sheets, crown corks, lug caps, plastic film laminates, kraft paper, paperboards, and packaging machinery. The industry's major imports include tinplate, coating and lining compounds, and various raw materials.

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India Flexible Packaging Market Analysis and Forecast (2023-2028
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► Key Segments in the Packaging Industry in India: Rigid and Flexible Packaging
The Packaging Industry in India is primarily composed of two main segments: rigid and flexible packaging. While rigid packaging currently dominates the market share, flexible packaging is rapidly expanding, especially for PET and woven sacks. Within the India Flexible Packaging Market, demand has notably increased for laminates and biaxially oriented films. This growth is backed by recent capacity expansions in biaxial film production, which doubled from 1.3 million tons in 2019 to 2.6 million tons by March 2022, reinforcing the Flexible Packaging Market in India as a thriving segment.

► Growth Projections for the India Flexible Packaging Market
The India Flexible Packaging Market is set to maintain its strong growth trajectory, with a projected annual growth rate of 10.1%. This sector is benefiting from ongoing advancements in film production technology, along with rising demand for flexible, lightweight, and durable packaging solutions in both domestic and global markets.

► The National Packaging Initiative
The Indian government has introduced the National Packaging Initiative to support and boost the sector's growth. Key measures under this initiative include:

• Guidelines and Standards:
Establishing requirements for design and materials in packaging to ensure safety, sustainability, and efficiency.

• Bulk Processing and Distribution:
Promoting packaging and distribution processes to support the movement of products in bulk quantities.

• Centralized Industrial Activity:
Encouraging the establishment of specialized infrastructure, such as logistic parks and packaging laboratories for design testing and innovation.

• Waste Reduction Efforts:
Initiatives to decrease packaging waste through the establishment of Material Recovery Facilities (MRFs).

• Domestic Manufacturing Support:
Enabling domestic manufacturers to produce advanced packaging materials and products.

• Skill Development:
Establishing certified training programs to maintain a skilled labor force for the packaging sector.

► Leading Companies in India's Flexible Packaging Sector and Recent Developments:

► Uflex Ltd.
• Overview: Uflex is one of India's largest flexible packaging manufacturers and is globally recognized for its comprehensive solutions.

• Developments:
- Recyclable and Biodegradable Solutions: Uflex has pioneered initiatives to create recyclable multi-layer packaging solutions, aligning with India's emphasis on sustainability.
- Capacity Expansion: To meet rising demand, Uflex expanded production capacities, especially in biaxially oriented film and PET film production.
- Anti-Counterfeit Solutions: The company has developed specialty films with anti-counterfeit properties, catering to industries with high risks of product piracy.

► Cosmo Films Ltd.
• Overview: Known for its expertise in specialty films, Cosmo Films is a major player in packaging, labeling, and lamination.

• Developments:
- Specialty BOPP Films: Cosmo Films has launched specialty biaxially oriented polypropylene (BOPP) films tailored for food and beverage applications.
- Green Innovations: The company has focused on sustainable packaging by developing recyclable films and high-barrier structures that reduce material use while enhancing protection.
- Expanded Global Reach: With production facilities outside of India, Cosmo Films is positioned to meet global demand, particularly in Europe and North America.

► Essel Propack Ltd.
• Overview: Essel Propack is a leading manufacturer of laminated plastic tubes, particularly for the personal care and pharmaceutical sectors.

• Developments:
- Sustainable Tubes: The company has introduced recyclable laminated tubes to reduce the environmental impact of flexible packaging.
- Focus on Premium Products: Essel Propack has shifted toward producing higher-value products to cater to premium brands in personal care and pharmaceuticals.
- Regional Expansion: Essel Propack has invested in expanding its production in both domestic and international markets, focusing on Southeast Asia and Africa.

► Jindal Poly Films Ltd.
• Overview: Jindal Poly Films is a key player in the production of polyester and polypropylene films, offering a wide range of packaging solutions.

• Developments:
- Advanced Film Technologies: The company has introduced new film varieties, including heat-sealable, high-barrier, and metalized films, to cater to various packaging needs.
- Eco-friendly Films: Jindal has invested in the research and development of eco-friendly packaging materials.
- Global Growth: Jindal Poly Films is expanding its global footprint with additional production facilities and partnerships abroad, especially in Europe.

► Amcor Flexibles India
• Overview: Amcor Flexibles is part of Amcor Plc, a global leader in packaging solutions, with a strong presence in India for both rigid and flexible packaging.

• Developments:
- Sustainability Commitments: Amcor is actively working towards 100% recyclable or reusable packaging by 2025.
- Innovation Hub: Amcor has established R&D facilities in India to innovate in lightweight and sustainable flexible packaging solutions.
- E-commerce and Pharma Focus: With the rise of e-commerce and pharmaceuticals, Amcor has launched new packaging solutions that prioritize durability and consumer convenience.

► Future Outlook for Flexible Packaging in India
The flexible packaging market in India is set to grow robustly, driven by innovations from top companies and the increasing consumer and regulatory emphasis on sustainability. With companies heavily investing in recyclable materials, eco-friendly technologies, and regional expansion, India's flexible packaging industry is not only expected to meet domestic demand but also to grow its export potential in a globally competitive market.

Makreo research has published study on Flexible Packaging market titled, "India Flexible Packaging Market Analysis and Forecast (2018-2028)". The study evaluates flexible packaging market demand and production facts with detailed assessment of past and present market trends. This holistic approach enhances the overall analysis and makes the study a valuable resource for individuals or organizations interested in exploring the share of Flexible packaging, consumption statistics, demand of BOPP & BOPET, and polymer pricing in India. Market has witnessed many shifts in recent past that has impacted profit margins of the players but also accounted for rise in demand. The report contains a good balance of macroeconomic and microeconomic analysis, both qualitative and quantitative. The competition has also been carefully examined in terms of significant M&A transactions that have occurred in the market and recent financial infusions.

Period of Study
• 2018-2022 : Past and Present Scenario
• 2022: Base Year
• 2023-2028 : Future Outlook of the industry

Market Assessment:
The report examines the flexible packaging market in terms of market revenue and further breakdown into market segmentation:
• by Flexible & Rigid Packaging,
• by Company Size (Large Companies & MSME's),
• By Material Type (Plastic, Paper, Glass, Metal & Others
• by End User (Food, Non- Alcoholic Beverages, Cosmetic & Toiletries & Others)

Companies Mentioned:
• Cosmo Films
• Jindal Poly Films Limited
• Polyplex Corporation Ltd
• Ester Industries Limited
• EPL Ltd.
• Solos Polymer
• TCPL Packaging Ltd.
• Packone Solution LLP
• Uflex Ltd.
• Garware Hi-tech Films Limited

For more information, please visit
India Flexible Packaging Market Analysis and Forecast (2023-2028
https://www.makreo.com/report/india-flexible-packaging-market-analysis-and-forecast-2018-2028

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