India Flexible Packaging Industry Outlook –Growth in end-user segments such as FMCG, Pharmaceutical driving growth of the market

Netscribes,Inc.launchesa report on Flexible Packaging Industryin India 2017covering a market with strong growth potential. It is a part of Netscribes’ Food & Beverage Industry Series.

Mumbai, India – September 05, 2017–Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Flexible Packaging Market in India 2017’ (https://www.researchonindia.com/flexible-packaging-market-in-india-2017-13626.html). Increasing usage of packaging materials in various food service outlets along with increasing demand for packaged beverages is expected to drive the growth of the domestic flexible packaging market.

Netscribes’ latest market research report titled Flexible Packaging Market in India 2017 highlights the overall growth potential of the domestic flexible packaging market. Consumer packaging mainly consists of rigid packaging (~72%) and flexible packaging (28%). The Indian packaging industry is witnessing a gradual shift from rigid to flexible packaging as flexible packages are visually more appealing, cheaper and durable compared to rigid packages. Plastic is the most common form of packaging being used in recent times. It has a dominant share in the Indian packaging market. Currently, the plastics and polymer consumption in India is growing at an average annual rate of ~10%. The benefits of flexible packaging which includes aroma retention, convenient transportation and usage, light weight, strength and barriers against moisture, among others, has led to its greater applications in packing products like tea leaves, snacks, ready to eat and ready to cook foods, cosmetic products and food products. Changing lifestyle pattern of Indian people is influencing their consumption pattern, which in turn is expected to drive the demand of the domestic flexible packaging market. Some of the notable players in the Indian flexible packaging market include Cosmo Films Ltd., Essel Propack Ltd., and Garware Polyester Ltd., among others.

Ban on plastic packaging due to environmental concern, lack of packaging machinery and domestic technology is acting as a major growth deterrent of the domestic flexible packaging industry. However, India has witnessed a considerable rise in export of flexible packaging products during FY 2013 to FY 2017. Although the industry comprises both rigid as well as flexible packaging materials, the preference for flexible packaging over its rigid counterpart has been evident with the passage of time. The in-mold label is also gaining popularity within the plastic packaging sector. Indian flexible packaging industry is poised to grow at a CAGR of ~24.3% over the next five years, along with the steady economic growth of the country.

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