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India Flexible Packaging Market Projected to Hit USD 36.29 Billion at a 5.30% CAGR by 2032 – Report by Market Research Future (MRFR)

Apr 16, 2024 4:00 PM ET

India Flexible Packaging Market Projected to Hit USD 36.29 Billion at a 5.30% CAGR by 2032 – Report by Market Research Future (MRFR)

Market Overview

Market Research Future (MRFR) report highlights India Flexible Packaging Market Information By Application, Distribution Channel And Region – Forecast till 2030″; the market will achieve USD 36.29 Billion in 2032 at a 5.30% CAGR.

The surging need for flexible packaging in the food and pharmaceutical industries has been driven by the significant and expanding middle-class population in India. The exponential expansion of exports necessitating high-quality packaging standards for the global market is driving market growth. The packaging sector in India currently holds a dominant position in the market for flexible plastic packaging. Suppliers are developing novel packaging methods to endure the intense competition in the market. Stand-up pouches, which have become increasingly popular, are a form of innovative packaging that is largely used in the food business.

A stand-up pouch is lighter in weight when compared to a glass bottle. The lightweight nature of stand-up pouches improves their portability. In addition, they are increasingly substituting cans for the purpose of storing manufactured food. The food industry is increasingly using flexible packaging due to its advantages in terms of convenience, hygiene, and sustainability. The product offers many attributes, such as durability and an increased shelf life, which are particularly advantageous for perishable food items. The burgeoning retail sector in India is significantly propelling market expansion.

India’s retail industry is experiencing rapid growth and is among the fastest-growing globally. The retail sector is expanding in tier-1 and tier-2 cities, as well as in large cities and metros across the country. The rise of the organized retail market in India is being driven by factors such as changing demographic profiles, increasing disposable incomes, growing urbanization, and evolving customer tastes and preferences. The main catalyst driving market expansion is the transition of customers, particularly millennials, from conventional retail to digital platforms. The increasing urbanization and hectic lifestyles have resulted in a growing inclination towards ready-to-eat meals, beverages, and snacks. Consequently, there is a growing demand for efficient packaging solutions.

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Market Competitive Landscape:

  • Berry Global Inc.
  • Bilcare Ltd.
  • Constantia Flexibles Group GmbH
  • Cosmo Films Ltd.
  • Huhtamaki Oyj
  • Jindal Poly Films Ltd.
  • Multiflex Packaging India
  • Nichrome Packaging Solutions
  • Packone Solutions LLP

Market Segmentation

By material type, the market includes plastic, paper, containers, glass metal cans, and containers. By End User, the market includes Food & Beverage, Retail & E-Commerce, Paints & Commercial, Industrial, and Personal Care & Cosmetics.

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Regional Insights

India’s rapid economic growth has led to an increase in demand for packaged goods in industries such as food and beverage, pharmaceuticals, and personal care. The expanding middle class and urbanization mostly drive this. Flexible packaging provides benefits such as convenience, cost-efficiency, and sustainability, which are in line with consumer preferences and industrial requirements. Furthermore, the progress in printing, laminating, and barrier materials has improved the excellence and adaptability of flexible packaging solutions, meeting various product demands. Moreover, the growing consciousness of environmental sustainability is propelling the acceptance of eco-friendly packaging materials and methods.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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