Flexible packaging refers to the packaging of products using non-rigid materials, which allow for more economical and customizable options. It is a progressive method in the packaging market with a better approach and has gained popularity due to its high efficiency and cost-effective nature. This method uses a variety of flexible materials, including foil, plastic, and paper, to create pouches, bags, and other pliable product containers.
In 2023, the Indian flexible packaging market was valued at INR 1.98 trillion and is expanding at a compound annual growth rate (CAGR) of ~12.11% during the 2024-2029 period. Factors such as population growth, rising incomes, changing lifestyles, and increased media penetration have contributed to the higher demand for packaging products.
As a result of evolving lifestyles, consumers have become increasingly eager to spend more on high-quality packaged products, including ready-to-eat food items, carbonated soft drinks, bottled water, fruit juices, and milk drinks.
In 2023, the Indian flexible packaging market was valued at INR 1.98 trillion and is expanding at a compound annual growth rate (CAGR) of ~12.11% during the 2024-2029 period. Factors such as population growth, rising incomes, changing lifestyles, and increased media penetration have contributed to the higher demand for packaging products.
Market drivers:
Consumers prefer healthier and eco-friendly packages without having to pay extra, which is pushing packaging companies to come up with economical packaging solutions. Rising household income, along with changing consumer behavior in the country, has allowed the widespread acceptance of modern retailing, thereby fueling the growth of the flexible packaging industry.As a result of evolving lifestyles, consumers have become increasingly eager to spend more on high-quality packaged products, including ready-to-eat food items, carbonated soft drinks, bottled water, fruit juices, and milk drinks.
Key deterrents to the growth of the market:
Paper, plastic, adhesives, and resins are among the key raw materials used in the production of flexible packaging. There is a huge gap between the production and consumption of raw materials for plastics in India. According to data from the commerce ministry, in 2022-23, India produced 14.31 million tons (MT) of plastic raw material, while consumption stood at 19.23 million MT, a deficit of 4.92 million MT.Market trends:
To reassure customers of the integrity of their purchases, brands continue to strive to meet high-quality standards and utilize tamper-evident packaging materials. Blister seal packs, pouches, seal bands, and lidding films are just a few of the elements that businesses use to help their clients determine whether their items are secure.Table of Contents
Chapter 1: Executive SummaryChapter 2: Socio-Economic Indicators
Chapter 3: Introduction
Chapter 4: Market Overview
Chapter 5: Market Influencers
Chapter 6: Market Trends
Chapter 7: Trade Analysis
Chapter 8: Competitive Landscape
Chapter 9: Recent Developments
Chapter 10: Appendix
Companies Mentioned
- Adani Power Limited
- ESC Limited
- Damodar Valley Corporation (DVC)
- NHPC Limited
- NTPC Limited
- SJVN Limited
- Suzlon Energy Limited
- The Tata Power Company Limited
- Websol Energy System Limited
- Nuclear Power Corporation of India Limited (NPCIL)
Methodology
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