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HomeBusinessIndia Packaging Market expected to reach USD 204.81 billion by 2025

India Packaging Market expected to reach USD 204.81 billion by 2025

10 November 2020: A recent survey indicates that India Packaging Market, which was valued at USD 50.5 billion in 2019, is expected to reach USD 204.81 billion by 2025. This translates into a CAGR of 26.7% during the period of 2020-2025, according to report.

According to the survey, packaging is one of the strongest growing sectors in the country. According to Care Ratings, a prominent credit rating company in India, more than 49% of the paper produced in the country is used for packaging purposes. The rapid growth of the market is primarily driven by the pharmaceuticals and foods and beverages industries.

The Report, referring to data released by the Associated Chambers of Commerce and Industry of India, stated that the market size for organized packaged food is expected to reach INR 780 million, in 2020, from INR 530 million, in 2016.

According to the Indian Institute of Packaging (IIP), the packaging consumption in India has increased 200% in the past decade, rising from 4.3 kg per person per annum (pppa) to 8.6 kg pppa.

The Packaging Industry in India is fragmented in nature, owing to the several players competing to improve their market share. Major players include WestRock India Pvt. Ltd., OJI India Packaging Pvt. Ltd., Deccan Cans & Printers Pvt. Ltd., among others.

Parksons Packaging and HP India introduced a digital printing press for carton packaging. Parksons installed its first HP Indigo 30000 digital press which is also the first B2-format (20 x 30 inch) digital press in the Indian folding carton industry.

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