The global packaging industry is developing and expanding day by day and Indian packaging industry is also growing at rapidly. This growth is primarily driven by factors like growing pharmaceutical, food processing, manufacturing industry, FMCG, healthcare sector and ancillary in the emerging economies like China, India, Brazil, Russia and few other East European countries
The Indian Packaging Industry constitutes about 4.8 % of the global packaging industry The per capita packaging consumption in India is quite low at 5.8 kgs , compared to countries like Germany and Taiwan where it is 46 kgs and 21 kgs respectively . However , organised retail and boom in e- commerce, which offer huge potential for future growth of retailing , is prompting a boost in packaing sector.
Indian Packaging Industry Market:
The Indian packaging industry itself is growing at 14-15% annually. This growth rate is expected to double in the next two years.
According to the Indian Packaging Institute, Indian Packaging industry is USD 14 billion and growing at more than 15% p.a. These figures indicate towards a change in the industrial and consumer set up.
The growth in the packaging industry in India is mainly driven by the food and the pharmaceutical packaging sectors. The large and growing Indian middle class, along with the growth in organized retailing in the country are fueling growth in the packaging industry. Another factor, which has provided substantial stimulus to the packaging machinery industry, is the rapid growth of exports, which requires superior packaging standards for the international market. With this the need for adopting better packaging methods, materials and machinery to ensure quality has become very important for Indian businesses.
Recently Japan’s paper and pulp giant Nippon Paper is all set to enter India by acquiring the country largest maker of paper beverage cups Plus Paper Foodpac, Plus Paper operates two manufacturing facilities in India Nippon Paper will use its manufacturing knowledge to pump factory productivity and quality
This will be part of Nippon Paper Group’s overseas expansion for Liquid packaging and paper containers business , to the recent opening of its plant In Vietnam.
Over all this will boost confident of Indian packaging board manufactures as well as the job seeker in the segment .