Packaging Market in India 2015-2019
Packaging is used to cover or wrap a product to preserve its quality and extend the shelf life of its contents by reducing the risk of contamination. Packaging plays a very significant role in transportation, warehousing, logistics, and sales of products. Apart from providing convenience to customers, packaging also plays a major role in attracting customers to purchase the product. It also controls the size and quantity of the content. The packaging materials used are available in two forms: rigid packaging material and flexible packaging material. Rigid packaging material comprises rigid plastics, glass bottles, containers, and metals. Flexible packaging materials include bags and pouches, squeezable bottles, stand-up pouches, CD cases, and materials used in foam packaging.
Technavio's analysts forecast the packaging market in India to grow at a CAGR of 15.44% over the period 2014-2019.
Covered in this report
The report covers the present scenario and the growth prospects of the packaging market in India for the period 2015-2019. The market is segmented based on the following criteria: types of packaging and types of materials.
Technavio's report, the Packaging Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Packaging Market in India 2015-2019
Technavio recognizes the following companies as the key players in the packaging market in India: Balmer Lawrie, Jindal Poly Films, MAX India and Uflex
Other Prominent Vendors in the market are: Bilcare, ESS DEE, Essel Propack, Flexituff, Garware Poly, Huhtamaki, Oricon Enterprises, Parekh Aluminex, Polyplex, Radha Madhav, Rollatainers and Time Technoplast
Commenting on the report, an analyst from Technavio’s team said: “Many packaging vendors are switching toward flexible packaging materials because of increased consumer demand for convenient packaging. Flexible packaging materials are lightweight and hence reduce transportation costs. They also occupy lesser space than rigid packaging materials. An increase in demand for small-size, less expensive, and easy to carry food and beverage products among rural and semi-urban consumers is expected to propel the growth of the market, as is the increase in demand for single-serve packaging products among customers in urban areas. In addition, flexible packaging materials are resealable, recyclable, and durable, which increases the demand for them among consumers.”
According to the report, increase in the number of Internet users, rise in the population of working women, and the growing number of supermarkets and department stores are leading to changes in the consumption patterns of consumers, providing impetus to growth in the sector. The food and grocery segment dominates the retail market in India. Retail stores use packaging materials to protect food and groceries, retain their nutritional value, and provide consumers with packaged products that are convenient are safe to consume. This, in turn, boosts the demand for packaging materials.
Further, the report states that the risk of packaged food contamination hinders market growth.
Balmer Lawrie, Jindal Poly Films, MAX India, Uflex, Bilcare, ESS DEE, Essel Propack, Flexituff, Garware Poly, Huhtamaki, Oricon Enterprises, Parekh Aluminex, Polyplex, Radha Madhav, Rollatainers, Time Technoplast