The Packaging Industry in India has seen tremendous growth in recent years. An increasing number of manufacturing units, eco-friendly materials, and increased focus on research & development has resulted in world-class products being manufactured locally at low cost. Government initiatives such as ‘Make In India’ are expected to speed this process further.
The packaging industry in india is an important sector, which has seen increased investor interest over the past few years. The sector can attract long-term capital because of its growing demand in India. The industry offers immense scope for investment as it provides employment opportunities and attracts foreign direct investments.
Initially, multinational companies dominated the market, but now, several domestic companies have managed to gain a strong foothold in the sector.
The growth of the packaging industry in india has been rather phenomenal, with a significant part being contributed by small and medium scale enterprises, which account for about 81% of the total domestic production. The high growth is attributed to increasing population, rise in literacy rate, improving economy, technological advancements, and innovation in product design. The lagging factor in the industry is an inconsistent power supply that negatively impacts production.
To maintain a competitive edge in the market with international players, there is a need for specialized packaging machinery in India to make them more productive and efficient. Due to its growing packaging industry, there is substantial latent demand for superior packaging machinery in the Indian market.
However, excessive government taxes have resulted in higher production costs for local manufacturers than their international counterparts enjoying lower operating costs.
The leading players in this sector are organized mainly under two categories-
1) Those who manufacture packaging machines and allied equipment for the packaging industry
2) Those who manufacture packaging materials such as glass, paperboard, plastics, and metal.
The packaging industry in India has grown at 10-11% from the past several years, which is expected to continue shortly. India’s adoption of technology has made a significant impact on its growth. The Indian packaging industry is expected to grow at an annualized rate of 10.1% in 2024.
ASSOCHAM, along with Deloitte India, released a report on the Indian Packaging Industry to be $59 billion by 2017-18″ in April 2012. It says the industry’s total turnover was estimated at Rs.1,46,300 crore ($23 billion) in 2010. According to a study by Frost & Sullivan, the packaging industry in India is also expected to grow at a CAGR of 11 percent from 2013-2018. In 2010, it was estimated that the sector employed more than 1 million people and had an export turnover of Rs.1,000 crore ($160 million).
In short, The packaging industry in India has been growing at a rate of 10-11% from Manju Industries, a packaging machine maker is one of the leading players in this segment. The company offers machines such as a two-side automatic folding bag wrapping machine and a double stand type corrugated flexo printing machine. It also manufactures several other products such as seaming machines, corrugated board-making machines, and laminating machines.The company clocked a turnover of over Rs 8.14.
Pune-based AANDEEP PETS & PACKAGING LTD (APPL) is another leading player in the packaging industry and manufactures and supplies all types of single-use pet food pouches and pet food bags. The company has already opened its branch in Bangalore and plans to open another one.
The growth of the Indian Packaging Industry is expected to increase due to factors such as increasing population, rise in literacy rate, improving economy, technological advancements, innovation in product design, etc.
Association of packaging manufacturers Association (Associação de Fabricantes de Embalagens – APEMIP/IAPORTE) is a private association of manufacturing companies in Brazil whose main objective is to represent the industry stimulate growth and technological advances.
Industry Overview. The packaging industry in india refers to an extensive range of products used for various packaging. India is one of the fastest-growing markets in Asia, attracting several manufacturers to enter this industry.
The Indian Packaging Industry is still in its nascent stages and seems to be flourishing with each passing day. The most beneficial factor for the growth of the Indian packaging industry would most likely be the surge in demand for consumer goods, especially from the rural and urban masses of tier II.
India is one of the fastest-growing markets in Asia, which has attracted several manufacturers to enter this industry. According to another survey by ASSOCHAM and Deloitte India, the Indian packaging industry registered a CAGR of 11 percent in 2015-16 and reached $72 billion by 2020.India is one of the fastest-growing markets in Asia. Rapid expansion.
The value chain for the global packaging market includes manufacturers/importers, food manufacturers, wholesalers/distributors, retailers, and service providers. Some of the leading players in the Indian packaging industry are Manju Industries Ltd., AMANDEEP PETS & PACKAGING LTD (APPL), Hindustan Latex Limited (HLL), and National Flexi Packaging Pvt Ltd, which is based out of Gurgaon.
The growth of the Indian Packaging Industry is expected to increase due to the increasing population, rise in literacy rate, improving economy, technological advancements and innovation in product design, etc.
The Association of packaging manufacturers (APEMIP/IAPORTE) is the private Association of manufacturing companies in Brazil whose main objective is to represent the industry, stimulate growth and technological advances.
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