Flexible Packaging Market in India 2022-2027
Bharat Book Bureau Provides the Trending Market Research Report on “Flexible
Packaging Market in India 2022-2027” under Heavy Industry Market Research
Report Category. The report offers a collection of superior Market research, Market
analysis, competitive intelligence and Market reports.
India Flexible Packaging Market, Forecast 2022-2027
Market insights:
The food and beverages industry is shifting preferences in favor of using flexible
pouches for products, such as soups and juices, which have high liquid content.
Flexible packaging is also used for products, such as snacks, frozen foods,
ready-to-eat, and ready-to-cook food items. These are the major factors for the
growth of the Indian flexible packaging market. Moreover, due to an increase in per
capita income, India is witnessing a rise in the consumption of packaged foods,
which, as a result, is expected to fuel the demand for flexible packaging in the
upcoming years. The flexible packaging market in India was valued at INR 615.27 Bn
in FY 2021 and is expected to reach INR 1491.56 Bn by FY 2027, expanding at a
compound annual growth rate (CAGR) of ~13.12% during the FY 2022- FY 2027
period
Segment insights:
Based on the raw materials used, the flexible packaging market can be segmented
into flexible plastic, paper, and foil packaging. The flexible plastic packaging segment
accounts for the largest share. Plastic can be modified by co-polymerization and uses
additives to match the exact commodity requirement, thereby making it the most
suitable raw material. The most used raw materials for plastic packaging are
polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), and
polyvinyl chloride (PVC). PE finds application in diverse industries and accounts for
the largest share of the flexible plastic packaging segment.
COVID-19 Impact Analysis:
The lockdown had a mixed impact on flexible packaging players, depending on the
portfolios of different end-user industries. The industry segments catering to
essential services, such as fresh and processed food, hygiene and home care
products, healthcare consumables, and e-commerce, witnessed a spike in demand
for flexible packaging services, whereas the non-essential segments experienced a
short-term contraction in demand.
However, there were many consequences the industry had to face, such as:
•Raw material price fluctuation: As polyethylene and polypropylene (the most
significantly used raw material for the flexible packaging industry) are produced
domestically and not imported; therefore, there is limited scope for raw material
price fluctuation
•Halt in production: Due to the lockdown, demand for food and pharmaceuticals,
two important downstream businesses, unexpectedly increased. This had a ripple
effect on the demand for flexible packaging
•Disruption in the supply chain: Restrictions on road movement across state borders
had impacted the domestic supply chain in the short term. Also, with the closing
down of major ports in China, global disruption in the supply chain has affected the
Indian flexible packaging industry
Competitive insights:
The FMCG industry involves production and sales of products including food and
beverage, personal care, tobacco, and household care, which offer the biggest
opportunity for the flexible packaging industry. Apart from traditional demands,
India’s leading flexible packaging companies like Cosmo Films Limited, Essel Propack
Limited, Jindal Poly Films Limited, and TCPL Packaging Limited, among others are
serving the growing demands from e-commerce shipments.
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https://www.bharatbook.com/report/1385820/flexible-packaging-market-in-india
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