The packaging industry comprises businesses involved in the design, production, and distribution of packaging materials used to protect, store, and transport goods. This includes materials such as plastic, paper, cardboard, glass, and metal, which serve various sectors like food and beverage, pharmaceuticals, consumer goods, and e-commerce. Packaging plays a crucial role in product safety, branding, and customer experience.
Market size:
The Indian packaging market was valued at approximately INR 4.35 lakh crore (USD 52.83 billion) in 2023 and is expected to grow at a CAGR of 5-6% during 2023-2024. This growth is driven by demand across sectors like food, beverages, e-commerce, and personal care
Challenges:
⦿ Environmental Concerns
⦿ Raw Material Costs
⦿ Supply Chain Complexity
⦿ Waste Management and Recycling