The flexible packaging market in India is witnessing rapid growth, driven by factors like urbanization, evolving lifestyles, increased consumer awareness, and the thriving e-commerce sector. According to recent reports on the flexible packaging market size in India, this industry is marked by the use of diverse materials such as plastic films, aluminum foils, and paper to create various packaging solutions. The convenience and cost-effectiveness of flexible packaging make it a standout choice, contributing substantially to its widespread adoption and continuous expansion within the flexible packaging market in India.
The packaging industry in India is experiencing rapid growth, with a projected annual development rate of 22-25% in 2021. As the 5th largest sector in India's economy, it has consistently shown promising expansion over recent years, particularly in the export market. Notably, flexible packaging has emerged as a significant player in this growth trajectory.
India's flexible packaging sector has been witnessing notable advancements, contributing significantly to the country's export market. Flexible packaging materials are increasingly being exported from India to various countries around the globe. From 2018–2019 to 2021–2022, India's exports of packaging materials surged from USD 844 million to USD 1,119 million, underscoring its escalating presence in the international market.
The United States remains the top destination for India's flexible packaging exports, closely followed by the UK, the UAE, the Netherlands, and Germany. These countries represent major markets where Indian flexible packaging materials are gaining prominence. Moreover, India's flexible packaging industry is poised for further growth, with ongoing trends indicating sustained momentum in both domestic consumption and international trade.
The industry is also witnessing innovations in flexible packaging materials. Barrier films, smart packaging, and anti-counterfeiting features were some of the areas of innovation. One of the more “trendy” advancements to fall under the active packaging category involves edible and soluble films. Combined with the continual demand for environmentally friendly materials and the ongoing trend of minimizing packaging materials, it is predicted that the demand for edible and water-soluble films could increase over the next few years.
Many new companies have entered the BOPP & BOPET markets since last year. Eight new BOPET lines with a capacity of over 300KT annually and investments totaling more than INR 3,000 crores were put into service in the nation during the course of the previous 12 months of 2022 by businesses including Ester, Cosmo, U-flex, Chiripal, and others. Both local and international companies are active in India's flexible packaging market. Local companies often customize their offerings to meet the specific needs of the Indian market, while international players bring advanced technology and quality standards.
Segmentation of the Indian Flexible Packaging Market
Packaging: The product packaging has two major categories flexible packaging and rigid packaging. And all packaging types fall under these broader categories. Notably, the market share of rigid packaging is higher than that of flexible packaging. The flexible packaging market in India is lately growing at a good rate. The main reason behind this is that product packaging is their first physical interaction with the product. And when consumers interact with the product through the packaging, they want it to be handy. Besides, flexible packaging in India is cost-efficient as well.
Company Size: In India, MSME’s hold the major market share in the flexible packaging market, while there are only a few large companies. In India, there are reportedly more than 200 flex-pack (flexible packaging) converters. Most small businesses that manufacture overwraps, co-extrusion films, and polysacks have a processing capacity of less than 250 metric tons per month.
Material Type: Plastic packaging has the largest share out of all the materials, constituting 63% of the market's value, followed by paper, glass, metal and others. Plastic and paper packaging is replacing glass and metal, particularly retorted and hot-filled products, as substantial improvements are made to the barrier properties of plastic films, particularly clear plastic films.
End Users: India Flexible Packaging Market by Industries is dived into Food, Non-Alcoholic Beverages, Cosmetics & Toiletries, and Other. The largest segment is the food segment. The consumption of packaged food and beverages in India is growing at an exponential rate. Factors such as the convenience of the available ready-to-eat food are driving the growth of the packaged food market in India.
Future Outlook
The Indian flexible packaging industry is dynamic and continues to evolve to meet the changing needs and preferences of consumers and businesses. The India Flexible Packaging Market is anticipated to increase at a CAGR of 13.9% from 2023 to 2028.
Sustainability has become a prominent theme in the industry, leading to the exploration and adoption of eco-friendly and sustainable packaging materials. Innovation in barrier films, smart packaging, and anti-counterfeiting features has also been a focus.
In addition, the fast-moving consumer goods (FMCG) market in India is estimated to grow at a CAGR of more than 18% during the forecast period. Therefore, the growing retail sector in India will increase the demand for flexible packaging, thereby driving the growth of the India flexible packaging market during the forecast period.
Scope of the Study
Makreo Research has published a study on the packaging industry titled, “India Flexible Packaging Market Future Outlook to 2028”. The study evaluates flexible packaging market demand and production facts with a detailed assessment of past and present market trends. This holistic approach enhances the overall analysis and makes the study a valuable resource for individuals or organizations interested in exploring the share of Flexible packaging, consumption statistics, demand of BOPP & BOPET, and polymer pricing in India. The market has witnessed many shifts in the recent past that have impacted profit margins of the players but also accounted for the rise in demand. The report contains a good balance of macroeconomic and microeconomic analysis, both qualitative and quantitative. The competition has also been carefully examined in terms of significant M&A transactions that have occurred in the market and recent financial infusions.
The report examines the corrugated packaging market in terms of market revenue and further breakdown into market segmentation:
Companies Covered:
Key Questions Answered
Table of Content
Report Synopsis
Market Definitions
1. Research Methodology
1.1. Objective of the Study
1.2. Research Process
1.3. Data Collection Methods
1.4. Analytical Framework
2. India Flexible Packaging Market - EPTD Analysis
2.1. Country Overview – EPTD Analysis
2.2. EPTD Analysis – India Economic Overview
2.3. EPTD Analysis – India Political Overview
2.4. EPTD Analysis – Technological Overview
2.5. EPTD Analysis – India Demographic Overview
3. India Flexible Packaging Market - Trade Performance
3.1. Trade Performance: Plastic Export Statistics
3.1.1. Trade Performance: Top Plastic Items Exported
3.2. Import Statistics: LDPE & LLDPE
3.3. Import Statistics: PTA
4. India Flexible Packaging Market - Past & Present Performance
4.1. India Flexible Packaging Market – Segmentation Snapshot
4.2. India Packaging Market: An Overview
4.3. India Flexible Packaging Market: An Overview
4.3.1. India Flexible Packaging Market: Advantages of Flexible Packaging
4.3.2. India Flexible Packaging Market: Export Statistics
4.3.3. India Flexible Packaging Market: Consumption Statistics
4.3.4. India Flexible Packaging Market: Government Initiatives
4.4. India Flexible Packaging Market Revenue: Past & Present Performance
5. India Flexible Packaging Market – Market Segmentation
5.1. India Flexible Packaging Market: Share of Flexible Packaging
5.2. India Flexible Packaging Market: By Company Size
5.3. India Flexible Packaging Market: by Material Type
5.4. India Flexible Packaging Market: by End Users
6. India Flexible Packaging Market - By Material Type (Paper, Plastic, Metal, Glass)
6.1. Paper Packaging Market: An Overview
6.1.1. Demand of Paper Packaging in India
6.2. Plastic Packaging Market: An Overview
6.2.1. Plastic Packaging Consumption Statistics
6.2.2. Plastic Packaging Raw Material PVC Pricing
6.2.3. Demand of Polyolefin & Polyethylene
6.3. Glass Packaging Market: An Overview
6.3.1. Contribution of Beverages in India
6.4. Metal Packaging Market: An Overview
7. India Flexible Packaging Market - By Film Type (BOOP & BOPET)
7.1. BOOP & BOPET Film Market: An Overview
7.1.1. BOPP & BOPET Major Manufacturing Plant
7.1.2. BOOP & BOPET Film Demand in India
7.1.2.1. BOPP Film Capacity & Demand in India
7.1.2.2. Thin BOPET Film Capacity & Demand in India
7.1.2.3. Thick BOPET Film Capacity & Demand in India
8. India Flexible Packaging Market - Polymer Pricing
8.1. PTA+MEG Pricing Scenario
8.2. PET Pricing Index
8.3. LLDPE & LDPE Pricing Index
8.4. Polymer Pricing in Major Cities of India
9. India Flexible Packaging Market - by Type of Packaging
9.1. India Flexible Packaging Market: by Type of Packaging
9.2. India Flexible Packaging Trend
10. India Flexible Packaging Market - by End User (Food & Beverage, Pharmaceutical, E-commerce and Others)
10.1. Food & Beverages Market Performance
10.1.1. India Processed Food Market Performance
10.1.2. India Packed Food Market Performance
10.2. India Pharmaceuticals Market Performance
10.3. India E-Commerce Market Performance
10.4. India Retail Industry Performance
10.5. India Beauty & Personal Care Market Performance
10.6. India Consumer Electronics Market Performance
10.7. India Automobile Component Market Performance
11. India Flexible Packaging Market - Future Outlook
11.1. India Flexible Packaging Market: Future Outlook
11.2. Factors to Drive the Flexible Packaging Market in Future
12. India Flexible Packaging Market - SWOT Analysis
12.1. SWOT Analysis: Strength & Weakness
12.2. SWOT Analysis: Opportunities & Threats
13. India Flexible Packaging Market - Trends & Development
13.1. India Flexible Packaging Trends & Development
14. India Flexible Packaging Market - Competitive Landscape
14.1. India Flexible Packaging Competitive Landscape
15. India Flexible Packaging Market - Mergers/Acquisitions/Investments 2018-2023 & Funding Timeline
15.1. Market Mergers/Acquisitions/Investments 2018-2023
15.2. Funding Timeline
16. India Flexible Packaging Market - Company Profiles
16.1. Company Profile: Cosmo Films
16.2. Company Profile: Jindal Poly Films Limited
16.3. Company Profile: Polyplex Corporation Ltd.
16.4. Company Profile: Ester Industries Limited
16.5. Company Profile: EPL Ltd.
16.6. Company Profile: Solos Polymer
16.7. Company Profile: TCPL Packaging Ltd.
16.8. Company Profile: Packone Solution LLP
16.9. Company Profile: Uflex Ltd.
16.10. Company Profile: Garware Hi-tech Films Limited
Analyst Recommendations
Limitations of the Study
List of Figures & Tables
GDP Growth (Annual %) of India, 2015-2022
India Consumer Inflation Rate, 2015-2021
India Consumer Spending, Q1/2022-Q3/2023
India FDI Investments by Countries (%), 2021-2022
Top 5 States Attracting Highest FDI Equity Inflow in India (%), 2021-2022
Political Framework Parameters of Top Asian Economies
Total Population of India, 2016-2022
Poverty Headcount (% of population), 2015-2019
Category wise % growth in plastics export by India, 2023-2023
India Packaging Material Export, 2018/19-2021/22
Imports of Various Grade of Raw Material, 2017/18-2022/23
India LDPE Balance Sheet, 2019/20-2022/23E
India Polymer Import, 2022
India Import of PTA from China
India Packaging Market Revenue, 2019-2022
Share of Flexible in Total Packaging by Volume
India Packaging Material Export, 2018/19-2021/22
Per capita Packaging Consumption
India Flexible Packaging Market Revenue, 2018-2023E
Share of Flexible and Rigid Packaging in Total Packaging, 2022
Share of large companies and MSME’s in Packaging Market
India Flexible Packaging Market by Material Type, 2022
India Flexible Packaging Market by End Users, 2021
Annual Paper Demand in million metric Tonnes, 2013- 2022
Share of Plastic Packaging in Total Plastic, 2019
Per Capita Polymer Consumption
Polymer Consumption Share, 2021
PVC Price Index, Jul/22- Jul/23
Polyolefins Production Capacity in India by Type, 2022
Polyethylene (PE) consumption in India in by sectors, (%), 2022
Volume contribution of Beverage in India by Type, 2021
Global BOPP Film Demand by Region, 2022
Global BOPP Film Capacity by Region, 2022
Global Thin PET Film Demand by Region, 2022
Global Thin PET Film Capacity by Region, 2022
Global Thick PET Film Demand by Region, 2022
Global Thick PET Film Capacity by Region, 2022
PET Price Index, Jul/22- Jul/23
LLDPE Price Index, Jul/22- Jul/23
LDPE Price Index, Jul/22- Jul/23
India Processed Food Market, 2020-2023
India Packed Food Market, 2015- 2022
India Drug & Pharmaceutical Export, 2016/17-2022/23
Number of online Shoppers in India, 2018-2022
Online Retail Industry in India, 2016-2022
Personal Care and Hygiene Market Size , 2022-2026
Personal Care and Hygiene Trade, 2022
India Electronic Production, 2017/18-2022/23
India Electronic Export, 2018-2023
Auto Component Industry Performance, 2018/19-H1/2023
India Flexible Packaging Market Revenue, 2022-2028F
India Packaged Food Market Value, 2020-2026F
Impact of Top 10 Packaging Trend
Market Capitalization of Flexible Packaging Company, 2023
Market Share of Top 5 Companies in Flexible Packaging, 2023
Cosmo First Net Sales, 2020-2023
Cosmo First Export, 2022/23
Cosmo First EBITDA, 2020-2023
Jindal Poly Films Total Revenue, 2021/22-2022/23
Jindal Poly Films Packaging Films Segment Revenue, 2021/22-2022/23
Jindal Poly Films Revenue From Operation by Region, 2021/22-2022/23
Polyplex Corporation Ltd. Total Revenue, 2021/22-2022/23
Polyplex Corporation Ltd. Revenue by Segment, 2021/22-2022/23
Ployplex Corporation Ltd. Company Wise Sales Breakup, 2022/23
Ployplex Corporation Ltd. Region Wise Sales Breakup, 2022/23
Ployplex Corporation Ltd. Product Breakdown, 2022/23
Ployplex Corporation Ltd. Application Wise Sales Breakdown, 2022/23
Ester Industries Limited Total Revenue, 2021/22-2022/23
Ester Industries Limited Revenue by Segment, 2022/23
Ester Industries Limited Revenue by Region, 2022/23
EPL Limited Total Revenue, 2021/22-2022/23
EPL Limited Revenue by Region, 2021/22-2022/23
TCPL Packaging Limited Revenue by Segment, 2021/22-2022/23
TCPL Packaging Limited Revenue by Segment, 2021/22-2022/23
TCPL Revenue by business Segments, 2021 (%)
Uflex Total Revenue, 2021/22-2022/23
Uflex revenue by Segment, 2021/22-2022/23
Garware Hi-tech Films Limited Revenue, 2021/22-2022/23
Garware Hi-tech Films Limited Revenue by Region, 2021/22-2022/23