India Flexible Packaging Market Analysis and Forecast (2018-2028) - Segmentation by Raw Material, Type of Films, End User and Organization Type

Report Code: MK20572 | Pages: 148
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Overview

India Flexible Packaging Market Size

The India Flexible Packaging Market is experiencing robust growth, propelled by urbanization, shifting consumer lifestyles, heightened awareness, and a rapidly expanding e-commerce sector. Recent insights into the flexible packaging market size in India reveal that a variety of materials such as plastic films, aluminum foils, and paper—are being utilized to create versatile flexible packaging solutions. Known for its convenience and cost-efficiency, flexible packaging has quickly become a favored option, driving significant adoption and steady expansion within the flexible packaging industry in India.

The broader packaging industry in India continues to grow swiftly, recording an annual growth rate of 22-25% as of 2021. As the fifth largest sector in India’s economy, packaging has shown strong development, particularly in exports. Within this context, flexible packaging has emerged as a major driver of growth.

The flexible packaging sector in India is achieving considerable advancements, increasingly impacting the country’s export market. Between 2018-2019 and 2021-2022, exports of Indian flexible packaging materials rose from USD 844 million to USD 1,119 million, highlighting a rising global footprint. The United States stands as the largest importer, followed by key markets like the UK, UAE, Netherlands, and Germany. This sustained demand in both domestic and international markets indicates a promising future for the flexible packaging sector in India.

The India Flexible Packaging Market is also seeing significant innovations in materials and technology. Key advancements in the flexible packaging industry in India include the development of barrier films, smart packaging, and anti-counterfeiting solutions. One of the emerging trends is active packaging, where edible and water-soluble films are gaining attention. Driven by the ongoing demand for environmentally friendly and reduced-material packaging, edible and soluble films are expected to see a rise in demand over the coming years.

The flexible packaging sector in India has also seen an influx of companies in the BOPP and BOPET markets. Over the past year, eight new BOPET production lines, with a combined capacity exceeding 300 KT annually, were launched by companies like Ester, Cosmo, U-flex, and Chiripal, among others. These investments, totaling over INR 3,000 crores, reflect the growth potential of the flexible packaging market in India. Both domestic and international companies are active players, with local firms often tailoring products for the Indian market, while global companies contribute advanced technology and quality standards.

Segmentation of the India Flexible Packaging Market

Packaging Type: The India Packaging Market can be broadly categorized into two main types: flexible packaging and rigid packaging, with all other packaging types falling under these categories. Although rigid packaging currently holds a larger market share, the flexible packaging market in India is expanding at a notable pace. This growth is largely due to consumers’ desire for packaging that is practical and user-friendly, as product packaging is often their first physical interaction with a product. Additionally, flexible packaging solutions in India are cost-effective, further boosting their popularity.

Company Size: In the flexible packaging sector in India, Micro, Small, and Medium Enterprises (MSMEs) hold a significant market share, while only a few large companies are present. There are reportedly over 200 flex-pack converters across the country, most of which are small businesses with processing capacities of less than 250 metric tons per month. These flexible packaging companies in India primarily produce items like overwraps, co-extrusion films, and polysacks.

Material Type: Within the flexible packaging industry in India, plastic packaging dominates, representing around 63% of the market’s value, followed by paper, glass, and metal. With advances in the barrier properties of plastic, especially clear plastic films, plastic and paper packaging are increasingly replacing glass and metal, particularly for retorted and hot-filled products.

End Users: The flexible packaging market in India serves several industries, including Food, Non-Alcoholic Beverages, Cosmetics & Toiletries, and others. The food segment is the largest, driven by the rapidly growing consumption of packaged food and beverages. Convenience and the rise of ready-to-eat options are key factors fueling the growth of the packaged food market in India.

Future Outlook of the India Flexible Packaging Market

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 Analysis and Forecast (2018-2028) ”. 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:

  • By Flexible 
  • Rigid Packaging
  • By Company Size
    • Large Companies
    • MSME’s
  • By Material Type
    • Plastic
    • Paper
    • Glass
    • Metal
    • Others
  • By End User
    • Food
    • Non-Alcoholic Beverages
    • Cosmetic
    • Toiletries
    • Others

Key Questions Answered

  1. How the Indian economy has performed in the past and what is the future expected growth outlook?
  2. At what rate has India's Flexible packaging market revenue grown in the past and what is the present state of the industry?
  3. What are the major driving factors that accounted for a push to the industry in the past?
  4. What is the expected future of the Indian Flexible packaging market?
  5. Who are the major players operating in the Flexible packaging market in India and how are these players are contributing to the industry?
  6. Which industry plays a dominant role in terms of generating maximum demand for Flexible packaging in India?
  7. What is the average cost of the plastic polymer in India and what price trend has been followed?
  8. What segment holds the major market share by film type?
  9. What is India's present demand for BOPP and BOPET, and how quickly will it increase in the near future?
  10. What are the strength, weakness, opportunities & threats in the flexible packaging market in India?
     

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Companies Covered

  • Cosmo Films (Cosmo First Limited)
  • Jindal Poly Films Limited
  • Polyplex Corporation Ltd
  • Ester Industries Limited
  • EPL Ltd.
  • Solos Polymer
  • TCPL Packaging Ltd.
  • Packone Solution LLP
  • Uflex Ltd.
  • Garware Hi-tech Films Limited. 

Table of Contents

  1. Report Synopsis
  2. Market Definitions
  3. 1.Research Methodology
    1. 1.1.Objective of the Study
    2. 1.2.Research Process
    3. 1.3.Data Collection Methods
    4. 1.4.Analytical Framework
  4. 2.India Flexible Packaging Market - EPTD Analysis
    1. 2.1.Country Overview – EPTD Analysis
    2. 2.2.EPTD Analysis – India Economic Overview
    3. 2.3.EPTD Analysis – India Political Overview
    4. 2.4.EPTD Analysis – Technological Overview
    5. 2.5.EPTD Analysis – India Demographic Overview
  5. 3.India Flexible Packaging Market - Trade Performance
    1. 3.1.Trade Performance: Plastic Export Statistics
      1. 3.1.1.Trade Performance: Top Plastic Items Exported
    2. 3.2.Import Statistics: LDPE & LLDPE
    3. 3.3.Import Statistics: PTA
  6. 4.India Flexible Packaging Market - Past & Present Performance
    1. 4.1.India Flexible Packaging Market – Segmentation Snapshot
    2. 4.2.India Packaging Market: An Overview
    3. 4.3.India Flexible Packaging Market: An Overview
      1. 4.3.1.India Flexible Packaging Market: Advantages of Flexible Packaging
      2. 4.3.2.India Flexible Packaging Market: Export Statistics
      3. 4.3.3.India Flexible Packaging Market: Consumption Statistics
      4. 4.3.4.India Flexible Packaging Market: Government Initiatives
    4. 4.4.India Flexible Packaging Market Revenue: Past & Present Performance
  7. 5.India Flexible Packaging Market – Market Segmentation
    1. 5.1.India Flexible Packaging Market: Share of Flexible Packaging
    2. 5.2.India Flexible Packaging Market: By Company Size
    3. 5.3.India Flexible Packaging Market: by Material Type
    4. 5.4.India Flexible Packaging Market: by End Users
  8. 6.India Flexible Packaging Market - By Material Type (Paper, Plastic, Metal, Glass)
    1. 6.1.Paper Packaging Market: An Overview
      1. 6.1.1.Demand of Paper Packaging in India
    2. 6.2.Plastic Packaging Market: An Overview
      1. 6.2.1.Plastic Packaging Consumption Statistics
      2. 6.2.2.Plastic Packaging Raw Material PVC Pricing
      3. 6.2.3.Demand of Polyolefin & Polyethylene
    3. 6.3.Glass Packaging Market: An Overview
      1. 6.3.1.Contribution of Beverages in India
    4. 6.4.Metal Packaging Market: An Overview
  9. 7.India Flexible Packaging Market - By Film Type (BOOP & BOPET)
    1. 7.1.BOOP & BOPET Film Market: An Overview
      1. 7.1.1.BOPP & BOPET Major Manufacturing Plant
      2. 7.1.2.BOOP & BOPET Film Demand in India
        1. 7.1.2.1.BOPP Film Capacity & Demand in India
        2. 7.1.2.2.Thin BOPET Film Capacity & Demand in India
        3. 7.1.2.3.Thick BOPET Film Capacity & Demand in India
  10. 8.India Flexible Packaging Market - Polymer Pricing
    1. 8.1.PTA+MEG Pricing Scenario
    2. 8.2.PET Pricing Index
    3. 8.3.LLDPE & LDPE Pricing Index
    4. 8.4.Polymer Pricing in Major Cities of India
  11. 9.India Flexible Packaging Market - by Type of Packaging
    1. 9.1.India Flexible Packaging Market: by Type of Packaging
    2. 9.2.India Flexible Packaging Trend
  12. 10.India Flexible Packaging Market - by End User (Food & Beverage, Pharmaceutical, E-commerce and Others)
    1. 10.1.Food & Beverages Market Performance
      1. 10.1.1.India Processed Food Market Performance
      2. 10.1.2.India Packed Food Market Performance
    2. 10.2.India Pharmaceuticals Market Performance
    3. 10.3.India E-Commerce Market Performance
    4. 10.4.India Retail Industry Performance
    5. 10.5.India Beauty & Personal Care Market Performance
    6. 10.6.India Consumer Electronics Market Performance
    7. 10.7.India Automobile Component Market Performance
  13. 11.India Flexible Packaging Market - Future Outlook
    1. 11.1.India Flexible Packaging Market: Future Outlook
    2. 11.2.Factors to Drive the Flexible Packaging Market in Future
  14. 12.India Flexible Packaging Market - SWOT Analysis
    1. 12.1.SWOT Analysis: Strength & Weakness
    2. 12.2.SWOT Analysis: Opportunities & Threats
  15. 13.India Flexible Packaging Market - Trends & Development
    1. 13.1.India Flexible Packaging Trends & Development
  16. 14.India Flexible Packaging Market - Competitive Landscape
    1. 14.1.India Flexible Packaging Competitive Landscape
  17. 15.India Flexible Packaging Market - Mergers/Acquisitions/Investments 2018-2023 & Funding Timeline
    1. 15.1.Market Mergers/Acquisitions/Investments 2018-2023
    2. 15.2.Funding Timeline
  18. 16.India Flexible Packaging Market - Company Profiles
    1. 16.1.Company Profile: Cosmo Films
    2. 16.2.Company Profile: Jindal Poly Films Limited
    3. 16.3.Company Profile: Polyplex Corporation Ltd.
    4. 16.4.Company Profile: Ester Industries Limited
    5. 16.5.Company Profile: EPL Ltd.
    6. 16.6.Company Profile: Solos Polymer
    7. 16.7.Company Profile: TCPL Packaging Ltd.
    8. 16.8.Company Profile: Packone Solution LLP
    9. 16.9.Company Profile: Uflex Ltd.
    10. 16.10.Company Profile: Garware Hi-tech Films Limited
  19. Analyst Recommendations
  20. Limitations of the Study
  21. List of Figures & Tables
  22. GDP Growth (Annual %) of India, 2015-2022
  23. India Consumer Inflation Rate, 2015-2021
  24. India Consumer Spending, Q1/2022-Q3/2023
  25. India FDI Investments by Countries (%), 2021-2022
  26. Top 5 States Attracting Highest FDI Equity Inflow in India (%), 2021-2022
  27. Political Framework Parameters of Top Asian Economies
  28. Total Population of India, 2016-2022
  29. Poverty Headcount (% of population), 2015-2019
  30. Category wise % growth in plastics export by India, 2023-2023
  31. India Packaging Material Export, 2018/19-2021/22
  32. Imports of Various Grade of Raw Material, 2017/18-2022/23
  33. India LDPE Balance Sheet, 2019/20-2022/23E
  34. India Polymer Import, 2022
  35. India Import of PTA from China
  36. India Packaging Market Revenue, 2019-2022
  37. Share of Flexible in Total Packaging by Volume
  38. India Packaging Material Export, 2018/19-2021/22
  39. Per capita Packaging Consumption
  40. India Flexible Packaging Market Revenue, 2018-2023E
  41. Share of Flexible and Rigid Packaging in Total Packaging, 2022
  42. Share of large companies and MSME’s in Packaging Market
  43. India Flexible Packaging Market by Material Type, 2022
  44. India Flexible Packaging Market by End Users, 2021
  45. Annual Paper Demand in million metric Tonnes, 2013- 2022
  46. Share of Plastic Packaging in Total Plastic, 2019
  47. Per Capita Polymer Consumption
  48. Polymer Consumption Share, 2021
  49. PVC Price Index, Jul/22- Jul/23
  50. Polyolefins Production Capacity in India by Type, 2022
  51. Polyethylene (PE) consumption in India in by sectors, (%), 2022
  52. Volume contribution of Beverage in India by Type, 2021
  53. Global BOPP Film Demand by Region, 2022
  54. Global BOPP Film Capacity by Region, 2022
  55. Global Thin PET Film Demand by Region, 2022
  56. Global Thin PET Film Capacity by Region, 2022
  57. Global Thick PET Film Demand by Region, 2022
  58. Global Thick PET Film Capacity by Region, 2022
  59. PET Price Index, Jul/22- Jul/23
  60. LLDPE Price Index, Jul/22- Jul/23
  61. LDPE Price Index, Jul/22- Jul/23
  62. India Processed Food Market, 2020-2023
  63. India Packed Food Market, 2015- 2022
  64. India Drug & Pharmaceutical Export, 2016/17-2022/23
  65. Number of online Shoppers in India, 2018-2022
  66. Online Retail Industry in India, 2016-2022
  67. Personal Care and Hygiene Market Size , 2022-2026
  68. Personal Care and Hygiene Trade, 2022
  69. India Electronic Production, 2017/18-2022/23
  70. India Electronic Export, 2018-2023
  71. Auto Component Industry Performance, 2018/19-H1/2023
  72. India Flexible Packaging Market Revenue, 2022-2028F
  73. India Packaged Food Market Value, 2020-2026F
  74. Impact of Top 10 Packaging Trend
  75. Market Capitalization of Flexible Packaging Company, 2023
  76. Market Share of Top 5 Companies in Flexible Packaging, 2023
  77. Cosmo First Net Sales, 2020-2023
  78. Cosmo First Export, 2022/23
  79. Cosmo First EBITDA, 2020-2023
  80. Jindal Poly Films Total Revenue, 2021/22-2022/23
  81. Jindal Poly Films Packaging Films Segment Revenue, 2021/22-2022/23
  82. Jindal Poly Films Revenue From Operation by Region, 2021/22-2022/23
  83. Polyplex Corporation Ltd. Total Revenue, 2021/22-2022/23
  84. Polyplex Corporation Ltd. Revenue by Segment, 2021/22-2022/23
  85. Ployplex Corporation Ltd. Company Wise Sales Breakup, 2022/23
  86. Ployplex Corporation Ltd. Region Wise Sales Breakup, 2022/23
  87. Ployplex Corporation Ltd. Product Breakdown, 2022/23
  88. Ployplex Corporation Ltd. Application Wise Sales Breakdown, 2022/23
  89. Ester Industries Limited Total Revenue, 2021/22-2022/23
  90. Ester Industries Limited Revenue by Segment, 2022/23
  91. Ester Industries Limited Revenue by Region, 2022/23
  92. EPL Limited Total Revenue, 2021/22-2022/23
  93. EPL Limited Revenue by Region, 2021/22-2022/23
  94. TCPL Packaging Limited Revenue by Segment, 2021/22-2022/23
  95. TCPL Packaging Limited Revenue by Segment, 2021/22-2022/23
  96. TCPL Revenue by business Segments, 2021 (%)
  97. Uflex Total Revenue, 2021/22-2022/23
  98. Uflex revenue by Segment, 2021/22-2022/23
  99. Garware Hi-tech Films Limited Revenue, 2021/22-2022/23
  100. Garware Hi-tech Films Limited Revenue by Region, 2021/22-2022/23

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