India Flexible Plastic Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 4.96 Million tonnes |
| Market Volume (2029) | 6.11 Million tonnes |
| CAGR (2024 - 2029) | 4.26 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Flexible Plastic Packaging Market Analysis
The India Flexible Plastic Packaging Market size in terms of shipment volume is expected to grow from 4.96 Million tonnes in 2024 to 6.11 Million tonnes by 2029, at a CAGR of 4.26% during the forecast period (2024-2029).
India's market growth hinges on factors such as a pivot toward flexible packaging to combat steep logistics costs, a burgeoning retail landscape, and a rising need for digitally printed packaging.
India's retail sector, among the world's swiftest, spearheads this surge. It is fueled by shifting demographics, surging incomes, urbanization, and evolving consumer preferences. The market's upswing is driven by a noticeable shift, particularly among millennials, from stores to online platforms.
Flexible packaging has become India's packaging industry, reshaping how products are packaged, stored, and shipped. Its adaptability, cost-efficiency, and eco-friendliness have made it a standout choice across sectors, notably in food and beverages, healthcare, and personal care.
India's flexible plastic packaging market thrives, propelled by several key factors. Firstly, evolving consumer preferences and lifestyles drive the demand for lightweight, convenient packaging. Flexible packaging, with features like resealability and easy opening, perfectly aligns with these modern needs. Moreover, the booming e-commerce landscape is fueling the demand for flexible packaging. As online shopping gains popularity, there is a heightened emphasis on packaging that ensures product safety during transit, stands out visually, and provides essential information.
Further, the sustainability narrative pushes manufacturers and consumers toward eco-conscious choices. Materials like recyclable plastics, bio-based films, and compostable options, prevalent in flexible packaging, are gaining favor for their lower carbon footprint and reduced waste compared to traditional formats.
Flexible packaging emerged as a lifeline for India's e-commerce sector. In the aftermath, the demand for flexible packaging has soared, opening up significant business opportunities and driving growth in the printing and packaging industry. With e-commerce poised for continued growth, projections from the India Brand Equity Foundation (IBEF), a body under the Ministry of Commerce, suggest that India's e-commerce revenues will hit USD 200 billion by 2026, propelled by the expanding reach of internet services and smartphones.
India Flexible Plastic Packaging Market Trends
Rise in Lightweight and On The Go Consumption
- The Indian flexible plastic packaging industry is undergoing significant changes, with a clear emphasis on enhancing brand experiences. Convenience stands out as a primary catalyst for these transformations. Notably, there is a pronounced shift toward flexible packaging, particularly pouches. This surge is attributed to the convenience offered by both customers and manufacturers.
- The growing rate of urbanization across the country has strengthened the focus on convenient and sustainable packaging. With end users like fresh food, ready-to-eat, and coffee showing robust growth, the demand for pouch packaging is set to surge. According to a report by BDO India, a prominent management consulting firm, India's ready-to-cook food market is projected to reach INR 64 billion (approximately USD 0.76 billion) by 2025, marking a significant increase from its 2020 valuation of INR 30 billion (about USD 0.35 billion). This growth in ready-to-eat meal packages is anticipated to surge the demand for flexible plastic packaging during the forecast period.
- At present, sustainability is driving the growth of the county's flexible packaging market. Its benefits, including reduced raw material consumption, minimized use of natural resources during production, and lower waste generation compared to traditional formats, have positioned flexible packaging as the preferred choice for end consumers and manufacturers.
- Owing to the rising demand for eco-friendly packaging, several brands are launching innovative products across the market. For instance, in October 2023, Pakka Limited, an essential food packaging firm, introduced India's first compostable flexible packaging. Pakka's groundbreaking compostable flexible packaging showcases many features that highlight its commitment to environmental sustainability.
- Western culture's influence has brought a variety of snack foods to the Indian market but also cultivated a taste for diverse and innovative products. This trend is further bolstered by the expanding retail infrastructure and the rise of e-commerce, which make snack foods more accessible and fuel the growth of the snacks market. According to Bikaji Foods International Ltd, the savory snacks market in India in 2022 was INR 751 billion (USD 8.99 billion) and is expected to reach INR 1,227 billion (USD 14.69 billion) by 2026. This growth would push the demand for flexible plastic packaging in the country.
Increased Focus on Food Packaging and Rise in Super and Hyper Markets in the Country
- India's food industry is rapidly expanding, propelled by the nation's robust appetite. The Food Safety and Standards Authority of India (FSSAI) has mandated new packaging guidelines for the sector. Over the past years, India has experienced a surge in sustainable packaging, fueled by heightened consumption and awareness of packaged foods. Anticipated market growth is further bolstered by a rising consumer consciousness, particularly in packaged food deliveries.
- According to the India Brand Equity Foundation (IBEF), the Indian e-commerce industry, projected to hit USD 350 billion by 2030, is propelling the growth of the country's food packaging sector. This surge has enticed prominent entities like Amazon and Flipkart to venture into food e-commerce. Amazon, for instance, has committed a substantial USD 35 million to mark its foray. Meanwhile, Flipkart is gearing up with a hefty USD 258 million investment earmarked for its retail food segment.
- Hypermarkets and supermarkets are becoming increasingly prevalent in India, boosting sales of flexible plastic packaging. Retail outlets rely on these materials to protect and maintain the nutritional integrity of their food offerings. Moreover, consumers in Tier II and III cities, like Vadodara and Kanpur, are increasingly favoring supermarkets and hypermarkets over traditional neighborhood convenience stores, drawn by their competitive pricing.
- According to 7Heven Retail, supermarket chains have emerged as a swiftly ascending retail market segment. India's retail sector stands out globally, showcasing one of the fastest growth rates. India ranks as the world's fifth-largest retail market, attracting substantial foreign direct investments, a trend poised to escalate given the surging consumer demand. Amid this, supermarkets have emerged as the favored retail format.
- According to the Organization for Economic Co-operation and Development (OECD), the consumption volume of poultry meat in India was 3,955.7 thousand metric tons in 2020, reaching 4,407.24 thousand metric tons. The rise in average income and urbanization has significantly boosted the demand for poultry, resulting in a consistent uptrend in consumption.
India Flexible Plastic Packaging Industry Overview
The Indian flexible plastic packaging market is fragmented with domestic and global players such as Uflex Limited, Sealed Air Corporation, Berry Global Inc., Constantia Flexibles GmbH, Amcor PLC, Mondi PLC, and Sonoco Products Company. Players operating in the region are focused on expanding their business through mergers, collaborations, acquisitions, and product innovations.
April 2024 - UFlex Limited entered a long-term Power Purchase Agreement (PPA) with Amplus Phoenix Private Limited to source renewable power under a group captive power policy. The plant will provide solar energy to UFlex's Packaging Films manufacturing plant in Dharwad, Karnataka. In line with UFlex's goal of being net zero by 2035 or earlier, this contract will strategically lower UFlex's carbon emissions by the app.
August 2023 - Amcor, a prominent global player in responsible packaging solutions, announced its acquisition of Phoenix Flexibles. This strategic move is set to bolster Amcor's presence in the rapidly expanding Indian market. Phoenix Flexibles specializes in flexible packaging and has its sole manufacturing facility in Gujarat, India. The company boasts around USD 20 million in annual revenue, primarily from food, home care, and personal care sales.
India Flexible Plastic Packaging Market Leaders
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Amcor Plc
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Uflex Limited
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Berry Global, Inc.
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Mondi Plc
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Sonoco Products Company
*Disclaimer: Major Players sorted in no particular order
India Flexible Plastic Packaging Market News
- March 2024: UFlex Limited, India's premier multinational specializing in flexible packaging, planned to appear at Aahar 2024, a renowned international food and hospitality fair. Aahar, synonymous with the food and hospitality sector, provides an ideal stage for UFlex to unveil its cutting-edge flexible packaging solutions. At the exhibition, UFlex's flexible packaging division will present a diverse range of food-grade pouches and WPP bags, each boasting a suite of tailored features designed to meet the dynamic needs of the food industry.
- August 2023: Amcor PLC, a global leader in developing and producing responsible packaging solutions, acquired Phoenix Flexibles. This will expand Amcor’s capacity in the high-growth Indian market. Phoenix Flexibles has one plant in Gujarat, India. The business generates annual revenue of approximately USD 20 million from the sale of flexible packaging for food, home care, and personal care applications.
India Flexible Plastic Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growth for Lightweight and On-the-Go Consumption
5.1.2 Rise in Super and Hypermarkets in the Country
5.2 Market Restraints
5.2.1 Stringnet Govenrment Regulations Regarding Plastic Packaging
6. MARKET SEGMENTATION
6.1 By Material Type
6.1.1 Polyethene (PE)
6.1.2 Bi-oriented Polypropylene (BOPP)
6.1.3 Cast Polypropylene (CPP)
6.1.4 Polyvinyl Chloride (PVC)
6.1.5 Ethylene Vinyl Alcohol (EVOH)
6.1.6 Other Material Types (Polycarbonate, PHA, PLA, Acrylic, and ABS)
6.2 By Product Type
6.2.1 Pouches
6.2.2 Bags
6.2.3 Films and Wraps
6.2.4 Other Product Types (Blister Packs, Liners, etc)
6.3 By End-User Industry
6.3.1 Food
6.3.1.1 Candy & Confectionery
6.3.1.2 Frozen Foods
6.3.1.3 Fresh Produce
6.3.1.4 Dairy Products
6.3.1.5 Dry Foods
6.3.1.6 Meat, Poultry, And Seafood
6.3.1.7 Pet Food
6.3.1.8 Other Food Products (Seasonings & Spices, Spreadables, Sauces, Condiments, etc.)
6.3.2 Beverage
6.3.3 Medical and Pharmaceutical
6.3.4 Personal Care and Household Care
6.3.5 Other End user Industries ( Automotive, Chemical, Agriculture)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor Plc
7.1.2 Berry Global Inc.
7.1.3 Mondi PLC
7.1.4 Sealed Air Corporation
7.1.5 Sonoco Products Company
7.1.6 Uflex Limited
7.1.7 Jindal Polyfilms Ltd
7.1.8 Huhtamaki Oyj
7.1.9 Polyplex Corporation Limited
7.1.10 Constantia Flexibles GmbH
- *List Not Exhaustive
7.2 Heat Map Analysis
8. RECYCLING & SUSTAINABILITY LANDSCAPE
9. FUTURE OUTLOOK
India Flexible Plastic Packaging Industry Segmentation
The study on the Indian flexible plastic packaging market tracks demands in terms of revenue for flexible plastic packaging by material. It tracks the market size for respective end-user types. The Indian flexible plastic packaging market estimates include all the costs associated with flexible plastic packaging manufacturing, from raw material procurement to end-use industries. The estimates exclude the cost of the content that is or will be packed inside the flexible plastic packaging. The scope of the flexible plastic packaging market is limited to B2B demand. Market numbers have been arrived at using bottom-up and top-down approaches for segmentation, and volume has also been considered.
The India Flexible Plastic Packaging Market Report is Segmented by Material (Polyethene [PE], Bi-Oriented Polypropylene [BOPP], Cast Polypropylene [CPP], Polyvinyl Chloride [PVC], Ethylene Vinyl Alcohol [EVOH], and Other Material Types [Polycarbonate, PHA, PLA, Acrylic, and ABS]), Product Type (Pouches, Bags, Films and Wraps, and Other Product Types), End-User Industry (Food [Frozen Food, Dry Food, Meat, Poultry, and Sea Food, Candy & Confectionery, Pet Food, Dairy Products, Fresh Produce and Other Food (Seasonings & Spices, Spreadables, Sauces, Condiments, etc.)], Beverage, Medical and Pharmaceutical, Personal Care and Household Care, and Other End User Industry [Automotive, Chemical, Agriculture ]). The report offers market forecasts and volume (tonnes) for all the above segments.
| By Material Type | |
| Polyethene (PE) | |
| Bi-oriented Polypropylene (BOPP) | |
| Cast Polypropylene (CPP) | |
| Polyvinyl Chloride (PVC) | |
| Ethylene Vinyl Alcohol (EVOH) | |
| Other Material Types (Polycarbonate, PHA, PLA, Acrylic, and ABS) |
| By Product Type | |
| Pouches | |
| Bags | |
| Films and Wraps | |
| Other Product Types (Blister Packs, Liners, etc) |
| By End-User Industry | ||||||||||
| ||||||||||
| Beverage | ||||||||||
| Medical and Pharmaceutical | ||||||||||
| Personal Care and Household Care | ||||||||||
| Other End user Industries ( Automotive, Chemical, Agriculture) |
India Flexible Plastic Packaging Market Research FAQs
How big is the India Flexible Plastic Packaging Market?
The India Flexible Plastic Packaging Market size is expected to reach 4.96 million tonnes in 2024 and grow at a CAGR of 4.26% to reach 6.11 million tonnes by 2029.
What is the current India Flexible Plastic Packaging Market size?
In 2024, the India Flexible Plastic Packaging Market size is expected to reach 4.96 million tonnes.
Who are the key players in India Flexible Plastic Packaging Market?
Amcor Plc, Uflex Limited, Berry Global, Inc., Mondi Plc and Sonoco Products Company are the major companies operating in the India Flexible Plastic Packaging Market.
What years does this India Flexible Plastic Packaging Market cover, and what was the market size in 2023?
In 2023, the India Flexible Plastic Packaging Market size was estimated at 4.75 million tonnes. The report covers the India Flexible Plastic Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Flexible Plastic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Flexible Plastic Packaging Industry Report
Statistics for the 2024 India Flexible Plastic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Flexible Plastic Packaging analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
