India Food & Beverage Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 35.93 Billion |
| Market Size (2029) | USD 49.27 Billion |
| CAGR (2024 - 2029) | 6.52 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Food & Beverage Packaging Market Analysis
The India Food & Beverage Packaging Market size is estimated at USD 35.93 billion in 2024, and is expected to reach USD 49.27 billion by 2029, growing at a CAGR of 6.52% during the forecast period (2024-2029).
The food packaging industry in India is poised for substantial growth in the coming years. This is largely attributed to the country's increasing consumption of packaged food, a heightened awareness of quality products, and a parallel demand for sustainable packaging.
- The food and beverage industry is pivotal in driving the expansion of packaging. With a focus on reducing agricultural waste, the growing investments in the food processing segment are creating new avenues for innovative packaging solutions. These investments are not only helping minimize waste but also enhancing the efficiency and effectiveness of packaging processes, thereby supporting the food packaging industry’s growth.
- Factors such as the expansion of organized retail, a rising middle-income group, and an uptick in exports are bolstering the industry. There is a heightened emphasis on uniform packaging to enhance shelf life, streamline production, and ensure product quality. The increasing purchasing power of the middle-income group is leading to higher demand for packaged food products, driving the need for advanced packaging solutions that meet evolving consumer preferences and regulatory standards.
- India's improving standards of living, increasing wealth, and fast-paced urban lifestyles are fueling the trend of online food delivery and the consumption of packaged foods. Key players in this space, including Zomato, Swiggy, and Dunzo, are witnessing a surge in their online food delivery services, backed by a wave of packaging innovations. These companies are continuously exploring new ways to enhance the consumer experience by adopting innovative packaging solutions that ensure the safety, quality, and convenience of delivered food items.
- However, supply chain disruptions owing to the COVID-19 pandemic created hindrances to the industry’s growth. Fluctuations in the prices of raw materials and stringent regulations imposed by the government on the application of plastic may further dampen the growth rate. The rising environmental concerns and the availability of environmentally friendly alternatives are also anticipated to hamper growth.
- The industry faces significant challenges, especially with the evolving regulations. Heightened environmental concerns, particularly around plastic packaging waste, have prompted governments to implement stricter regulations to curb environmental damage and enhance waste management practices. These regulatory changes are compelling companies to adopt more sustainable packaging materials and practices, which can be both a challenge and an opportunity for the industry. The industry's ability to adapt to these changes will play a crucial role in determining its future growth trajectory.
India Food & Beverage Packaging Market Trends
Rising Demand for Innovative and Sustainable Food Packaging is Expected to Drive the Industry’s Growth
- In India, packaged foods are gaining high traction owing to busy work schedules, the rising number of working women, and the shift toward on-the-go consumption. This is expected to increase the utilization of innovative and sustainable packaging in the food industry, fueling the industry’s growth over the forecast period.
- Nanofabrication technologies are emerging as ground-breaking solutions to create active materials for use in the design of packages, coatings, and packaging technologies. These solutions can help maintain and improve sensory and nutritional characteristics, increase food safety, and increase shelf life.
- With growing awareness, the requirement for eco-friendly and sustainable packaging is steadily rising. The country is focusing more on sustainable solutions, which is increasingly becoming imperative for business. Food outlets, restaurants, hotels, hospitals, industries, caterers, and all other users can get eco-friendly food packaging goods from companies like Evirocor in India. The increased use of eco-friendly packaging is anticipated to fuel the industry’s expansion.
- As per IBEF, India's food processing industry is poised for significant growth, driven by evolving lifestyles and dietary preferences due to increasing disposable incomes and urbanization. The industry has seen robust expansion, maintaining an average annual growth rate of approximately 7.3% between 2015 and 2022. Projections suggest that exports of processed fruits and vegetables will surge from USD 1,534 million in FY 2021 to an estimated USD 2,489 million by FY 2024.
- India is experiencing a shift in governmental policies, emphasizing environmental conservation. Consequently, market vendors are rolling out eco-conscious packaging solutions. Many are unveiling packaging lines crafted from sustainably sourced wood fibers, ensuring recyclability. These initiatives underscore the industry's commitment to curbing waste and promoting a product range that is entirely reusable, recyclable, and compostable.
Growing Usage of Pouches and Bags is Expected to Boost the Industry’s Growth
- Pouches and bags under flexible packaging are witnessing significant expansion. In the food packaging industry, they are the most used type of flexible packaging. As one of the most effective and affordable packaging options, players operating in this industry are choosing pouch packaging.
- The expansion of plastic pouches is fueled by their capacity to permit co-polymerization and by adding plasticizers, blowing agents, antibacterial chemicals, and color-changing additives. Pouches are adaptable, portable, and light. Improvements in pouch features (such as resealable closures, spouts, and tear notches) and pouch manufacturing technologies (such as equipment with improved line speeds) continue to reduce production costs, making pouches more affordable.
- Producers are emphasizing integrating features in items that make life easier for consumers, like zippered closure systems and lightweight options. For instance, Nichrome packages snacks, dry fruits, cereals, and pulses, among others, using India's first vertical pouch packaging equipment.
- Plastic bags are one of the nation's most popular types of plastic packaging. The rise in plastic bags in the nation is mainly due to expanding supermarket chains and Kirana outlets. Plastic carry bags are widely utilized nationwide for bakery, candy, supermarket, and butcher products.
- Furthermore, numerous retail outlets rely on packaging materials to preserve food freshness and retain its nutritional value. The demand for supermarket goods, particularly frozen and chilled meals, is projected to surge in the coming years, thereby propelling the growth of the industry. As per IBEF, the production volume of paper and plastic packaging in India is anticipated to climb from 435.2 million tons in 2021 to 690.0 million tons by 2028. These figures underscore the escalating adoption of diverse packaging materials, underpinning market expansion.
India Food & Beverage Packaging Industry Overview
The food packaging industry in India is fragmented due to the numerous businesses vying to increase their shares. Some major players in the market include Parekhplast India Limited, Essel Propack Limited, Pearl Polymers Ltd, TCPL Packaging Ltd, and UFlex Ltd. Companies are expanding their footprints across numerous end-user markets to increase their market presence.
- April 2024: Chemco Group, a player in the packaging industry, showcased its leadership by introducing an innovative stretch film line. This technology boasts an annual production capacity exceeding 1,000 tons, empowering businesses to meet rising demands without compromising quality. The debut of this line underscored Chemco Group's dedication to excellence, ensuring businesses have the operational efficiency and reliability they seek.
- March 2024: SIG, a Swiss packaging company, unveiled plans for a phased investment in its Ahmedabad plant. The first phase aims to boost production to 4 billion packs annually, with subsequent phases set to elevate this figure to 10 billion. In line with the UN Sustainable Development Goals, SIG is targeting net-zero greenhouse gas emissions by 2050.
India Food & Beverage Packaging Market Leaders
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Parekhplast India Limited
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Essel Propack Limited
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Pearl Polymers Ltd
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TCPL Packaging Ltd
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UFlex Ltd
*Disclaimer: Major Players sorted in no particular order
India Food & Beverage Packaging Market News
- July 2024: The Ministry of Food Processing Industries (MoFPI) greenlit a significant number of projects, including 41 mega food parks, 399 cold chain initiatives, 76 agro-processing clusters, and 588 food processing units under the PMKSY. MoFPI's initiatives, such as the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), the Production Linked Incentive Scheme for Food Processing Industry (PLISFPI), and the PM Formalization of Micro Food Processing Enterprises (PMFME) scheme, aim to propel the food processing industry forward. The PMFME scheme, with a budget of USD 1.19 billion, provided support to 92,549 micro-food processing enterprises. On the other hand, the PLISFPI scheme, backed by a total budget of USD 1.30 billion, is geared toward fostering global food manufacturing champions and bolstering the presence of Indian food brands on the international stage.
- July 2024: The Consumer Affairs Ministry proposed an update to the Legal Metrology (Packaged Commodities) Rules, 2011. The amendment targets pre-packaged commodities exceeding 25 kg or 25 liters, mandating the disclosure of crucial information when sold in retail markets. If passed, this amendment would necessitate manufacturers, packers, and importers to provide detailed labeling on all pre-packaged goods meant for retail, irrespective of their quantity. This move is anticipated to enhance transparency within the industry, empowering consumers to make more informed purchasing decisions.
Food Packaging in India 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 DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.4.1 Increasing Penetration of the Processed Food is Expected to Drive the Growth in Packaging
4.4.2 Acceleration in Packaging Machinery Imports, Leading to Proliferation of Food and Beverage Packaging Industry
4.5 Market Restraints
4.5.1 Lack of Exposure to Best Management and Manufacturing Practices
4.6 Assessment of COVID-19 Impact on the Industry
5. MARKET SEGMENTATION
5.1 India Food Packaging Market Segmentation
5.1.1 By Material
5.1.1.1 Plastic
5.1.1.2 Paperboard
5.1.1.3 Metal
5.1.1.4 Glass
5.1.2 By Type of Product
5.1.2.1 Pouches and Bags
5.1.2.2 Bottles and Jars
5.1.2.3 Trays and Containers
5.1.2.4 Films and Wraps
5.1.2.5 Other Types of Products
5.1.3 By Application
5.1.3.1 Dairy Products
5.1.3.2 Meat, Poultry, and Seafood
5.1.3.3 Bakery and Confectionary
5.1.3.4 Fruits and Vegetables
5.1.3.5 Other Applications
5.2 India Beverage Packaging Market Segmentation
5.2.1 By Material
5.2.1.1 Plastic
5.2.1.2 Paperboard
5.2.1.3 Metal
5.2.1.4 Glass
5.2.2 By Type of Product
5.2.2.1 Bottles
5.2.2.2 Cans
5.2.2.3 Pouches and Cartons
5.2.2.4 Caps and Closures
5.2.2.5 Other Types of Products
5.2.3 By Application
5.2.3.1 Carbonated Soft Drinks and Fruit Beverages
5.2.3.2 Beer
5.2.3.3 Wine and Distilled Spirits
5.2.3.4 Bottled Water
5.2.3.5 Milk
5.2.3.6 Energy and Sports Drinks
5.2.3.7 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Parekhplast India Limited
6.1.2 Essel Propack Limited
6.1.3 Pearl Polymers Ltd
6.1.4 TCPL Packaging Ltd
6.1.5 UFlex Ltd
6.1.6 Haldyn Glass Limited (HGL)
6.1.7 Piramal Glass Limited
6.1.8 HSIL Ltd
6.1.9 Hindusthan National Glass & Industries Limited
6.1.10 Hi-Can Industries Pvt. Ltd
6.1.11 Hindustan Tin Works Ltd
6.1.12 Deccan Cans & Printers Pvt. Ltd
6.1.13 Autofits Packaging Private Limited
6.1.14 P.R. Packagings Ltd
6.1.15 Parksons Packaging Ltd
6.1.16 OJI India Packaging Pvt. Ltd
6.1.17 WestRock India Private Limited
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
India Food & Beverage Packaging Industry Segmentation
The growth of organized retail, along with the boom in the e-commerce sector, is driving exponential growth in the industry. This has led to thousands of packets being delivered daily across the country, generating demand for high-quality product packaging.
The food packaging industry in India is segmented into food packaging market and beverage packaging market. The food packaging market is segmented by material (plastic, paperboard, metal, and glass), type of product (pouches and bags, bottles and jars, trays and containers, films and wraps, and other types of products), and application (dairy products, meat, poultry, and seafood, bakery and confectionary, fruits and vegetables, and other applications). The beverage packaging market is segmented by material (plastic, paperboard, metal, and glass), type of product (bottles, cans, pouches and cartons, caps and closures, and other types of products), and application (carbonated soft drinks and fruit beverages, beer, wine and distilled spirits, bottled water, milk, energy and sports drinks, and other applications). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
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Food Packaging in India Market Research FAQs
How big is the India Food & Beverage Packaging Market?
The India Food & Beverage Packaging Market size is expected to reach USD 35.93 billion in 2024 and grow at a CAGR of 6.52% to reach USD 49.27 billion by 2029.
What is the current India Food & Beverage Packaging Market size?
In 2024, the India Food & Beverage Packaging Market size is expected to reach USD 35.93 billion.
Who are the key players in India Food & Beverage Packaging Market?
Parekhplast India Limited, Essel Propack Limited, Pearl Polymers Ltd, TCPL Packaging Ltd and UFlex Ltd are the major companies operating in the India Food & Beverage Packaging Market.
What years does this India Food & Beverage Packaging Market cover, and what was the market size in 2023?
In 2023, the India Food & Beverage Packaging Market size was estimated at USD 33.59 billion. The report covers the India Food & Beverage Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Food & Beverage Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Food Packaging Industry Report
Statistics for the 2024 India Food Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Food Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
India Food Packaging Market Report Snapshots
