The Indian economy is growing and so is the Packaging industry. As growth rides on increased industrial production and international trade, demands on package converters have become more intense and sophisticated.
In the Indian packaging industry, processed food packaging represents 48% of the total, personal care packaging is 27%, pharma is 6%, and the rest is 19%.
Indian packaging industry is expected to grow at 18% p.a. wherein, the flexible packaging is expected to grow at 25 % p.a. and rigid packaging to grow at 15 % p.a.
The Indian Label Industry is growing at a rate of more than 15% with several press manufacturers and label converters gearing up to challenges. The industry has rapidly evolved and is global in its outlook and delivery.
- India is expected to be among the top ten packaging consumers in the world by 2016.
- The In context to the Indian markets, industry at present is dominated by flexible plastics packaging.
- There has been a gradual shift from rigid to flexible packaging due to flexible packages being visually appealing, cheaper and durable.
- Flexible packaging converting industry in India is fragmented with a large number of small & medium enterprises that have converting capacities ranging from 500 to 4,000 tonnes per annum and a few large players have capacities above 5,000 tonnes per annum.
- The plastics and polymer consumption is growing at an average rate of 10%. Huge growth opportunities lie in India for plastics due to lower per capita consumption as compared to world average.
- Flexible packaging industry poised for strong growth due to huge and diversified consumer base.
- New applications & innovations in packaging development are driving growth in India.
India Converting Show will provide a global business platform to the escalating industry.