Food Packaging Industry in India Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
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, which is, in turn, expected to ascend the utilization of innovative and sustainable packaging across the food sector. This is likely to fuel the market's growth over the forecast period.
Nanofabrication technologies are emerging as ground-breaking solutions throughout the region intending to create active materials for use in the design of packages, coatings, and packaging technologies that help maintain and improve sensory and nutritional characteristics and safety of foodstuffs and increase their 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 a business imperative.
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 market's expansion.
The India Food & Beverage Packaging Market size is expected to grow from USD 33.73 billion in 2023 to USD 46.25 billion by 2028, at a CAGR of 6.52% during the forecast period (2023-2028). India has seen sustainable packaging growth in food and beverage due to increased packaged food consumption and awareness and demand for quality products.
India's food and beverage sectors are the main drivers of the packaging market's expansion. Growing investment in the food processing sector is opening up new packaging opportunities due to efforts to reduce agricultural crop waste.
The expansion of organized retail, the rise in the middle-class population's purchasing power, and exports contribute to the market's growth. As a result, uniform packaging is now required to increase shelf life, maintain production speed, and guarantee quality.
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