Market Trends of India BOPP Films Industry
This section covers the major market trends shaping the India BOPP Films Market according to our research experts:
Growing Demand for Packaged Food to Drive the Market Growth
- The packaged food or ready to eat food is one of the fastest-growing segments, especially in urban centers. The fast-paced life in urban cities and the steep rise in income and the standard of living is leading to the increasing use of packaged food.
- According to the IBEF, the Indian food and grocery market is the world’s sixth-largest, with retail contributing 70% of the sales. The Indian food processing industry accounts for 32% of the country’s total food market, one of the largest industries in India, and is ranked fifth in terms of production, consumption, export, and expected growth. Also, according to the data provided by the Department of Industrial Policies and Promotion (DIPP), the food processing sector in India received around USD 7.54 billion worth of foreign direct investment (FDI) during April 2000-March 2019
- Moreover, companies are investing in the Indian food market. For instance, Cargill Inc., a US-based food company, aims to double its branded consumer business in India by the end of 2020, by doubling its retail reach to about 800,000 outlets and increasing market share to become a national leader in the sunflower oil category, which will help the company be among the top three leading brands in India.
Understand The Key Trends Shaping This Market
Download Sample
Industrial Application of BOPP to Grow Significantly
- BOPP film is part of the wider polyolefin chemical family, which means it can be laminated with polyethylene film, and still be widely accepted in the recycling waste stream. In many applications, the consumption of BOPP film has benefitted from the sustainability drive at the expense of other polymers. Also, when organoclay and nanocomposite materials are blended with BOPP, their barrier properties are enhanced. PVA (Poly(vinyl alcohol)) and MA (Maleic Anhydride) are the most suitable materials for minimizing the oxygen permeability of the films.
- Due to the high growth rate in the Indian economy, the BOPP market in the country is witnessing a high growth rate because of the surging development of the pharmaceutical, retail, cosmetic industry apart from the food and beverage industry. The e-commerce sector has one of the largest applications of BOPP self-adhesive tapes in the country, as it offers superior mechanical and optical features.
- In India, owing to the low cost of production, the players are expanding their production capacities to meet the increasing demand for BOPP. For instance, Cosmo films has announced to increase its production capacity of BOPP to 0.035 million megatons, which is expected to be commercialized by the end of 2020. Similarly, Jindal Polyfilms will increase its production capacity to 0.044 million megatons.
