India Paper and Paperboard Packaging Market Size

India Paper Packaging Market Analysis

The India Paper and Paperboard Packaging Market size is estimated at USD 12.87 billion in 2024, and is expected to reach USD 17.74 billion by 2029, growing at a CAGR of 6.63% during the forecast period (2024-2029).

• The paper and paperboard packaging business experienced growth over the last decade, owing to changes in substrate choice, expansion of new markets, changing ownership dynamics, and government initiatives to ban plastic. Sustainability and environmental issues continue to be emphasized, and various innovations catering to paper and paper board packaging are expected to drive market growth in India.
• India's paper and paperboard packaging industry proliferates and spans various end-user segments, such as food and beverages, healthcare, personal care, and household care. Strong favorable demographics aside, factors like growing disposable income levels, increasing consumer awareness, and demand for processed food are the key drivers impacting the growth of the paper and paperboard packaging industry.
• With a considerable increase in organized retail, the demand for paper packaging is expected to increase due to the rapid increase in supermarkets and modern shopping centers. Furthermore, in June 2022, the Central Pollution Control Board (CPCB), a federal agency under the Ministry of the Environment, released a list of steps to be taken to outlaw specific single-use plastic products by June 2022. Such measures are expected to drive the demand for paper packaging in the country.
• In India, there are comparatively fewer companies manufacturing modern equipment that is used for packaging. Since the packing equipment is purchased from other countries, the cost of the equipment is very high. Since in India, the manufacturing of packaging equipment is less when the demand for purchasing equipment grows, there is expected to be a lack of purchasing the equipment from other countries.
• The packaging industry witnessed some significant issues due to the COVID-19 pandemic, including the effects of the nationwide lockdown, companies moving to source away from China, and reconsidering materials used in packaging. Although the supply side of paper packaging witnessed a significant impact, a drastic increase in the end user demand in some applications significantly expanded the scope of the paper and paperboard packaging solutions, such as corrugated boxes, folding cartons, and many more.