Market Size of India Paper Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 15.96 Billion |
| Market Size (2029) | USD 38.87 Billion |
| CAGR (2024 - 2029) | 19.48 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Paper Packaging Market Analysis
The India Paper Packaging Market size is estimated at USD 15.96 billion in 2024, and is expected to reach USD 38.87 billion by 2029, growing at a CAGR of 19.48% during the forecast period (2024-2029).
- The rapidly growing food and beverage industry and the growing adoption of environmentally sustainable packaging will drive market growth.
- The paper packaging business experienced growth over the last decade due to changes in substrate choice, new market expansion, ownership dynamics, and government initiatives to ban plastic. Sustainability and environmental issues continue to be emphasized, and various innovations catering to paper packaging are expected to drive market growth in India.
- 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. Further, in June last year, 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 last year. Such measures are expected to drive the demand for paper packaging in the country.
- One of the most prominent end-users in the nation, e-commerce took advantage of the expanding Indian market. Paper packaging is predicted to experience significant expansion during the forecast period, driven by a young demographic profile, rising internet usage, and relatively better economic performance in recent years.
- There are comparably fewer businesses in India producing advanced packaging machinery. The equipment cost is very high because it must be imported from other nations. When there is a greater need for equipment, it is anticipated that equipment from other countries will need to be purchased because there is less packaging equipment manufacturing in India.
- Due to COVID-19, rising raw material and energy prices, a shortage of recycled fibers due to wastepaper collecting concerns, and the supply chain crisis's rippling effects influenced the paper industry. With lead times increasing and indications that demand may be outstripping capacity, segments like the carton business have been under strain.
