The India food and beverage packaging market is expected be valued at USD 122.78 billion by 2025.
The ever changing trend in the country of India is making high profits with packaged foods. With a rise in the number of working women with buzy work schedules and shift towards on-the-go consumption, which has brought about using innovative and sustainable packaging across the food sector and its likely to fuel the market’s growth. The increase in the spending capacity of middle income group, the rapid expansion of organized retail, and exports further promote the growth of the market. This has led to the want and need for standardized packaging that can improve product life, sustain the speed of production, and simultaneously ensure good quality quality. The rise in online food delivery buckled with packaged food, is also fueling growth to market owing to fast-moving life in urban cities.
Nanofabrication technologies are emerging as innovative solutions across the region to work towrads advancing active materials to use in the design of packages, coatings, and packaging technologies, which helps in maintaining and improving the nutritional characteristics , safety of foodstuffs, as well as increase their consumption pattern.
The country is focusing more on sustainable and eco- friendly solutions, which is increasingly becoming a business obligation.
With the ever so growing awareness, the demand for eco-friendly and sustainable packaging is steadily on the rise. With an increase in investment in food processing industries, to reduse agri-crops waste, is establishing scope for the expansion of packaging opportunities.
Coronavirus outbreak is expected to leave a positive impact on the packaging industry over the coming year. The requirement for plastic packaging which reduces the risk of contamination by minimizing the exposure is expected to be favoured.
With internet access and usage across the country, the infiltration of online retailing is growing. The India Brand Equity Foundation (IBEF) states that internet users in India are expected to increase from 665.31 million, as of June 2019, to 829 million by 2021. Therefore, with rise in online business model in the country, where one can shop both online and offline, has also boosted India's Food & Beverage Packaging Market. With the new trend online retailers are also launching their own private label brands, thus giving customers with more choices in products and channels to choose from, with this a study by KPMG in India and Retailers Association of India concluded that the food & beverage packaging market, expected to grow 1.3 to 1.6 times faster than e-commerce platforms and continue to earn 1.8 to 2 times higher margins than external brands.