India Food and Beverage Packaging Market Size More Than Doubles to Touch USD 86 Billion by 2029

Published | 01 January 2023

India food and beverage packaging market is flourishing because of increasing consumption of packaged food and beverages, growing preference for convenience foods, and increasingly changing consumer lifestyle in the country.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimates India food and beverage packaging market size at USD 31.75 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects India food and beverage packaging market size to grow at a significant CAGR of 14.8% reaching a value of USD 85.9 billion by 2029. Major factors for the expansion of India food and beverage packaging market include increasing consumption of packaged food, as well as growing awareness and surging demand for high-quality products. Due to initiatives to reduce agricultural crop waste, government investment in the food processing sector is developing new packaging options. It, in turn, is expected to boost the overall market expansion. The growth of the market is also aided by the expansion of organized retail, high disposable income of the middleclass population, and exports. As a result, consistent packaging is now essential to extend shelf life, maintain manufacturing speed, and ensure quality. A higher standard of living, increased affluence, and the fast-paced metropolitan lifestyle are all contributing to the growing trend of online food delivery paired with packaged food. Investors, such as Zomato, Swiggy, and Dunzo, are looking into the online food delivery market as it grows in popularity and packaging innovation. Thus, all these factors fuel the growth of India food and beverage packaging market during the period in analysis. However, increasingly stringent rules and regulations are anticipated to restrain the growth of India food and beverage packaging market.

India Food and Beverage Packaging Market– Overview

Food packing is the technique of packaging food to safeguard it from damage, contamination, spoilage, and insect attack during transportation, storage, and retail sales. The quantity of material, additives, nutritional value, cooking guidelines, shelf life, and other information are commonly labeled on packaging. The food packaging method included a range of flexible materials, including foil, plastic, and paper, as well as clothing, to create pouches, bags, bottles, cans, cartons, and trays. Packaged foods include dairy, convenience foods, confectionary, bakery, vegetables, fruits, meat, and sauces. The demand for eco-friendly and sustainable packaging is steadily increasing as public awareness grows. The country is focused more on long-term solutions, which are rapidly becoming a commercial necessity. Companies like Evirocor in India provide eco-friendly food packaging goods to food outlets, restaurants, hotels, hospitals, industries, caterers, and other consumers. The rising use of eco-friendly packaging is expected to drive market growth. Furthermore, the country is witnessing a shift in government rules aimed at reducing environmental pollution. As a result, market vendors are adopting innovative and sustainable packaging.

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Impact of COVID-19 on India Food and Beverage Packaging Market

The food and beverage packaging business recorded a dual impact on product demand because of the lockdowns imposed due to the COVID-19 pandemic outbreak. The supply chain problems caused by the COVID-19 pandemic slowed the market's growth rate. Fluctuations in raw material prices, as well as rigorous government regulations on the use of plastic, may further dampen the market's development rate. Several countries, including Italy, the United States, and India, experienced curfew-like situations in which all businesses (save vital services) were prohibited from operating. However, due to uncertainties surrounding the scenario, customers engaged in impulse shopping and stockpiling foods and necessities, including food products with extended shelf lives. Products require packaging, and manufacturing is higher than ever. Consumers prefer packaged products over loose products, such as fruits and vegetables. They have also preferred to purchase their food and beverage through channels other than those they used before to the pandemic. During the pandemic's initial phase, e-commerce platforms and click-and-collect transactions increased. After the transition from offline to online and the development of new types of online shopping experiences with various touch points for consumers, sales of food packaging solutions utilized in the e-commerce business soared.

India Food and Beverage Packaging Market – By Product Type

Based on product type, India food and beverage packaging market is segmented into Pouches & Bags​, Bottles & Jars​, Trays & Containers​, and Films & Wraps. The pouches and bags segment holds the highest market share. It is the most widely used type of flexible packaging in the food sector. Pouch packaging is being used by key players in the packaged food industry as one of the most practical and cost-effective packaging choices. Plastic pouches' growth is further spurred by their ability to allow co-polymerization and the addition of plasticizers, blowing agents, antibacterial compounds, and color-changing additives. Pouches are versatile, portable, and lightweight. Furthermore, advancements in pouch features (such as resealable closures, spouts, and tear notches) and pouch manufacturing technology (such as faster line speeds) continue to lower production costs, making pouches more inexpensive. Additionally, manufacturers are prioritizing the incorporation of features in products that make consumers' lives easier, such as zippered closure systems and lightweight choices. For instance, Nichrome employs India's first vertical pouch packaging equipment to package snacks, dried fruits, cereals, pulses, and other products.

Competitive Landscape

Major players operating in India food and beverage packaging market include WestRock India Private Limited, Parksons Packaging Ltd, P.R. Packagings Ltd, Autofits Packaging Private Limited​, Deccan Cans & Printers Pvt. Ltd, AGI glaspac, PGP Glass Private Limited, Amcor plc, Ball Corporation, and Crown. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Food and Beverage Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Food and Beverage Packaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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