Research and Markets has declared the inclusion of a report titled, ‘Packaging Industry Outlook in India: Market Size, Key Trends, Drivers and Challenges to 2016’ to its list of offering.
According to the report, the Indian packaging industry is the sixth-biggest market in the globe, with revenues of $24.6 billion in the fiscal year 2011. The Indian packaging market is anticipated to become the fourth-biggest packaging market in the fiscal year 2016, with sales of $43.7 billion when it grows at a CAGR of 12.3%.
Increased consumer product consumption and retail growth in India are the major driving factors behind the growth of the country’s packaging industry. In terms of growth prospects, consumption and production, the food processing industry in India is one of the biggest in the world.
As per the report, the per capita packaging cost in India was $20 per year in the fiscal year 2011, a value much lower than the average value of $347.6 of the top 20 markets, indicating a huge business potential in India for packaging companies. Although consolidation occurs in the Indian packaging industry, it is mainly a fragmented market, especially after the launch of new firms in the country.
The report says that flexible plastic packaging was the rapidly developing sector in India, reaching a CAGR of 16.6% in the reporting period. The report includes Porter’s five forces analysis of the entire packaging industry and all the individual categories. It discusses in detail about the end-user markets and packaging categories for the entire packaging industry.