Underpenetrated Packaging Industry in India 2019
Packaging is more than just about protecting and preserving the product. Today, it is an important branding tool as well. The Indian packaging industry offers great untapped potential. This is particularly evident when you compare India’s per capita packaging consumption with developed nations like the US. Here are 5 things about India’s underpenetrated packaging industry. Low Per Capita Consumption: Against the United States 109 kg per year, India ’s annual per capita packaging consumption is 10.5 Kg. In China, it is 45 Kg. This presents an ample and dynamic opportunity. The Key Market: For India’s packaging industry, the key consumers are food processing and pharmaceutical sector. While the former makes up nearly half the demand, the later accounts for 25% of the demand. Growth Drivers: Industry experts have identified three growth drivers for the industry. MNCs who have to comply with global policies and hence will have to adopt standard packaging solutions