The flexible packaging market in India is expected to post a CAGR of more than 10% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the flexible packaging market in India from 2018-2022. (Graphic: Business Wire)
A key factor driving the market’s growth is the growing investments in the food processing sector in India. The Indian food processing industry is among the largest industries in the country, accounting for over 28% of the country’s total food market in 2017.
This market research report on the flexible packaging market in India provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing use of stand-up pouches as one of the key emerging trends in the flexible packaging market in India:
Flexible packaging market in India: Increasing use of stand-up pouches
Vendors are coming up with new and innovative packaging solutions to withstand the high competition in the flexible packaging market in India. Vendors are taking care to create packaging that is aesthetically appealing as well as tamper-proof to ensure effective supply chain management. Innovative packaging includes stand-up pouches, which are replacing cans to store processed food. Stand-up pouches offer flexibility and can be designed in various shapes and prints with high-quality graphics.
“On an average, a stand-up pouch weighs about 5% less than a glass bottle, thereby offering increased portability. Stand-up pouches also prove to be more advantageous than cans as they have a zip-lock feature which enables the contents to be sealed and re-used after opening. These characteristics of lightweight, portability, and reusability will lead to the increasing popularity of stand-up pouches over the forecast period,” says a senior analyst at Technavio.
Flexible packaging market in India: Segmentation analysis
This market research report segments the flexible packaging market in India by end-user to include the food and beverages industry, pharmaceutical industry, personal care industry, and others.
The food and beverage segment held the largest market share in 2017, accounting for close to 49% of the market, followed by the pharmaceutical segment. However, the market share of the food and beverage industry is expected to witness a decrease of more than 1% over the forecast period, while all the other three segments are slated to see a small increase in their market shares. The personal care industry is expected to exhibit the maximum increase in its market share by 2022.
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