The Indian flexible packaging market is to grow at a CAGR of about 24.3% over the next five years, along with the steady economic growth of the country.
The report depicts an overall analysis of factors centered on the rate of flex-pack market expansion up to 2023. Vital driving factors influencing the Indian economy and the flex-pack industry’s contribution in growth in the Indian market are foregrounded in this report.
Consumer packaging in India mainly consists of rigid packaging (~72%) and flexible packaging (28%). The Indian packaging industry is witnessing a gradual shift from rigid to flexible packaging as flexible packages are visually more appealing and cheaper compared to rigid packages. Plastic is the most common form of packaging being used. It has a dominant share in the Indian packaging market. Currently, the plastics and polymer consumption in India is growing at an average annual rate of about 10%.