Indian packaging industry expected to expand
According to the Indian Institute of Packaging (IIP), the India packaging industry may reach USD 43.7 billion by 2016. Currently the total turnover of the Indian packaging industry is USD 27.6 billion. The global turnover is about USD 550 billion.
The Indian packaging industry is growing by 12% each year, while the global industry is growing at 5% annually. However, India’s packaging consumption is much lower than that of many other countries. Currently India uses 4.3 kg of packaging per person per year. By contrast Germany uses 42 kg and China uses 20 kg per person per year. Much of India’s market currently consists of large unpackaged commodities with plenty of opportunity to package and present these commodities in new ways. India is home to approximately 22,000 packaging companies.