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Growth for the Indian Packaging Industry
Where does it stand right now?
According to a report titled ‘Plastic packaging: The sustainable choice’, prepared by FICCI and Tata Strategic Management Group (TSMG), the packaging industry in India is expected to reach a net worth of about $ 73 billion by the year 2020.It is anticipated that in the coming years, the Indian packaging industry will register an 18% annual growth rate.
Of the global packaging industry, the Indian packaging industry constitutes only about 4%, but the organised boom in e-commerce within the country offers huge potential for future growth of retailing, which in turn gives a boost to the packaging sector as well.
As various industries start paying more and more attention to sustainable and environmentally safe practices, the packaging industry too has undergone significant changes in the demands for various packaging material. For example, tin is slowly and steadily being removed from baby food packages as the demand shifts steadily towards cartons and cardboard boxes. On the other hand, products like liquid cartons and metal cans see a dynamic growth in the future as well.
At the core of it
The main crux of the growth of the packaging industry is however, the requirement of packaging products owing to the significant increase of e-commerce ventures that require packing materials in abundance to meet the delivery demands of their end users. At DCGPac, we are coming up with new innovations like economical packaging brands as well as high quality brands, to help create clear segregation for a highly focused impact which will contribute to the industry’s growth. This in turn will aid the packaging industry to innovate and meet the growing demands of the customers, and introduce new varieties in packaging.
On the whole, the growth of these requirements is plainly visible in a number of distribution centres in the Tier-II cities as most of the business start-ups as well as business giants expand their reach to cover as many areas of India as they can. Adding to this fact is the rapid digitisation of all industries, which has also allowed for packaging suppliers as well to offer their products and services online, providing higher accessibility to their user base.
Safe to say that the packaging industry is seeing unprecedented growth at the time of writing, and the future looks bright.