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Print and Apply Labeling and Labeling Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

ReportLinker
ReportLinker

The India Paper Packaging Market is expected to register a CAGR of 6.63% over the forecast period. The rapidly growing food and beverage industry and the growing adoption of environmentally sustainable packaging will drive market growth.

New York, May 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Print and Apply Labeling and Labeling Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06459668/?utm_source=GNW


Key Highlights
The paper packaging business experienced growth over the last decade, owing to changes in substrate choice, expansion of new markets, changing ownership dynamics, and government initiatives to ban plastic. Sustainability and environmental issues continue to be emphasized, and various innovations catering to paper packaging are expected to drive market growth in India.
With a considerable increase in organized retail, the demand for paper packaging is expected to increase due to the rapid increase in supermarkets and modern shopping centers. Further, in June last year, the Central Pollution Control Board (CPCB), a federal agency under the Ministry of the Environment, released a list of steps to be taken to outlaw specific single-use plastic products by June last year. Such measures are expected to drive the demand for paper packaging in the country.
One of the most prominent end-users in the nation, e-commerce took advantage of the expanding Indian market. Paper packaging is predicted to experience significant expansion during the forecast period, driven by a young demographic profile, rising internet usage, and relatively better economic performance in recent years.
There are comparably fewer businesses in India producing advanced packaging machinery. The equipment cost is very high because it must be imported from other nations. When there is a greater need for equipment, it is anticipated that equipment from other countries will need to be purchased because there is less packaging equipment manufacturing in India.
Due to COVID-19, rising raw material and energy prices, a shortage of recycled fibers due to wastepaper collecting concerns, and the supply chain crisis’s rippling effects influenced the paper industry. With lead times increasing and indications that demand may be outstripping capacity, segments like the carton business have been under strain.

India Paper Packaging Market Trends

Rapidly Growing Food Packaging Sector in India is Expected to Hold a Major Market Share

Folding, corrugated, and rigid packaging make up the bulk of the paper food packaging market. These continue to dominate domestic competitors that have established leadership positions in corresponding sub-segments. Even if there is little activity in the packaging sector, many top international businesses see India as a beautiful place to invest. Huhtamaki, Rexam, Alpla, Toppan, Westrock, Amcor, Gerresheimer, and Essentra are a few foreign companies with operations in India.
To better meet the needs of barrier coating and water repellency, market players in the Indian food services market are trying to switch to paper packaging. Barrier coatings give paper water repellency and oil and grease resistance, making it suited for applications such as seafood, paper plates, and the ubiquitous takeaway boxes used in restaurants.
Drinks, such as fruit juices, alcoholic beverages, and meal-replacement shakes, favor paper container options. However, factors including pH, storage temperature, pressure, and pollutants can impact the quality of the beverage. The drink’s composition can change as the levels change. Businesses use biodegradable packaging materials with high barrier resistance (heat, moisture, and germs) more frequently to prevent potential oxidation.
Flexible paper packaging for beverages is being driven by the quickly spreading trend of lightweight packaging materials, with a predisposition toward lowering production, transport, and handling costs. E-commerce growth, which focuses on packaging trends with eye-catching design, is another factor driving demand.
One of the most critical factors driving the beverage carton packaging growth during the forecast period is people’s changing lifestyles, boosting the demand for ready-to-drink beverages. Furthermore, the increased beverage consumption in India fuels the market’s growth in the region.

Folding cartons Segment is Expected to Hold a Major Market Share

The folding carton packaging demand is expected to grow in India due to the increasing consumption of packaged foods and beverages. A few prominent players and many small paper manufacturing companies characterize the market.
Using recycled-grade packaging in non-contact categories like tea and breakfast cereals makes it the most common packaging type. Greenfield initiatives have fueled investments in paper production. India’s folding carton market is expanding due to essential elements like labeling, cutting-edge packaging, and the rising demand for pharmaceutical products.
Many local and international companies are investing in building new capacities and expanding their existing capabilities to meet the demand for folding carton packaging. For instance, TCPL announced the installation of a second Koenig & Bauer Offset printing machine at its plant in Goa. The facility will enhance the plant’s manufacturing capacity and improve customer service.
Overall, the Indian folding carton packaging segment is a buyer market due to the massive demand from end-user industries, such as food, beverages, pharmaceuticals, and retail, among others, as well as the significant dependence on imports to match the demand.

India Paper Packaging Industry Overview

The Indian Paper Packaging Market is significantly competitive owing to the presence of multiple domestic and international players operating in the country. The market is moderately fragmented. Some players operating in the market include WestRock India, Trident Paper Box Industries, and TGI Packaging Pvt. Ltd, Kapco Packaging, among others.

February 2022 - Tetra Pak partnered with Warana Dairy for holographic packaging on Warana Ghee’s Tetra Pak Cartons. These aseptic cartons protect the food inside from spoilage by creating barriers against external elements such as moisture, air, and sunlight. These are paper-based cartons, with 75% of the carton being paperboard and the remaining being polymer and aluminum to protect the food from spoilage. According to the company, these cartons are recyclable, with more than 40% recycled in India.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06459668/?utm_source=GNW

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