Industry Overview

The packaging industry in India is very dynamic, and influences all
other industries directly or indirectly. The packaging industry, which
stood at $32 billion in 2015, had grown at a compound annualized
growth rate (CAGR) of 15 percent for the last five years, and is
expected to continue growing at a CAGR of 13 to 15 percent in the
coming years About 45 percent of the packaging machinery and materials produced is absorbed by the food processing sector alone India’s imports of packaging equipment currently stand at over $130 million  a year. India’s imports of packaging equipment for food processing are mainly automated machines and systems.
Flexible packaging is the fastest growing subsector of India’s
packaging industry, The flexible packaging segment is estimated to
be growing at a rate of over 35 percent annually. The food processing sector is one of the biggest users of flexible packaging, accounting for more than 50 percent of total demand.

Indian food processing industry contributes around 14% of manufacturing Gross Domestic Product (GDP), 13% of India’s exports and 6% of total industrial investment. The adoption of food safety and quality assurance mechanisms, such as Total Quality Management (TQM), including ISO 9000, ISO 22000, Hazard Analysis and Critical Control Points (HACCP), Good Manufacturing Practices (GMP) and Good Hygienic Practices (GHP) by food processing industry offers several benefits.