The latest report by IMARC, titled “India Green Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that India green packaging market size reached US$ 9.8 Million in 2021. Green packaging, also known as sustainable packaging, refers to a kind of packaging that utilizes reusable, compostable, or biodegradable materials. It also includes recycling and manufacturing techniques that reduce pollution. Some of the most commonly used materials for packaging include recycled paper, plant-based plastics, Styrofoam, and re-used polyethylene (PE) bags. It utilizes clean-energy, alternative sources, including solar wind and biofuel, for transportation purposes, thereby reducing the consequences of traditional packaging methods on the environment. In recent years, green packaging has gained traction in India as it reduces packaging waste generation, resulting in fewer carbon footprints.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will further be integrated into the report.
India Green Packaging Market Trends:
One of the primary factors driving the market is the rising environmental consciousness amongst the masses across the country. As a result, green packaging solutions are widely adopted in various industry verticals, including food and beverage (F&B), consumer goods, personal body care, pharmaceutical, and automotive. Other than this, the growing demand for ready-to-cook and ready-to-eat foods owing to the busy lifestyle is positively influencing the market growth. Besides this, numerous favorable initiatives implemented by the Government of India (GoI) to promote the utilization of eco-friendly packaging materials are propelling the market growth. Other growth-inducing factors include rapid urbanization, significant economic development in the country, expanding income levels of the masses, and numerous upgradations in packaging technology. Looking forward, IMARC Group expects the market value to reach US$ 14.7 Million by 2027, expanding at a CAGR of 7.1% during the forecast period (2022-2027).
- Based on the packaging type, the market has been divided into recycled content packaging (paper, plastic, metal, glass, and others), reusable packaging (drum, plastic container, and others), and degradable packaging.
- On the basis of the end use industry, the market has been segmented into food, beverage, healthcare, personal care, and other industries.
- Region-wise, the market has been classified into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.
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