Packaging sector in India grows in the covid-19 times
In the times of COVID-19, industries across sectors have witnessed a slowdown globally. In India, during the lockdown period, manufacturing activities of essentials such as pharmaceutical, food and beverage, key commodities were permitted, which proved to be a blessing for the packaging sector. While other industries were struggling owing to the onslaught of coronavirus pandemic, packaging industry continued to grow in a slow and steady pace along with its demand rising significantly in the recent months.
Key market drivers to foster packaging growth in India
- Kraft and recycled packaging boards are growing at about 7.5 to 9% while virgin grades have witnessed a double digit growth in the last couple of years. As per reports, it is estimated that North India and Western Indian account for a consumption of 30 to 35% each, while South India consumes about 20 to 25 % and East India about 15%.
- Various segments such as automotive, garments and hosiery, food, personal, home and health care, leather, paper cups, pharma and smartphones are key drivers of packaging market growth in the near future.
- Industry should invest and support start-ups and take it to a logical conclusion for improving the demand for paper in newer exciting avenues such as moisture resistant paper, without a plastic substrate.
- Another important factor, which can drive growth and innovation in the packaging sector is possible if the industry works with researchers and think tank of chemists.
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