Indian corrugated packaging box market

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The Indian corrugated packaging market was worth USD 15.76 million in 2020-2021 and the consumption of packaging in India has been growing.

The corrugated box market in India has strong growth potential. Domestic production will continue to be the top priority to meet regional demand, despite requests from industry organizations to limit containerboard imports. Yet imports will continue to satisfy domestic demand for corrugated paper packaging, especially virgin paperboard. Makreo Research in its latest study, “India Corrugated Packaging Market Future Outlook to 2027 – Segmentation by Type of Boxes, by Structure, by Domestic and Exports, by End User” identified that in India, among Tier I and Tier I cities level II, e-commerce growth has been tremendous in the year 2020. The expansion of digital shopping has been driven by changing consumer habits during Covid-19. In 2021, the Indian corrugated packaging box market has multiplied and offers double-digit growth in the near future.

The industry is highly fragmented, and there are many unprecedented containerboard producers. Small paper mills are equipped with obsolete machines. Most of them struggle to raise funds to expand and grow under pressure. Similar to corrugated manufacturing, the corrugated converting industry is highly fragmented, with many small companies operating at state and regional levels.

The rise in e-commerce transactions is driven by the increase in first-time buyers and the adoption of a digital-first approach. Social distancing has led to a huge increase in first-time online shoppers. Even though India’s top 5 metropolitan areas continue to dominate the e-commerce industry, Tier II and III cities have entered the fray with an increasing number of online customers. Amazon and Flipkart have taken their success in small towns even further by offering platform content in local languages.

Impact of COVID-19 on Indian Corrugated Board Packaging Market

COVID-19 outbreak has had a divisive effect on Corrugated Box industry in India. ICCMA members have experienced the Covid-19 epidemic to varying degrees depending on their clientele. A substantial drop in demand was felt by producers of goods for the automotive, electronics, consumer durables and consumer discretionary sectors. But an ordinary increase was seen in factories that produced consumer goods. However, the growth of the e-commerce sector in the era of COVID-19 has been quite beneficial, especially for companies that have served in this market. One of the many things that has changed as a result of the COVID-19 outbreak is food and beverage packaging. Single-use plastic suddenly became commonplace, reversing a pattern that had previously flourished as public health concerns demanded change.

Other Key Findings on Indian Corrugated Boxes Market

> Increasing sustainability: The corrugated box industry is undergoing rapid change as sustainability emerges as one of the most important topics on the global stage. The green movement has increased customer awareness of environmental issues, which has accelerated this transformation of the industry. Eco-friendly packaging materials like paper and natural fibers are a priority for brands.

> Increased digitalization: One of the big trends that will shape this period is digital transformation. The most effective option for managing productivity, accuracy and quality control is to adapt to automated packaging.

> Increase in smartphone users: India is expected to have 820 million smartphone users out of the total population by the end of 2022. Rural India has seen an annual growth of 36.2% in 2020, compared to a 7.1% growth in urban India in the same period in terms of Internet users. Smartphone penetration in rural India has increased from 9% in 2015 to 25.3% in 2020. These figures give rise to the increasing penetration of e-commerce in the economy where more than 3000 registered e-commerce sites are operated .

> Large youth population in India: India ranks 5th in the world in terms of youth population. This creates a demographic dividend for the nation and helps it achieve the $5 trillion economic goal. The large youth population provides both the market and the workforce for the corrugated packaging box industry. Young people are the drivers of innovation, entrepreneurship and diversity. India has over 50% of the population under the age of 25. In 2020, the average age of the population was 29 in India.

> Rising raw material costs: The rising cost of raw materials such as kraft paper, polymers and aluminum foil has had negative effects on the packaging industry. In the space of 10 days, the price of kraft paper has seen a sharp increase of INR 5,000 per ton and is expected to rise further.

Main topics covered:
Indian corrugated packaging market
By type
– 3 PLY
– 5 PLY
– 7 PLY
– 9 PLY
By modes
– Domestic
– Export
By facilities
– Organized
– Not organized
Per end user
• E-commerce industry in India

Key Companies in the Indian Corrugated Packaging Market
TGI Packaging Pvt. Ltd.,
Hariwansh Packaging Pvt. Ltd.,
Trident Paper Box Industries,
Packman Packaging Pvt. Ltd.,
Worth Peripherals Ltd,
Suppack

For more information on the research report, refer to the link below:
https://www.makreo.com/report/india-corrugated-packaging-market-report-future-outlook-to-2027

Related Makreo Research Reports
https://www.makreo.com/report/india-tiles-market-report-to-2027-revenue-future-outlook

https://www.makreo.com/report/global-gold-mining-market-outlook-to-2027

Contact us:
Makreo Search

Ankit Suri
mailto:[email protected]
+91-9619699069

801, Trishul Goldmine, Palm Beach Rd, Sector 15, Belapur, Navi Mumbai, Maharashtra 400614

Makreo is a market research and consulting company that works closely with business conglomerates around the world to help them with many aspects of growing their business and helping them make sound business decisions. using our qualitative and quantitative market insights.

This press release was published on openPR.

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