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• What could push India’s equity market higher in the long run?

Key takeaways

• India’s GDP is expected to grow at a rate of 6.1% over the next five years, making it the world's third-largest economy by 2027.
• Manufacturing and exports are key to the next wave of economic growth in India.
• Sectors such as electronic manufacturing, power and infrastructure are set to gain from India’s push to become a top beneficiary of supply chain relocation.

Can India’s bull market run continue?

Indian equity markets scaled new all-time highs this year and apart from a period of volatility around the time of the general election, its stocks have consistently outperformed Emerging Market (EM) peers.

Since the low of the pandemic in March 2020, the blue-chip NSE Nifty 50 has climbed over 200%, with the total market cap of India’s stock market now around $5 trillion, as investors have grown increasingly positive on India’s long-term economic growth potential.

While stocks have continued to rise, recent trading has been volatile and data points in the last couple of months have given investors pause, following lackluster first quarter (Q1) earnings and slowing GDP growth, which cooled to a 15-month low.

“I am more cautiously optimistic on a near-term basis. An extreme heatwave followed by flooding has impacted demand, while earnings and growth in the last quarter have not met expectations. This is different from the situation we’ve had for the last three years. The market has been a bit range-bound rather than continuing with the same bullish trend we have been used to from 2021 onward,” said Rajiv Batra, Head of Asia Pacific (ex-Japan/China) Equity Strategy at J.P. Morgan.

Strong returns in India have been primarily driven by domestic institutional investors and a surge in retail participation. Rising investor interest in India is starting to form a virtuous cycle of liquidity, sell-side coverage, investor participation and capital issuance.

But India is still a largely under-allocated market for major EM portfolio managers relative to other EM countries, and benchmarks and foreign investment have slowed in recent months. Average portfolio inflows (around $1.7 billion) in May­–June roughly halved from their Q1 2024 pace, according to J.P. Morgan Research data. 

“I am more cautiously optimistic on a near-term basis. An extreme heatwave followed by flooding has impacted demand, while earnings and growth in the last quarter have not met expectations. This is different from the situation we’ve had for the last three years.”

Rajiv Batra

Head of Asia Pacific (ex-Japan/China) Equity Strategy, J.P. Morgan

Since the start of this year, strong debt inflows to EM Asia have been narrowly based in Korea and India, with the latter benefitting from its recent inclusion in the J.P. Morgan GBI-EM bond index, while other countries in the region saw either tepid inflows or outright outflows. But this trend has started to turn. As well as debt flows, after receiving strong equity inflows worth $6.5 billion over June–July, India recorded outflows worth $0.5 billion through August.

“We don’t expect to see a material surge for the next couple of months or so in the equity market, despite the market almost touching the 25,000 mark. State elections are approaching and have become incrementally important, even from a foreign investor perspective. Investors tend to hold off on trading and stay on the sidelines until after the elections,” Batra said. 

India’s economic growth is a long-term theme

India has become one of the fastest growing economies in the world, with real gdp set to grow by 6.5% in 2024, according to j.p. morgan economics research. based on international monetary fund (imf) data, the nation will clock a growth rate of 6.1% over the next five years, making it the world’s third-largest economy by 2027 after the u.s. and china. it is expected  to double its current annual gdp of $3.5 trillion to $7 trillion by 2030., india 2024–25 real gdp growth is the highest in em.

India’s real GDP growth for 2024–2025 is the highest among EM.

Short term, the shock effect of demand fluctuations and abnormal weather will likely dent the earnings outlook, but India’s long-term growth thesis remains unchanged, with the economy’s compelling structural factors and growth profile capturing investor interest.

The country’s list of positive, long-term economic drivers is long: the demographic dividend with increasing urbanization and rising wealth, a healthy ecosystem of effective regulatory processes, a strong infrastructure push by the government, a manufacturing sector gaining traction under supply chain diversification, sustainable and pro-industry policies and growing renewable energy capacity.

The so-called demographic dividend is expected to persist until at least 2055–56 and to peak around 2041, when the share of the working-age population (20–59 years) is expected to reach 59%. The middle class is the fastest-growing social segment, rising at 6.3% per annum since 1995 and representing around a third of the population.

India working age group (15–64) will continue to expand until 2050s

India’s working age population will continue to grow, peaking at around 59% in 2041. 

India’s share of the MSCI EM Index has also grown steadily to an all-time high of 20.5% and will continue to increase its weight within EM, according to J.P. Morgan forecasts.

With the nation’s list of economic strengths and a government looking to unlock potential, the stage is set for a possible multi-year bull run, but the country’s export expansion targets — that will need to be backed by a strong manufacturing growth push — will be key.   

India’s rising role in the global supply chain

The government has laid out ambitious plans for goods exports to hit $1 trillion annually by 2030, as the country hopes to become a top alternative for companies looking to diversify their supply chains away from China. Overall exports reached $778.2 billion for the 2024 fiscal year, data from the Ministry of Commerce showed.

Manufacturing in India still accounts for less than 20% of the economy — a figure that has remained relatively flat in the last decade compared with the growth seen in other sectors.

“A lot of India’s manufacturing capital expenditure (capex) has led to import substitution rather than export growth. India’s imports as a percentage of GDP have come down quite substantially because industries are being localized and goods are being produced in India, but this manufacturing growth needs to translate into a larger part of the global export share,” Batra said. 

India’s manufacturing share of GDP is expanding after years of investment

India’s manufacturing share of GDP is set to reach 25% by the end of 2025.

“On the services side — in IT, commerce, accounting, biotech — India is there, but the manufacturing side is what’s needed to push GDP higher to 2030 and beyond that, to 2047, in order to reach the Prime Minister’s Viksit Bharat (developed nation status) goal,” Batra added.

But green shoots are starting to emerge for India’s manufacturing and export industry. As global businesses are increasingly looking to diversify supply chain risk, India is expected to gain from firms reducing their reliance on China, according to J.P. Morgan Research. The country’s labor cost advantages are a strong selling point compared with the rising costs in China. Plus, exports have emerged as the largest contributor to India’s GDP post-COVID, as government incentives are starting to pay off.

India is targeting supply chain growth in a few key areas:

Manufacturing

The “Make in India” campaign launched in 2015 and encourages firms to manufacture and assemble products in the country. The Production-Linked Incentives (PLI) scheme offers cash incentives to firms in a range of industries, such as pharmaceuticals, automobiles, textiles and electronics. Under the scheme, qualifying companies receive cash incentives if they are able to boost their sales above the base year, every year, over a period of five years.  

Infrastructure investment

Policymakers have made unprecedented investments in modern infrastructure, launching the National Infrastructure Pipeline (NIP) and PLI schemes over the past nine years. India plans to spend $1.4 trillion on infrastructure through NIP in the next five years and Indian railways have also witnessed a massive capacity expansion through line doubling, electrification and the Vande Bharat Express, India’s first indigenous semi-high-speed service. The metro rail projects have reached 21 cities. In the aviation sector, 75 new airports have been built and operationalized in the past 10 years. A further 111 waterways have been declared as National Waterways. 

Clean energy

The government is also focusing on clean energy transition so India can reduce reliance on imports and achieve net zero by 2070. India currently has a renewable energy capacity of 197.20 GW with an estimated investment of $360 billion needed to achieve the government’s target of increasing installed renewables capacity to 500 GW by 2030.

“Structural reforms are changing the way business is conducted in India and the resulting efficiency gains are set to be significant, driving permanent productivity increases. A strong infrastructure push, pro-industry policies and government spending are all helping to position India as a global manufacturing hub for the long term,” said Batra.

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• PESTEL Analysis, SWOT Analysis and Risk Analysis of India

India PESTLE Analysis & Macroeconomic Trends Market Research Report.

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2 . PESTEL Analysis, SWOT Analysis and Risk Analysis of India

India PESTEL Analysis

This report covers India's PESTEL (political, economic, social, technological, environmental and legal) analysis.

India SWOT Analysis

This market research report covers SWOT (strengths, weaknesses, opportunities and threats) analysis for India.

India Risk Analysis

This market research report covers current and future business risk analysis for India along with macroeconomic factor analysis.

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Market Research in India

India stands as a canvas of endless opportunities with myriad cultures, languages, and consumer behaviors – and with its booming economy, shifting consumer trends, and evolving industries, India represents a dynamic, ever-changing business landscape. For this reason, market research in India plays an integral role in navigating through the country’s complex and diverse marketplace. 

India is a market worth looking into, and there’s good reason for all the excitement surrounding the country’s rising middle class and its emergence in the world economy.

Why is market research in india important.

In a nation where the market dynamics are as diverse as its rich cultural tapestry, market research in India stands out as a crucial tool for businesses. It also acts as the compass guiding businesses through the dynamic economic terrains of the country. The Indian market is characterized by rapid changes in consumer preferences, influenced by factors such as technological advancements, globalization, and socio-economic developments. Staying attuned to these shifts is paramount for businesses to remain relevant and competitive in this bustling market space.

Market Research in India and Its Benefits 

Market research in India provides a myriad of advantages for businesses vying for a piece of the country’s economic pie. Below are some of the core benefits:

• In-Depth Understanding of Consumers: India is home to a diverse populace with varying tastes, preferences, and buying habits.  Market Research in India aids in decoding these variations, offering businesses a lens through which they can tailor their offerings to meet the distinct needs of different consumer segments.

• Identification of Market Opportunities: With its rapidly growing economy, India presents numerous untapped opportunities across various sectors. Through market research, companies can identify these potential goldmines, understanding where their products or services would garner the most traction.

• Competitor Analysis: The Indian market is fiercely competitive with many local and international players. Conducting market research provides businesses with a clearer picture of the competitive landscape, helping them to position themselves effectively and devise strategies that give them a competitive edge.

• Optimized Marketing Strategies: Understanding the cultural nuances and consumer behaviors enables businesses to create marketing campaigns that resonate with the target audience, ultimately leading to higher engagement and conversion rates.

• Product Development Insights: Market Research in India offers valuable input during the product development phase, helping businesses design products or services that align closely with the needs and expectations of the Indian consumer, thereby increasing the likelihood of market acceptance and success.

The Strength of the Indian Economy

The middle class is growing fast and is made up of young people very familiar with US brands.

India is second only to China in terms of population. While Hindi is the official language, India has the second largest population of English speakers in the world – more than 150 million – which they learn in school.

Main Attractions and Cities in India

India is well known for its rich cultural heritage, breathtaking landscapes, and historical landmarks. Understanding these attractions through market research is vital for businesses in the tourism and hospitality sector, as it offers insight into tourist behavior, popular destinations, and potential investment areas. Here’s a glimpse into the main tourist places that captivate visitors in India:

• Taj Mahal: Located in Agra, the Taj Mahal is an iconic symbol of India’s rich history and cultural heritage. This UNESCO World Heritage Site attracts millions of tourists annually, making it a focal point for tourism-related businesses.

• Jaipur: Known as the ‘Pink City’, Jaipur is famed for its distinctive architecture and vibrant markets. With palaces, forts, and a thriving handicraft industry, Jaipur is a magnet for cultural tourism.

• New Delhi: The capital city is a blend of historical significance and modernity, housing several monuments, museums, and vibrant markets.

• Himalayan Region: For adventure tourism businesses, the Himalayan region offers opportunities for trekking, mountaineering, and scenic tours.  Market research in India can help in understanding the potential and challenges of operating in this majestic yet rugged terrain.

Key Industries in India to Consider

India’s economic landscape offers various booming industries that reflect the nation’s development trajectory and socio-economic dynamics. Below are some key industries that stand out in the Indian market:

• Information Technology (IT) and Software Services: The IT sector in India is a global powerhouse, providing software and services to clients worldwide. With cities like Bangalore, Hyderabad, and Pune serving as major IT hubs, market research can unveil opportunities in areas like software development, IT services, and business process outsourcing (BPO).

• Agriculture: As a traditionally agrarian economy, agriculture is a vital industry in India. The sector offers diverse opportunities, ranging from crop cultivation and organic farming to agribusiness and agricultural technology.

• Automobile: With a robust manufacturing base and increasing domestic demand, the automobile industry in India presents lucrative opportunities. Through market research in India, businesses can explore areas like electric vehicles, automotive components manufacturing, and after-market services.

• Telecommunications: The telecom sector in India has witnessed exponential growth, driven by the widespread adoption of mobile phones and internet services. Therefore, market research in India can shed light on the evolving telecom infrastructure, consumer behavior regarding data consumption, and opportunities in related services and technologies.

• Textiles and Garments: As a major exporter of textiles and garments, India holds a significant position in the global fashion and apparel industry.  Market research in India in this sector can help businesses understand the supply chains, labor dynamics, and market trends driving this industry.

What Are the Opportunities for Businesses?

For businesses considering the Indian market, the spectrum of opportunities is vast and multifaceted. Market research in India is a major gateway to understanding and capitalizing on these prospects effectively. These are some promising areas that businesses can explore:

• Consumer Goods Sector: With a burgeoning middle class and rising disposable incomes, there’s a growing demand for a wide array of consumer goods.  Market research can offer insights into consumer preferences, buying behaviors, and emerging trends in this sector, paving the way for successful product launches and marketing campaigns.

• E-Commerce Boom: The e-commerce industry in India is experiencing unprecedented growth. Businesses can leverage market research to understand online buying patterns, popular e-commerce platforms, and effective digital marketing strategies to tap into this booming digital marketplace.

• Health and Wellness Industry: The wellness and healthcare sector is expanding rapidly, with opportunities in pharmaceuticals, medical equipment, health services, and wellness products.

• Financial Services: With increasing financial literacy and the growing adoption of banking and investment services, there’s significant potential in India’s financial sector. Market research in India can help businesses understand the needs and preferences of Indian consumers regarding banking, insurance, and investment products.

• Travel and Tourism: Understanding the diverse travel and tourism landscape in India can provide businesses with a roadmap for investment and development in this sector, with market research in India offering insights into traveler demographics, popular destinations, and evolving tourism trends.

Main Challenges of Market Research in India

Market research in India is not without its set of challenges. Thus, understanding these hurdles is essential for any business looking to navigate the complex Indian market successfully. Here’s an overview of the challenges that researchers and businesses might encounter:

• Diverse Consumer Base: India’s population is incredibly diverse in terms of culture, language, and socio-economic status. This diversity can make it challenging for market research in India to formulate a one-size-fits-all approach, necessitating nuanced and region-specific research strategies.

• Data Accuracy: Accurate data collection and interpretation can be challenging due to factors like literacy rates, language barriers, and the sheer scale of the population. Ensuring the reliability of market research in India requires careful planning and execution of data collection methodologies.

• Rapid Market Changes: The Indian market is dynamic, with consumer preferences and behaviors changing rapidly. Keeping market research in India up-to-date and reflective of these shifts requires constant monitoring and adaptability to the fast-paced market environment.

• Regulatory Landscape: India has a unique and sometimes complex set of laws and regulations that govern business operations and market research practices. Understanding and complying with these regulations is crucial for succeeding in this market.

About Market Research in India

India has a vast collection of trained knowledge professionals who can supply companies with data processing, analysis and reporting, which is the reason why it is the favored outsourcing destination for market research.

Another reason is cost: many companies have seen their market research costs fall by 40-60 percent after outsourcing to India. These companies provide the same services as those in the US: helping companies develop a holistic understanding of marketing programs, market niches and consumers.

Many industries are now taking a serious look at the rural markets. Close to seventy percent of India’s population (742 million), live in rural villages, while only 285 million live in urban areas. The rural market has been growing five times as fast as the urban market. The problem with rural marketing is the cost, which can be prohibitive due to the vastness of the country. In addition, there are large areas and groups of people who have remained beyond the recent technological breakthroughs, and they will be harder to reach on several levels.

With the wide range of market research firms doing business in India, it’s not hard to find one that’s a good fit from an industry perspective. It’s also easy to find white papers and industry-related publications, and many industries have associations that one can become a member of.

Considerations for Doing Business in India

Though India is of great interest to brands, doing research is expensive and difficult.

The country has twenty-eight states with different cultural nuances, languages and consumption habits. Market research has won acceptance in India and an increasing number of companies have made room for it in their budgets.

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India Retail Market

India Retail Market Size, Share, Trends, Report, Analysis: By Product: Food, Beverage, and Grocery, Personal and Household Care, Apparel, Footwear, and Accessories, Furniture and Home Decor, Industrial and Automotive, Others; By Sector; By Distribution Channel; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

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India Retail Market Size

The India retail market reached USD 952.02 billion in 2023. The market is projected to grow at a CAGR of 11.4% between 2024 and 2032, reaching almost USD 2542.22 billion by 2032.

Key Takeaways:

• Supermarkets account for nearly 12%-15% of all consumer goods sales in India.
• Kirana stores account for nearly 75%-78% of all consumer goods sales in India.
• Omnichannel retail is expected to remain popular among Indian consumers over the forecast period.

The entry of several multinational companies into India, driven by its rising population size, increasing disposable incomes, and positive rates of consumption has become one of the key India retail market trends. Since 2021, 24 new global brands have entered the Indian market, which has favourably affected the India retail market growth. 1/4th of these new entrants operate in the food and beverage category, which is expected to remain one of the key growth segments over the forecast period.

The most heavily concentrated regions for the India retail market include Delhi NCR, Mumbai, Chennai, Pune, Kolkata, Hyderabad, and Bengaluru, with South India taking up the biggest market share. The emergence of new technologies like augmented reality is expected to enhance the customer experience in brand retail stores and drive the India retail market growth in the forecast period.

Small and medium-sized kirana stores are the most popular form of retail outlet in India. This is because they offer a wide range of goods and are easily accessible in remote regions. Their product offerings include everything ranging from groceries to electronics and footwear to clothing items. They provide home deliveries to their regular customers and are easily reachable through phones.

In recent times, supermarkets have emerged as modern retail outlets in major Indian cities. They enable consumers to shop for their daily necessities through their neatly stacked shelves of groceries, food, and other essential items. This is expected to contribute to the India retail market expansion in the forecast period.

Market Segmentation

India Retail Industry Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Food, Beverage, and Grocery
• Personal and Household Care
• Apparel, Footwear, and Accessories
• Furniture and Home Décor
• Industrial and Automotive
• Electronic and Household Appliances
• Pharmaceuticals

Market Breakup by Sector

• Unorganised

Market Breakup by Distribution Channel

• Hypermarket and Supermarket
• Convenience Stores
• Speciality Stores

Market Breakup by Region

• North India
• East and Central India
• South India

The key India retail market players are Reliance Industries Limited, Aditya Birla Group, Avenue Supermarts Limited (DMart), Tata Sons Private Limited, Vijay Sales (INDIA) Private Limited, V--Mart Retail Ltd., K Raheja Corp. (Shoppers Stop Ltd.), Landmark Group, V2Retail Ltd., and RP Sanjiv Goenka Group (Spencer’s Retail Limited), among others.

Key Highlights of the Report

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface 2    Report Coverage – Key Segmentation and Scope 3    Report Description     3.1    Market Definition and Outlook     3.2    Properties and Applications     3.3    Market Analysis     3.4    Key Market Players 4    Key Assumptions 5    Executive Summary     5.1    Overview     5.2    Key Drivers     5.3    Key Developments     5.4    Competitive Structure     5.5    Key Industrial Trends 6    Market Snapshot 7    Opportunities and Challenges in the Market 8    Asia Pacific Retail Market Overview     8.1    Key Industry Highlights     8.2    Asia Pacific Retail Historical Market (2018-2023)      8.3    Asia Pacific Retail Market Forecast (2024-2032) 9    India Retail Market Overview     9.1    Key Industry Highlights     9.2    India Retail Historical Market (2018-2023)      9.3    India Retail Market Forecast (2024-2032) 10    India Retail Market by Product     10.1    Food, Beverage, and Grocery         10.1.1    Historical Trend (2018-2023)         10.1.2    Forecast Trend (2024-2032)     10.2    Personal and Household Care         10.2.1    Historical Trend (2018-2023)         10.2.2    Forecast Trend (2024-2032)     10.3    Apparel, Footwear, and Accessories         10.3.1    Historical Trend (2018-2023)         10.3.2    Forecast Trend (2024-2032)     10.4    Furniture and Home Decor         10.4.1    Historical Trend (2018-2023)         10.4.2    Forecast Trend (2024-2032)     10.5    Industrial and Automotive         10.5.1    Historical Trend (2018-2023)         10.5.2    Forecast Trend (2024-2032)     10.6    Electronic and Household Appliances         10.6.1    Historical Trend (2018-2023)         10.6.2    Forecast Trend (2024-2032)     10.7    Pharmaceuticals         10.7.1    Historical Trend (2018-2023)         10.7.2    Forecast Trend (2024-2032)     10.8    Others 11    India Retail Market by Sector     11.1    Organised         11.1.1    Historical Trend (2018-2023)         11.1.2    Forecast Trend (2024-2032)     11.2    Unorganised         11.2.1    Historical Trend (2018-2023)         11.2.2    Forecast Trend (2024-2032) 12    India Retail Market by Distribution Channel     12.1    Hypermarket and Supermarket         12.1.1    Historical Trend (2018-2023)         12.1.2    Forecast Trend (2024-2032)     12.2    Convenience Stores         12.2.1    Historical Trend (2018-2023)         12.2.2    Forecast Trend (2024-2032)     12.3    Speciality Stores         12.3.1    Historical Trend (2018-2023)         12.3.2    Forecast Trend (2024-2032)     12.4    E-Commerce         12.4.1    Historical Trend (2018-2023)         12.4.2    Forecast Trend (2024-2032)     12.5    Others 13    India Retail Market by Region     13.1    North India         13.1.1    Historical Trend (2018-2023)         13.1.2    Forecast Trend (2024-2032)     13.2    East and Central India         13.2.1    Historical Trend (2018-2023)         13.2.2    Forecast Trend (2024-2032)     13.3    West India         13.3.1    Historical Trend (2018-2023)         13.3.2    Forecast Trend (2024-2032)     13.4    South India         13.4.1    Historical Trend (2018-2023)         13.4.2    Forecast Trend (2024-2032) 14    Market Dynamics     14.1    SWOT Analysis         14.1.1    Strengths         14.1.2    Weaknesses         14.1.3    Opportunities         14.1.4    Threats     14.2    Porter’s Five Forces Analysis         14.2.1    Supplier’s Power         14.2.2    Buyers Powers          14.2.3    Threat of New Entrants         14.2.4    Degree of Rivalry         14.2.5    Threat of Substitutes     14.3    Key Indicators for Demand     14.4    Key Indicators for Price 15    Competitive Landscape     15.1    Market Structure     15.2    Company Profiles         15.2.1    Reliance Industries Limited              15.2.1.1    Company Overview             15.2.1.2    Product Portfolio             15.2.1.3    Demographic Reach and Achievements             15.2.1.4    Certifications         15.2.2    Aditya Birla Group              15.2.2.1    Company Overview             15.2.2.2    Product Portfolio             15.2.2.3    Demographic Reach and Achievements             15.2.2.4    Certifications         15.2.3    Avenue Supermarts Limited (DMart)              15.2.3.1    Company Overview             15.2.3.2    Product Portfolio             15.2.3.3    Demographic Reach and Achievements             15.2.3.4    Certifications         15.2.4    Tata Sons Private Limited              15.2.4.1    Company Overview             15.2.4.2    Product Portfolio             15.2.4.3    Demographic Reach and Achievements             15.2.4.4    Certifications         15.2.5    Vijay Sales (INDIA) Private Limited               15.2.5.1    Company Overview             15.2.5.2    Product Portfolio             15.2.5.3    Demographic Reach and Achievements             15.2.5.4    Certifications         15.2.6    V-Mart Retail Ltd.              15.2.6.1    Company Overview             15.2.6.2    Product Portfolio             15.2.6.3    Demographic Reach and Achievements             15.2.6.4    Certifications         15.2.7    K Raheja Corp. (Shoppers Stop Ltd.)             15.2.7.1    Company Overview             15.2.7.2    Product Portfolio             15.2.7.3    Demographic Reach and Achievements             15.2.7.4    Certifications         15.2.8    Landmark Group              15.2.8.1    Company Overview             15.2.8.2    Product Portfolio             15.2.8.3    Demographic Reach and Achievements             15.2.8.4    Certifications         15.2.9    V2Retail Ltd.              15.2.9.1    Company Overview             15.2.9.2    Product Portfolio             15.2.9.3    Demographic Reach and Achievements             15.2.9.4    Certifications         15.2.10    RP Sanjiv Goenka Group (Spencer’s Retail Limited)              15.2.10.1    Company Overview             15.2.10.2    Product Portfolio             15.2.10.3    Demographic Reach and Achievements             15.2.10.4    Certifications         15.2.11    Others 16    Key Trends and Developments in the Market

List of Key Figures and Tables

1.    Asia Pacific Retail Market: Key Industry Highlights, 2018 and 2032  2.    India Retail Market: Key Industry Highlights, 2018 and 2032  3.    India Retail Historical Market: Breakup by Product (USD Billion), 2018-2023  4.    India Retail Market Forecast: Breakup by Product (USD Billion), 2024-2032 5.    India Retail Historical Market: Breakup by Sector (USD Billion), 2018-2023  6.    India Retail Market Forecast: Breakup by Sector (USD Billion), 2024-2032 7.    India Retail Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023  8.    India Retail Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032 9.    India Retail Historical Market: Breakup by Region (USD Billion), 2018-2023  10.    India Retail Market Forecast: Breakup by Region (USD Billion), 2024-2032 11.    India Retail Market Structure

What was the India retail market value in 2023?

The market was valued at nearly USD 952.02 billion in 2023.

What is the growth rate of the India retail market?

The market is projected to grow at a CAGR of 11.4% between 2024 and 2032.

What is the India retail market forecast for 2024-2032?

The market is assessed to witness a healthy growth in the forecast period to reach around USD 2542.22 billion in 2032.

What are the different distribution channels in the market?

The different distribution channels in the market include hypermarket and supermarket, convenience stores, speciality stores, and e-commerce, among others.

Who are the major sectors of retail?

The major sectors in the market include organised and unorganised.

What are the different products considered in the market report?

The different products considered in the market report are food, beverage, and grocery, personal and household care, apparel, footwear, and accessories, furniture and home décor, industrial and automotive, electronic and household appliances, and pharmaceuticals, among others.

What are the major regions in the market, according to the EMR report?

The major regions in the market include North India, East and Central India, West India, and South India.

Who are the key players in the India retail industry?

The key market players are Reliance Industries Limited, Aditya Birla Group, Avenue Supermarts Limited (DMart), Tata Sons Private Limited, Vijay Sales (INDIA) Private Limited, V--Mart Retail Ltd., K Raheja Corp. (Shoppers Stop Ltd.), Landmark Group, V2Retail Ltd., and RP Sanjiv Goenka Group (Spencer’s Retail Limited), among others.

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  TheObservatory is a market research company founded in 2015. The small team offers market research. The firm is in Ahmedabad, India.

  User Connect Consultancy

  • Location "> Hyderabad, India

  User Connect Consultancy is a small market research company in Hyderabad, India. They offer market research, business consulting, and ux/ui design and were launched in 2017.

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  Levitation, an advertising company, was founded in 2019. The firm provides advertising, search engine optimization, web development, pay per click, and more and has a small team. The firm is based in Noida, India.

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  A&N Sales Services Pvt. Ltd., a sales outsourcing company, was established in 2022. They are based in नवी मुंबई, India and have a small team. Their services include sales outsourcing, market research, and business consulting.

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  Statzy Market Research, a market research company, is headquartered in Navi Mumbai, India. The small team offers market research and was founded in 2019.

  Uniquesdata

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  Founded in 2015, SPER Market Research Pvt. Ltd. is located in Noida, India. With about 50 employees, they provide market research, marketing strategy, and business consulting services for enterprise, midmarket, and small business. They focus on business services, health care, medical, and consumer products and services industries.

  Studio Pinak

  Founded in 2020, Pinak Studios is a market research company. They are in Hyderabad, India and have a small team. Their services include market research, ux/ui design, and product design.

  Pichkaari Design Studio

  Pichkaari Design Studio, a small UX company, is headquartered in Bengaluru, India. They focus on ux/ui design, digital strategy, branding, market research, and more and were founded in 2013.

  LiveHelpIndia

  LiveHelpIndia is a back office outsourcing company founded in 2006. They are headquartered in San Jose, California and have a midsize team. Their services include back office outsourcing, customer service outsourcing, and sales outsourcing.

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  Kaizen Market Research And Consultancy

  Not yet reviewed.

  StatByte Marketing Solutions

  StatByte Marketing Solutions is a marketing firm based in Navi Mumbai, India, and founded in 2019. Their team of over 10 offers voice services, back-office services, and market research solutions for various clients. They work with small and mid-market firms.

  • Gridlines LLP

  RenutechsolutionInc

  • Min. Project Size "> $50,000+
  • Location "> New Delhi, India

  QDegrees Services

  • Location "> Jaipur, India

  Based in Jaipur, India; Mumbai, India; Bengaluru, India and دبي, United Arab Emirates, QDegrees Services is a midsize business consulting company. Founded in 2013, the team offers business consulting, market research, non-voice bpo/back office services, and voice services.

  Aaditya International

  Aaditya International is a business agency based in New Delhi with more than two experts. Since their founding in 2000, they have offered business consulting, market research, and commercial financing solutions for various clients.

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  PruVisor Management Consulting Pvt. Ltd.

  • Location "> Gurugram, India

  PruVisor Management Consulting is a consulting firm based in Gurugram, India, and founded in 2017. With more than 10 members, they are experts in business consulting, market research, and marketing strategy solutions for clients in the field of business services.

  • Springer India
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  Searcheverythings is a website development firm founded in 2011. They are based in Jaipur, India and have a small team. The firm focuses on web development, mobile app development, search engine optimization, web design, and more.

  ORG Research Pvt. Ltd.

  • Location "> Delhi, India

  Founded in 2019, USP House is a commercial financing, funding, & investment company. The small Noida, India-based team focuses on commercial financing, funding, & investment, business consulting, market research, marketing strategy, and more.

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  Frequently Asked Questions (FAQ)

  What are stocks or shares.

  Stocks or shares are terms that are used to represent units of ownership in a company. When you purchase stocks or shares of a company, you become one of the owners of that company. For instance, if a company issues 100 shares and you purchase 50 shares, you're said to hold 50% ownership of that company.

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  Packaging Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

  The Packaging Industry in India is Segmented by Material Type (Plastic, Paper, Container Glass, Metal Cans, and Container) by End-User (Food and Beverage, Retail and E-Commerce, Paints and Chemicals, Industrial, Personal Care & Cosmetics, and Other End-Users). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

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  Study Period	2019 - 2029
  Base Year For Estimation	2023
  Market Size (2024)	USD 84.37 Billion
  Market Size (2029)	USD 142.56 Billion
  CAGR (2024 - 2029)	11.06 %
  Market Concentration	Medium

  Need a report that reflects how COVID-19 has impacted this market and its growth?

  Packaging in India Market Analysis

  The India Packaging Market size is estimated at USD 84.37 billion in 2024, and is expected to reach USD 142.56 billion by 2029, growing at a CAGR of 11.06% during the forecast period (2024-2029).

  • The demand for packaging in India has expanded drastically, spurred by the rapid growth in consumer markets, especially in processed food, personal care, and pharmaceutical end-user industries. Packaging is India's one of the fastest growing sectors. Over the last few years, the industry has been a key driver of technology and innovation, contributing to various manufacturing sectors, including agriculture and the fast-moving consumer goods (FMCG). The packaging industry is driven by the factors such as rising population, increasing income levels, and changing lifestyles are anticipated to drive consumption across various industries leading to higher demand for packaging product solutions. Moreover, demand from the rural sector for packaged products is fueled by the growing media penetration through the Internet and television.
  • The packaging industry in India is diverse and serves a diverse range of products and industries. Companies have established manufacturing facilities in the country and used these domestic facilities as a base to export to other nations due to the government's positive promotion of the Make in India policy. The government has implemented a plan to lower tax rates for new manufacturing businesses to transform India into a global manufacturing hub. In addition, the government intends to further level the playing field in the industry by launching several initiatives to support the growth of packaging and technological advancements, in addition to the need for domestic businesses to compete with multinational corporations.
  • The packaging industry is paramount and vital in the international goods trade. Packaging may be classified based on its type of use, which is primary packaging, secondary packaging, tertiary packaging, and ancillary packaging. It is also segregated based on the types of materials used, such as plastic, paper, paperboard, glass, and metals. Packaging is used across different end-user sectors in a wide range of industries, such as food and beverage, healthcare, and cosmetics, among other end-user industries. The study also analyzes the packaging machinery sector in the Indian packaging sector landscape.
  • The market is expected to be significantly challenged due to fluctuation in raw materials pricing, dynamic changes in regulatory standards, growing environmental concerns, limited effective recycling of mixed plastic waste, ineffective plastic recovery, and a lack of modern and advanced machinery in India for the packaging sector. The volatile trend in crude oil and demand for polymers in competing applications has increased pressure on input costs that fluctuate raw materials prices. Recent disruptions due to Russia's invasion of Ukraine and China's stringent Zero COVID-19 policy caused substantial supply chain difficulties and aggravated the challenges for the packaging sector in India.
  • After the pandemic, there has been a lot of demand for packaging designs that are easy to sell and have a strong sustainability story. This crucial trend has significantly contributed to the rapid transformation of the packaging industry. Prior, shoppers were price-sensitive, be that as it may, with the pandemic ruling its dread, the center has moved to health and hygiene. Product categories have changed significantly due to this emphasis on hygienic packaging. Customers are willing to spend more on a product if they believe it meets all packaging requirements.

  Packaging in India Market Trends

  Food industry is expected to hold the largest share in the market.

  • According to the India Brand Equity Foundation (IBEF) in India, the Food and Grocery market contributes almost 70% of the total retail sales. Departmental retail stores in the urban food market and unit packaging n in the rural food markets are key drivers of flexible packaging in the country. According to USDA Foreign Agricultural Service, the number of traditional retail grocery outlets across India in 2021 was 12.79 million and was expected to surpass 13.05 million by mid of 2023. The growing retail market is expected to boost the demand for flexible packaging in the food segment.
  • Furthermore, with the outbreak of COVID-19, the online ordering food segment witnessed significant growth in the country as the country was under lockdown, which resulted in a sudden boom in the online food sector and packed food products. The market size of packed food products drastically increased and is also expected to grow to USD 3.4 billion by 2027, as per the reports of MARC India. Major food delivery players across India, such as Swiggy and Zomato, expanded their base to tier two and tier three cities. Containers, such as bowls, trays, and containers, increased prominently.
  • In addition, the Department for Promotion of Industry and Internal Trade of the Government of India formed a private, nonprofit organization known as Open Network for Digital Commerce to create open networks for e-commerce. In April 2022, it was established. Any network-enabled app is expected to be able to identify and interact with local commerce across significant categories like supermarkets, food delivery, hotel booking, travel bookings, and more due to this open network.
  • The drive to go sustainable has pushed many folding carton manufacturers to launch new products in the market. The packaging solution providers also aim to launch innovative products for the dairy segment. In March 2022, SIG India launched a similar aluminum-free folding carton aseptic packaging to tap into the rising demand for carton-packaged milk products in the country.
  

  Paper Packaging to Have Significant Market Share

  • The paper packaging business witnessed growth over the last decade due to changes in substrate choice, new market expansion, 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 the market's growth in India.
  • Packaging product in paper packaging comprises folding cartons, corrugated boxes, paper bags, and liquid paperboard. With the considerable increase in organized retail, the demand for paper packaging is anticipated to increase due to the rapid increase in supermarkets and modern shopping centers. In June 2022, the Central Pollution Control Board (CPCB), a federal agency under the Ministry of the Environment, released a list of steps to outlaw specific single-use plastic products by June 2022. Such measures are anticipated to drive the demand for paper packaging in the country.
  • During the COVID-19 pandemic, the Indian e-commerce industry witnessed significant growth in the volume of online orders due to restrictions imposed on the movement of people and the shutdown of physical stores. People across the country increasingly bought online groceries, food items, and daily essentials while also purchasing merchandise online. Corrugated packaging materials significantly transported food, medicines, and medical equipment, which accelerated due to the rise in online deliveries.
  • High prices of key input material, kraft paper, led to increased rates of corrugated boxes in India. This is expected to hamper the market's growth in the forecast period. For instance, in February 2022, the Kerala Corrugated Box Manufacturers Association (KeCBMA) proposed increasing the prices of corrugated boxes due to the sharp increase in the cost of essential input materials used for the manufacturing of corrugated boxes such as duplex board and kraft paper. The association said that the cost of kraft paper, the essential raw material used for manufacturing corrugated boxes, increased by more than INR 5 i.e. more than 6 US Cent in the last two months. The emerging situation forced the association to increase the prices of corrugated boxes.
  • As sustainability grows, consumers are increasingly looking for 'green' products. For instance, Air India and the Indian Railways are replacing plastic packaging with eco-friendly paper and planning to use wooden cutlery to take a step toward sustainability. Many brands are basing their packaging choices on the environmental implications that accompany them by shifting away from single-use packaging and toward using compostable, recyclable, and reusable materials.
  • For instance, Godrej Consumer Product Ltd. committed to a sustainability target until 2025 to adopt a circular economy and ensure efficient use of resources. This initiative includes 100% use of recyclable, reusable, or compostable packaging and 10% use of post-consumer recycled content in plastic packaging. Adopting an optimized packaging infrastructure can enhance brand appeal and increase the demand for sustainable packing solutions.
  

  Packaging in India Industry Overview

  India's packaging industry is moderately fragmented due to the several players competing to improve their market share. With the rising demand for packaging applications and technological advancement across the Indian economy, many companies are increasing their market presence by expanding their business footprint across various end-user markets.

  In February 2023, under the slogan "YiPPee! - A Better World," ITC Limited's YiPPee! announced the introduction of "Terra By YiPPee!" a new waste upcycling initiative scheme. The "Terra By YiPPee!" business uses recyclable wrappers and reuses a variety of recycled YiPPee! wrapper to make eco-friendly lifestyle items, including laptop sleeves, totes, and stationery pouches.

  In September 2022, Cosmo First Limited (previously Cosmo Films Limited) commenced the production of specialized BOPET (Biaxially - Oriented Polyethylene Terephthalate) Films) in Aurangabad, Maharashtra. The business previously announced setting up a new production line producing specialized BOPET (biaxially oriented polyethylene terephthalate) films with a capacity of 30,000 MT annually for installation in Aurangabad.

  Packaging in India Market Leaders

  ITC Limited

  Jindal Poly Films Limited

  Berry Global Inc.

  Uflex Limited

  Ball India (Ball Corporation)

  *Disclaimer: Major Players sorted in no particular order

  

  Packaging in India Market News

  • February 2023: Cosmetics and hair care brand Revlon developed a new package for its 'Top Speed' hair color range exclusively for the Indian market. The brand unveiled a new visual identity for products across India in the coming years.
  • May 2022: Huhtamaki set up its first recycling plant in Maharashtra, India, as part of its CloseTheLoopinitiative. The site is spread across 2,000 square meters and has recyclers around 1,600 kg of post-consumer-used flexible plastic waste daily since it became fully operational. The recycling plant was set up with an investment of USD 1.18 million as part of the Huhtamaki Foundation's CloseTheLoopinitiative to tackle post-consumer waste and deliver a valuable secondary resource material. It was expected to process post-consumer waste to create resin to produce refined compounds for use in household products for consumers in India.

  Packaging in India Market Report - Table of Contents

  1. INTRODUCTION

  1.1 Study Assumptions and Market Definition

  1.2 Scope of the Study

  2. RESEARCH METHODOLOGY

  3. EXECUTIVE SUMMARY

  4. PACKAGING INDUSTRY OVERVIEW IN INDIA

  4.1 Market Overview

  4.2 Composition of Packaging Sector in India - Analysis of Establishments

  4.3 End-user Analysis

  4.4 Analysis of the Share of Imports in the Packaging Sector (Historical and Current)

  4.5 Market Ecosystem Analysis

  5. SECTORAL PERFORMANCE AND MARKET ENTRY PARAMETERS

  5.1 Analysis of Key Economic Indicators and Trade Flows w.r.t. Packaging Industry in India

  5.2 Analysis of the Key Foreign Investments in the Packaging Sector in India

  5.3 Trade Scenario Analysis - Coverage of the Key Packaging Products Based on the Relevant hs Codes

  5.4 Routes to Entry into the Indian Packaging Sector

  5.5 Overall Profitability of the Packaging Sector in India

  5.6 Assessment of COVID-19 Impact on the Paper Packaging Market

  5.7 Key Strategic Imperatives for Prospective Entrants into India

  6. MARKET DYNAMICS

  6.1 Market Drivers

  6.1.1 Rise of the Organized Retail and E-commerce Sector

  6.1.2 Increasing Demand for Sustainable and Recyclable Packaging

  6.2 Market Challenges

  6.2.1 Shortage and Rising Cost of Raw Material

  6.2.2 Non-availability of Skilled Manpower

  6.3 Focus Toward Development of Intelligent Packaging

  6.4 Assessment of the Impact of COVID-19 on the Packaging Industry in India

  7. KEY THEMES IN THE PACKAGING INDUSTRY IN INDIA

  7.1 Role of E-commerce in Driving the Packaging Sector

  7.2 Major Pharmaceutical Packaging Vendors Foraying into India

  7.3 Role of Sustainability in the Food and Beverage Packaging Market

  7.4 Emergence of Closed-loop Solutions in the Retail Sector

  8. MARKET SEGMENTATION

  8.1 By Material Type

  8.1.1 Plastic

  8.1.1.1 Plastic Type - Summary

  8.1.1.1.1 Rigid Plastic Packaging

  8.1.1.1.2 Flexible Plastic Packaging

  8.1.1.2 End-user

  8.1.1.2.1 Food

  8.1.1.2.2 Beverage

  8.1.1.2.3 Cosmetics and Personal Care

  8.1.1.2.4 Industrial

  8.1.1.2.5 Pharmaceutical and Healthcare

  8.1.1.2.6 Other End-users

  8.1.2 Paper

  8.1.2.1 Paper Type - Summary

  8.1.2.1.1 Folding Carton

  8.1.2.1.2 Corrugated Boxes

  8.1.2.1.3 Paper Bags and Liquid Paperboard

  8.1.2.2 End-user

  8.1.2.2.1 Food and Beverage

  8.1.2.2.2 Retail and E-commerce

  8.1.2.2.3 Industrial

  8.1.2.2.4 Personal Care & Cosmetics

  8.1.2.2.5 Other End-users

  8.1.3 Container Glass

  8.1.3.1 Container Glass - Summary

  8.1.3.2 End-user

  8.1.3.2.1 Food

  8.1.3.2.2 Beverage

  8.1.3.2.2.1 Alcoholic

  8.1.3.2.2.2 Non-alcoholic

  8.1.3.2.3 Personal Care and Cosmetics

  8.1.3.2.4 Healthcare

  8.1.4 Metal Cans and Containers

  8.1.4.1 Metal Cans and Containers - Summary

  8.1.4.2 End-user

  8.1.4.2.1 Food

  8.1.4.2.2 Beverage

  8.1.4.2.3 Paints and Chemicals

  8.1.4.2.4 Industrial

  8.1.4.2.5 Other End-users

  9. SUMMARY OF PACKAGING MACHINERY SECTOR IN INDIA

  9.1 Current Market Scenario

  9.2 Analysis of the Share of Imports (Based on hs Codes) and Key Import Regulations and Parameters

  9.3 Addressable Market for Packaging Machinery in India

  9.4 End-user Trends and Insights

  9.5 Coverage on the Few Packaging Machine Vendors in the Country

  9.5.1 Gempac (Sam Packaging Innovations Pvt. Ltd)

  9.5.2 IPK Packaging (India) Private Limited

  9.5.3 Nichrome Packaging Solutions

  9.5.4 Pakona Engineers (India) Private Limited

  9.5.5 Pack Leader Machinery Inc.

  9.5.6 Shruti Flexipack Pvt. Ltd.

  10. COMPETITIVE LANDSCAPE

  10.1 Company Profiles - Analysis of Top Five Glass Container Packaging Manufacturers in India

  10.1.1 Schott Poonawalla Private Limited

  10.1.2 Gerresheimer AG

  10.1.3 Agi Glaspac (HSIL Limited)

  10.1.4 PGP Glass Private Limited (Piramal Glass)

  10.1.5 Hindustan National Glass & Industries Limited (HNGIL)

  10.2 Company Profiles - Analysis of Top Five Folding Carton Packaging Manufacturers in India

  10.2.1 ITC Limited

  10.2.2 JK Paper Ltd

  10.2.3 Emami Paper Mills Limited (Emami Group)

  10.2.4 Canpac SA

  10.2.5 Velpack Pvt. Ltd.

  10.3 Company Profiles - Analysis of Top Five Corrugated Box Manufacturers in India

  10.3.1 Westrock India

  10.3.2 OJI India Packaging Pvt. Ltd.

  10.3.3 KCL Limited

  10.3.4 Trident Paper Box Industries

  10.3.5 Packman Packaging Private Limited

  10.4 Company Profiles - Analysis of Top Five Rigid Packaging Manufacturers in India

  10.4.1 Hitech Plast (Hitech Group)

  10.4.2 Schoeller Allibert

  10.4.3 Berry Global Inc.

  10.4.4 Aptar Group Inc.

  10.4.5 Manjushree Technopack Ltd.

  10.5 Company Profiles - Analysis of Top Five Flexible Plastic Packaging Manufacturers

  10.5.1 Jindal Poly Films Limited

  10.5.2 TCPL Packaging Limited

  10.5.3 Uflex Limited

  10.5.4 Polyplex Corporation Limited

  10.5.5 Cosmo Films Ltd. (Cosmo First Limited)

  10.6 Company Profiles - Analysis of Top Five Metal can Manufacturers in India

  10.6.1 Hindustan Tin Works Ltd.

  10.6.2 Ball India (Ball Corporation)

  10.6.3 AI Packaging Limited

  10.6.4 Zenith Tins Pvt. Ltd.

  10.6.5 Kaira can Company Limited

  10.7 Company Profiles - Analysis of Paper Bags and Liquid Board Vendors

  10.7.1 Asepto (Uflex Limited)

  10.7.2 Tetra-pak India Private Limited

  10.7.3 Megaplast India Pvt. Ltd.

  10.7.4 Bag Master

  10.7.5 The Bag Smiths

  11. CURRENT RECYCLING TRENDS IN INDIA

  12. MARKET OUTLOOK

  Packaging in India Industry Segmentation

  Packaging is defined as the process of providing a protective and informative covering to the product such that it protects the product during material handling, storage, and movement and also provides useful information to all the related supply chain partners about the content of the package. Its application can extend from primary, secondary, and tertiary to ancillary packaging.

  The India Packaging Market is segmented by material (Plastic, Paper, Container glass, Metal Can and Container), by End-user (Food and Beverage, Retail and E-commerce, Paints and Chemicals, Industrial, Personal Care & Cosmetics, and Other End-users). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

  By Material Type
  		Plastic Plastic Type - Summary Rigid Plastic Packaging Flexible Plastic Packaging End-user Food Beverage Cosmetics and Personal Care Industrial Pharmaceutical and Healthcare Other End-users Paper Paper Type - Summary Folding Carton Corrugated Boxes Paper Bags and Liquid Paperboard End-user Food and Beverage Retail and E-commerce Industrial Personal Care & Cosmetics Other End-users Container Glass Container Glass - Summary End-user Food Beverage Alcoholic Non-alcoholic Metal Cans and Containers Metal Cans and Containers - Summary End-user Food Beverage Paints and Chemicals Industrial Other End-users Packaging in India Market Research FAQs How big is the india packaging market. The India Packaging Market size is expected to reach USD 84.37 billion in 2024 and grow at a CAGR of 11.06% to reach USD 142.56 billion by 2029. What is the current India Packaging Market size? In 2024, the India Packaging Market size is expected to reach USD 84.37 billion. Who are the key players in India Packaging Market? ITC Limited, Jindal Poly Films Limited, Berry Global Inc., Uflex Limited and Ball India (Ball Corporation) are the major companies operating in the India Packaging Market. What years does this India Packaging Market cover, and what was the market size in 2023? In 2023, the India Packaging Market size was estimated at USD 75.04 billion. The report covers the India Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. What are the key challenges faced by the Packaging Industry in India? The key challenges faced by the Packaging Industry in India: a) Fluctuations in raw material prices b) Regulatory compliance regarding food safety and packaging standards, and c) Managing waste generated from packaging Our Best Selling Reports AI Governance Market Air Compressor Market Conductive Polymer Market Duchenne Muscular Dystrophy Treatment Market Global Orthopedic Digit Implants Market Home Infusion Therapy Market Interactive Kiosk Market Optical Ceramics Market Radiology Information System Market Surgical Equipment Market India Packaging Industry Report The India Packaging Market is on a significant growth trajectory, propelled by the e-commerce boom, technological advancements, and changing consumer preferences. This market, embracing materials like plastics, paper, metal, and glass, serves diverse industries such as food processing, pharmaceuticals, and personal care. The e-commerce surge has spiked demand for both rigid and flexible packaging, steering the market towards sustainable solutions. Government initiatives promoting the 'Make in India' policy and technological progress have further fueled growth. The industry is also moving towards innovative packaging that enhances the customer experience, particularly in the food and beverage sector, which dominates the market. With a strong emphasis on sustainability, paper packaging is emerging as a preferred eco-friendly option. Supported by consumer trends, innovation, and government policies, the India Packaging Market is set for ongoing expansion, playing a crucial role in the nation's manufacturing and retail landscapes. For detailed market insights, including share, size, and growth forecasts, Mordor Intelligence™ offers a comprehensive analysis and free report PDF download. 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