India fresh food packaging market is expected to grow at a CAGR of 7.70% over the forecast period. The fresh food packaging market is growing in India due to an increase in demand for dairy products. India has a major share in the global milk supply and dairy product and going to retain its position throughout the projected period. According to the Department of Animal Husbandry, Dairy and Fisheries the milk production in 2013-14 was 137.7 Million MT and in 2017-18 was 176.3 million MT. The growing production of milk is a reason for the growing demand for fresh food packaging due to the rising need for transportation and export of milk & dairy products safe and in protective packaging to stopping from spoilage in transit. The growing domestic consumption and exports of dairy products, combined with stringent regulations across the globe regarding compliance with packaging standards is further driving the demand for packaging solutions. The market for fresh food packaging is also growing due to the increasing consumption and the production of fish in the country. According to the data provided by the Department of Animal Husbandry, Dairy and Fisheries the fish production in India is growing at a CAGR of 7.32% between 2014 and 2018. It increased from 9.5 million MT to 12.6 million MT over the 2014-2018 periods. Thereby with an increase in consumption and production of fish has increased the demand for fresh food packaging. The rapid growth of the tourism sector in India due to rich heritage sites and growing investments by the government for restoring them is increasing the demand for global restaurants in the region to cater to the diverse needs of tourists. This is increasing the demand for fresh food packaging in the country.
The fresh food packaging market is facing restraints in India due to strict government rules and regulations regarding the use of packaging materials like the ban on the use of plastic for being non-biodegradable and causing harm to the environment. The rising prices of raw material will further increase the cost for manufacturers, resulting in slowing the market growth.
The India Fresh Food Packaging market has been segmented based on the material and application. By material, the market has been segmented as plastic, paper and board, glass, and metal. By application, the Indian fresh food packaging market has been classified into poultry and meat products, dairy products, produce (vegetables and fruits), seafood, and others. By material, paper and board hold a significant market share due to the strict government regulations over the use of plastic and increase in usage of eco-friendly packaging materials. By application, seafood and dairy products accounted for a significant market share in 2019.
Prominent key market players in the India fresh food packaging market include Amcor PLC, Mondi, Sonoco Products Company, AS Food Packaging Greendale, and India Packaging Products Pvt. Ltd. (IPP). These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the India fresh food packaging market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Sonoco Products Company
AS Food Packaging Greendale
India Packaging Products Pvt. Ltd. (IPP)
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