India Green Packaging Market to Expand at an Impressive CAGR of 27.5% during 2023–2029

Published | 01 January 2023

India green packaging market is flourishing because of increasing consumer awareness about sustainable packaging, growing shift in consumer preferences towards recyclable and eco-friendly packaging solutions, and a surging demand for innovative packaging solutions.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India green packaging market size to grow at an impressive CAGR of 27.5% during the forecast period between 2023 and 2029. Major factors for the expansion of India green packaging market include increasing consumer awareness regarding sustainable packaging, growing shift in consumer preferences towards recyclable and eco-friendly packaging solutions, and surging demand for innovative packaging solutions. Rising consumer awareness of environmental conservation, due to which Government of India (GoI) has made number of efforts to support the use of environmentally friendly packaging materials. The extensive adoption of green packaging solutions in many end-use industries, particularly in the food and beverages (F&B) industry, is supporting the green packaging market growth in India. Rapid urbanization and expanding economic growth in India have resulted in the adoption of innovative packaging technologies, which are favorably impacting the country's green packaging market. However, inadequate supply of bioplastics and other bio-based materials is anticipated to hinder the growth of India green packaging market.

India Green Packaging Market – Overview

Green packaging is a form of sustainable packaging that makes use of biodegradable materials and energy-efficient manufacturing methods. Plant-based polymers, recycled paper, Styrofoam, and re-used polyethylene (PE) bags are some of the most frequent materials utilized in the production of green packaging. It uses alternative, clean-energy sources, such as wind, solar, and biofuel for transportation, resulting in a decreased environmental effect. Green packaging, as opposed to typical synthetic packaging, reduces the development of packaging trash, minimizing the overall carbon footprint.

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India Green Packaging Market – By Packaging Type

By packaging type, India green packaging market is segmented into Recycled Content Packaging, Reusable Packaging, and Degradable Packaging categories. The recycled content packaging segment holds the highest market share during the period in analysis. The most prevalent sustainable packaging solutions used by firms are shrinking or lightening packaging and employing recycled and renewable materials. As a result, numerous businesses are utilizing paper and cardboard in a variety of capacities. It ensures that the packaging is recyclable for future use, which is environmentally good. Customers are becoming more acclimatized to paper-based flexible packaging, as they seek more environmentally friendly packaging solutions. The reusable packaging segment holds the second highest market share. Drums, plastic containers, intermediate bulk containers, and other reusable packaging methods are commonly utilized. Drums are the most versatile and adaptable green packaging solutions, allowing various large scale end-user industries, such as chemicals, food and beverages, and construction, to carry out everyday operations with a low carbon footprint or waste output.

Impact of COVID-19 on India Green Packaging Market  

COVID-19 had a detrimental impact on green packaging market. The government implemented a nationwide lockdown, causing numerous industries to shut down. As a result, the need for green packaging materials for product packaging significantly dropped. This issue slowed the rise of the green packaging market share in the pandemic year. However, the green packaging market expanded during the COVID-19 pandemic, due to people's spending patterns evolved toward online purchases. Paper-based packaging is commonly used in e-commerce for product delivery. It is projected to boost the market growth during the post-pandemic period.

Competitive Landscape

Major players operating in India green packaging market include Annapurna Cottage Industries, Varsha Fibre-Fab Industries, greenBUG, Adyah Eco Products​, EarthSafe, Shiwa Industrial, SpruceGel, Amate Products, OG Hemp Private Limited, and Ecoware. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics India Green Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Green Packaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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