Custom shopping bags are examples of flexible packaging that encloses a product for storage, distribution, sale and use. Flexible packaging is made from non-rigid materials like plastic, aluminum or paper. These materials usually undergo a detailed process of conversion that includes printing, lamination, coating and extrusion so as to develop different types of packaging bags and sachets. Conversion technology has also produced packaging products in the form of foil bags, plastic bags and lidding films.
The flexible packaging industry in India is expected to grow at a CAGR of 24.21% over the period 2014 to 2019. The report on Flexible Packaging in India 2015-2019 was prepared based on an in-depth market analysis with valuable inputs from industry experts. The report covers the market landscape and growth prospects for the coming years including a discussion of the key vendors that are operating in the market.
Many packaging vendors are now switching to flexible packaging materials because of the increase in consumer demand for flexible packaging. The main reason for growing customer demand is reduced transportation when packaging is light in weight. Flexible packaging also occupies less space compared to rigid packaging materials. Flexible packaging products are generally re-sealable, recyclable and durable. There is also an increase in the demand for small-sized food and beverage products and single-serve packaging that is expected to further propel the market for flexible packaging materials.
Based on the report, the retail sector is one of the fastest growing sectors in India due to rising brand awareness, increase in the purchasing power of semi-urban and urban consumers and the growth of ecommerce. In India, the number of internet users has increased as well as the population of working women. The growing number of supermarkets and department stores has resulted into changes in the consumption patterns of consumers. This has provided the impetus for growth in the retail sector.
A major share of the retail market in India is held by food and grocery segments. Retail stores make use of flexible packaging materials for the protection of food and groceries so that their nutritional values can be preserved and to provide customers with packaged products that are safe and convenient to consume.