Karnataka has a rapidly growing corrugated packaging industry and with a market size of approximately ₹50,000 crore annually and a growth rate of 10-12%, India’s corrugated box manufacturing sector is poised to continue its upward trajectory for the next 5 to 10 years, said industry players.
Corrugated cartons are made up of a few layers of material rather than just a single sheet like cardboard.
Defence Economist and Senior Fellow at the Institute of Peace and Conflict Studies, Abhijit Iyer-Mitra, who spoke at the 52nd Annual Meeting and Exhibition of the Federation of Corrugated Box Manufacturers (FCBM) held in Bengaluru highlighted the significant role of the sector in driving sustainability, efficiency, and innovation across various industries, including food and beverage, e-commerce, and more.
The event saw participation from leading industry experts, manufacturers, and policy makers, who discussed the key drivers and future trends shaping the industry. FCBM is the apex body of India’s corrugated packaging industry with a membership of over 2000 corrugated box manufacturers.
According to industry experts who spoke at the event, India has over 600 automated plants and another 7,000 semi-automatic plants in the corrugated box manufacturing space. The industry employs over half a million people and processes about 2 million tons of kraft paper annually into corrugated boxes.
Dharmendra V. Pandya, President of FCBM said, the corrugated box industry in the country was witnessing unparalleled growth, driven by strong demand in key sectors and the adoption of cutting-edge technologies.
The global corrugated packaging Industry is estimated to be at $300 billion and is growing at a CAGR of 4.3% fueled by expansion of e-commerce consumer preference for biodegradable packaging and innovations in lightweight materials. The Indian packaging industry is estimated to grow at 22 to 25% annually and the corrugated packaging Industry is expected to grow at 10-12%.
‘’As we look ahead, we anticipate significant shifts toward larger automatic plants and advanced machinery, which will not only enhance productivity but also meet the evolving needs of consumers and businesses alike,’‘ added Pandya.
Some of the key factors fuelling the growth of the industry include the increasing demand for packaging solutions in the food and beverage industry, the rapid rise of e-commerce, and favorable government initiatives aimed at boosting manufacturing capabilities and sustainability.
Published – December 21, 2024 10:18 pm IST