The global packaging industry is among the most vital and fast-changing industries in today's trade, experiencing consistent growth fueled by online commerce growth, expanding demand for consumer goods, and sustainability efforts transforming packaging solutions in various industries. IBEF's Paper & Packaging Industry Report 2025 emphasizes that packaging is India's fifth-largest industry in its economy and a significant factor behind industrial growth and innovation. Expanding at 22-25% per annum, the industry has grown to become a top packaging solutions hub fueled by infrastructure and technological developments. This wide market covers key subcategories like advanced packaging, consumer packaging, industrial packaging, packaging equipment, and packaging materials, all targeting specific needs in food and beverage, pharmaceutical, electronics, cosmetics, and industrial industries globally.

The advanced packaging segment represents impressive technological innovation, where the advanced packaging market was valued at USD 38.5 billion in 2024 and is expected to grow at an extraordinarily high CAGR of 11.5% through 2034, with increased complexities of automobile electronics. In addition, there continues to be obvious growth within packaging materials, as shown with the packaging materials market, which surpassed USD 1.33 trillion in 2023 and is projected to grow at a 4.9% CAGR from 2024-2032, with increased emphasis on food safety. In addition, there are other segments to support growth, such as sheets of expanded polystyrene, which have high growth rates because they are lightweight and absorb impacts for protective packaging usage.

Major drivers of the market are the growth in packaged consumer electronics, rising focus on food safety and product security, and enhanced adoption of sustainable packaging solutions. The industry also benefits from technology advances in the form of smart sensors, enabling RFID and IoT, all of which continue to improve traceability and consumer involvement. Issues of sustainability, compliance, and the fundamentals of the circular economy are still pushing innovation in packaging design, material science, and production process innovation across all packaging subcategories.