Packaging Materials

The packaging material industry is in the midst of a revolutionary shift because of sustainability requirements, e-commerce growth, and end-customer demand for glass, metal, paper, plastic, and eco-friendly packaging. Based on IBEF, India is still a leading global player in the paper market with 8.2% growth in domestic demand for packaging paper and paperboard during 2023-24.

Glass packaging continues to do well. Glass packaging and bottles market size stood at USD 75.3 billion in 2024 and is expected to grow with a CAGR of 4.4% during 2025-2034 based on increasing demand for lightweight and sustainable glass packaging. The glass packaging industry accounted for USD 55.5 billion in 2022 and is projected to register a growth of 4.5% CAGR from 2023 to 2032 due to the growing consumption of beer in emerging markets. Plastic packaging maintains a higher market value, but the highest among those is flexible plastic, attributed to versatility and price convenience.

Metal packaging market size stood at USD 153.3 billion in 2024 and was estimated to have a CAGR of 3.3% during 2025-2034. The paper and paperboard packaging market stood at USD 381.4 billion in 2024 and is expected to have a CAGR of 5.1% during 2025-2034, owing to a rise in demand from the food & beverage industry. Sustainable packaging continues to be the most rapidly growing category, with industries accelerating towards biodegradable materials, compostable alternatives, and circular economies, from new potatoes to peppers, accelerating innovation in every category of materials.