The Age of Flexible Pouches for Oil Packaging
Indian packaging industry on the whole is valued at US $13 billion. The industry is expected to grow at a 10 yr Compound Annual Growth Rate (CAGR) of over 16%. Of this Flexible packaging industry is growing at a steady 14% annually and currently accounts for 24% of the consumer packaging market. It is expected to be a $32 billion industry by 2020. This trend is expected to continue in future, driven by greater demand of economic growth and increased share of organized retail (malls and superstores); both key factors. Growth in per capita income, changing lifestyle patterns, growth of consumer society and health consciousness are other key indicators of the industry and its gradual growth.
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