LONDON–(BUSINESS WIRE)–Technavio has been monitoring the flexible packaging market in India and it is poised to grow by USD 9.76 billion during 2020-2024, progressing at a CAGR of almost 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis.
Frequently Asked Questions-
- Based on segmentation by end-user, which is the leading segment in the market?
- The food and beverage industry is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Growing investments in food processing sector in India is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 12%, the incremental growth of the market is anticipated to be USD 9.76 billion.
- Who are the top players in the market?
- Amcor Plc, Balmer Lawrie & Co. Ltd., Constantia Flexibles Group GmbH, Cosmo Films Ltd., Garware Polyester Ltd., Huhtamaki Oyj, Jindal Poly Films Ltd., Polyplex Corp. Ltd., Tetra Pak International SA, and UFlex Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Growing retail industry in India is one of the major factors driving the market. However, the rise in prices of raw material restraints the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Amcor Plc, Balmer Lawrie & Co. Ltd., Constantia Flexibles Group GmbH, Cosmo Films Ltd., Garware Polyester Ltd., Huhtamaki Oyj, Jindal Poly Films Ltd., Polyplex Corp. Ltd., Tetra Pak International SA, and UFlex Ltd. are some of the major market participants. The growing retail industry in India will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.