India CPP Packaging Market Report, Share, Trends & Forecast
According to the UnivDatos Market Insights analysis, growing demand for flexible packaging with increased efficiency will drive the growth scenario of CPP Packaging and as per their “India CPP Packaging Market” report, the Indian market was growing at a CAGR of 6.15% during the forecast period from 2024 – 2032.
Cast Polypropylene Packaging (CPP) is a well-known and versatile packaging material. The segment has gained extensive popularity because it is more appealing than propylene due to its clearer appearance and better heat resistance. CPP also hold multiple qualities that has paved its way to the rapidly increased adoption among the packaging manufacturers such as being fit to be customized as per the packaging type, greater tear and impact resistance, completely recyclable properties, etc.
Rising Trend of CPP Packaging from the Food & Beverages Industry:
The Food & Beverages industry has exhibited rapid growth in the recent year. Some of the factors that have contributed to the growth of the food & beverages industry are rising disposable income, rapid urbanization, expanding urban retail infrastructure, and the hospitality and tourism sector. The packaged convenience food industry in India was INR 3,194 Bn in 2020, which is further anticipated to grow to INR 4,883 Bn by 2026. Of all the categories, snacks, Indian sweets, non-alcoholic beverages, and biscuits have grabbed the major market share. These segments are anticipated to hold the dominant share in the coming period as well. Some of the leading companies in the Indian packaged convenience food industry were Nestle, Britannia, Parle, ITC, Hindustan Unilever, Tata Consumer Products, Mondelez India, etc.
Considering the rising domestic demand for food & beverages as well as the enhanced export focus of the food & beverages companies, the demand for the packaging in the respective segment will further grow in the coming years, i.e., 2024-2032.
Rising Demand for CPP Packaging from the Automotive Sector:
The demand for CPP packaging is further supported by the rise of the automotive sector in India. CPP Packaging is used for manufacturing the internal parts of a vehicle such as a door panel, instrument panel, and trim parts. The CPP film offers a smooth and abrasion-resistant surface to the internal panels, enhancing both the aesthetic appeal and robustness of the components.
Recently, the usage of CPP packaging for exterior protection of vehicles has increased extensively. With the applications of withstanding UV, weather changes, rain, dust, and temperature shifts, the film has been used by customers to provide an additional layer of safety to the vehicle.
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According to the Society of India Automotive Manufacturers (SIAM) the total sales of automotive the total sales of automobiles in India reached 2,38,53,463 in 2023 from 1,76,17,606 in 2021. This is around a 35% increase, which is further anticipated to rise in the coming years.
The Electric Vehicle category has also enhanced the need for CPP packaging as the CPP films are used for battery pack insulation and protection. As films provide protection from electrical charge and temperature changes, the increasing sales of electric vehicles is further anticipated to assist the market growth of the CPP Packaging market.
These updates, along with technological updates, would be further conducive to the adoption of CPP Packaging in the coming period, i.e., 2024-2032.
Conclusion:
The India CPP Packaging market is experiencing a transformative phase driven by technological advancements, sustainability packaging operations, digitalization, market dynamics, and implementation of government policies. Stakeholders across the industry are embracing these trends to enhance operational efficiency, flexible packaging, sustainable packaging alternatives, etc. As robust protection needs in veneering continue to play a strategic role in improving packaging solutions, staying abreast of these trends and embracing innovation will be crucial for the India CPP Packaging market.
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