New Delhi: Packaging is among the high growth industries in India which is developing at a good pace and becoming a preferred hub by the people who are now taking a keen interest in this key industry. According to the report, it is expected to grow from $32 billion in FY 2015 to $73 billion in 2020. Besides, the industry is forecasted to grow at 18% annually.

The packaging industry has reported a steady growth over the past several years and has shown high potential for much expansion, particularly in the food processing, manufacturing industry, FMCG, healthcare sector, and export.

Increasing organized retail and the boom in E-Commerce are also major growth drivers for the Indian Packaging Industry. Its exponential growth has resulted in thousands of packets being delivered every day across the country and this demands quality packaging of the products. Changing consumer lifestyles towards ready-to-eat products are driving the growth of flexible Packaging, with the food itself accounting for 38% of the flexible packaging market.

In order to showcase latest innovations and technologies for processing and packaging industries, UBM India is all set to host the first edition of the ProPak India expo, catering to India’s ever-growing processing and packaging industries.

Speaking on the announcement of the launch of ProPak India 2018, UBM India Managing Director Mr Yogesh Mudras said, “Packaging serves the Indian economy by preserving quality and lengthening the shelf life of innumerable products - from food, to drugs and medicines, to processed and semi-processed foods, fruits and vegetables, edible oils etc, besides several other appliances and industrial machinery. Despite an impressive growth rate of 15-18% annually, India’s per capita packaging consumption is extremely low at less than 4.3 kg, compared to countries such as Germany and Taiwan where it is 42 kg and 19 kg respectively, revealing the immense scope and potential in this domain.”

He added, “UBM India with the ProPak property aims to bring in a revolution in this niche but growing Indian industry by providing successful meetings, knowledge exchanges, networking and business opportunities for participants from the Food, Drink and Pharmaceutical industries. We look forward to the industry being an enthusiastic part of the first-ever show.”