Packaging is one of India’s fastest-growing industries, contributing to technological
advancements across various manufacturing sectors, including agriculture and
fast-moving consumer goods (FMCG). The India Packaging Market size is estimated at
USD 84.37 billion in 2024. It is expected to reach USD 142.56 billion by 2029, growing
at a CAGR of 11.06% during the forecast period (2024-2029) (India Packaging Market
Insights, n.d.-b). In 2019, India produced around 17 million tons of plastic, among them
approximately 59% was used in packaging, of which only 15% was effectively recycled
with the rest either incinerated or dumped in landfill (UNEP, 2021). The trend of plastic
consumption in packaging in India is higher compared to the global average, accounting
for approximately 59% of total consumption of 19.8 million tonnes in 2020. (Hossain et
al., 2023)