India was the fifth largest print-packaging country in 2016

India is quickly rising in the ranks of the print packaging industry and has climbed from the eighth largest market in 2011 to fifth in 2016. This was the big take-away from the presentation by Thayer Long, president, NPES. “By 2020, India will become the fourth largest market, ahead of Germany, and at this rate, shortly after the 2020, India will surpass Japan, becoming the third largest market.”

05 Feb 2017 | By Priya Raju

Long kicked off the NPES Print Business Outlook Conference 2017 with his presentation on ‘Worldwide market for print 2.0 – global opportunities in packaging’, featuring market trends in India.

Long said, “Print packaging globally will continue to grow at an average annual rate of 5.2% in 2016-20, just below the 5.3% rate over 2011-2015, reaching USD 286 billion by 2020.

He added, “The highest growth in 2016-20 will come from countries in Asia-Pacific, owing to India, Indonesia and Vietnam. At the moment, Asia-Pacific is the largest regional market for print packaging, accounting for over 42% of revenues in this study, and will be the second fastest-growing region, expanding 6.7% in 2016-20.”

In the next five years, India will be in pole position out of the 10 fastest-growing print packaging markets in Asia-Pacific. As per the study, India’s revenue was USD 12.2bn in 2016. By 2020, revenues will reach USD 18.6 billion.

Long said the flexible print packaging market in India is much larger than the folding carton market. However, the folding carton segment in India is still sizable because of exports, particularly in luxury goods and cigarettes.

NPES worked on this survey along with Economist Intelligence Unit (EIU).