During 2023, India has become the Most populous country in the world, surpassing China, with an estimated population of 1,40 billion people. The demographic data alone, obviously combined with other factors, rightfully places India among the largest consumers of pharmaceutical products, beverages and packaged foods, which require significant quantities of glass for packaging.
There are more than that in the country 30 companies that produce glass for packaging. Such companies are favoring a rapid growth of the entire manufacturing sector in the region.
But what dynamics promoted the development of packaging?
First of all, the rapid spread of modern forms of retailing, combined with the increase in consumption of non-alcoholic drinks. But also the increase in the income of large sections of the population and the greater awareness of issues such as health and hygiene.
The main packaging glass manufacturers have worked to progressively improve their skills and expand their package of solutions for the sector. In the last decade, in India, the sector has been enriched by a dozen small and medium-sized businesses.
This result is, in part, thanks to growth in demand for alcoholic beverages, supported by greater social acceptance of the consumption of such products. The segment share is expected IMFL (Indian Made Foreign Liquor) can grow up to 67% in volume by 2027, despite state interventions aimed at contracting and containing the negative effects of widespread alcohol consumption.
The prospects of the sector
The Indian packaging industry is poised to benefit from the growing demands of the food and beverage, pharmaceutical and cosmetics. In particular, the forecasts for the food and beverage packaging market stand at $ 156,25 billion by 2026, compared to 33,2 billion in 2020, with a compound annual growth rate (CAGR) of 29,88%.
Among the protagonists of the packaging glass sector are:
- Hindusthan National Glass & Industries Ltd (HNG). With 13 kilns and an installed capacity of 4300 tons per day, the company caters to multiple sectors, exporting to over 23 countries.
- AGI Greenpac has invested extensively in glass production infrastructure for packaging, managing three cutting-edge manufacturing plants, as well as the decoration techniques adopted. The company now boasts printing 1,2 million bottles per day.
- PGP Glass Private Limited is a global flaconnage specialist for the pharmaceutical, cosmetics, perfumery, beverage and food specialty sectors.
Source: Glass Machinery Plants & Accessories
