India’s Paper Market Soars: 8.2% Growth in Packaging Segment

India's paper market is experiencing rapid growth, particularly in the packaging paper and paperboard segment, which is expected to grow at 8.2% in 2023-24. The Indian Paper Manufacturers Association (IPMA) report highlights that the demand is driven by factors such as increased e-commerce, higher quality packaging needs, and the ban on single-use plastics.

India has emerged as the fastest-growing paper market globally, with domestic consumption of packaging paper and paperboard projected to grow at 8.2% in the 2023-24 fiscal year, according to a recent report by the Indian Paper Manufacturers Association (IPMA).

The IPMA report reveals that the packaging paper and paperboard market in India stands at approximately 15 million tonnes, constituting nearly 65% of the country's total paper, paperboard, and newsprint market, which totals 23 million tonnes.

Growth in this sector is attributed to heightened demand for better quality packaging in FMCG products, textiles, and pharmaceuticals, alongside booming e-commerce and increasing healthcare expenditures. Additionally, the ban on single-use plastic has contributed significantly, as paper presents a sustainable and eco-friendly alternative.