Product Code: ETC359784 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India transit packaging market's import shipment depicted a robust growth trend with a high CAGR from 2020-2024. The growth rate accelerated noticeably between 2023 and 2024, indicating strong momentum. Overall, the market significantly expanded during this period, showcasing a positive and dynamic trend.
The India transit packaging market was estimated to be worth INR 10,742 crores and is expected to reach INR 14,603 crores. The CAGR of the market during this period is estimated at 8.6%. The major factors driving the market are an increase in transportation activities, rising demand from e-commerce companies, changing consumer lifestyles leading to increased product movement as well as increased government regulations for safety and security of goods.
The India transit packaging market is experiencing rapid expansion, fueled by various key drivers. One of the primary drivers is the growth of e-commerce and the logistics industry. As the e-commerce sector continues to flourish, the need for efficient and secure transit packaging solutions has surged. Transit packaging ensures the safe and intact transportation of goods from manufacturers to end consumers, minimizing the risk of damage during transit. The increasing penetration of e-commerce in tier-2 and tier-3 cities has further driven the demand for transit packaging solutions. Moreover, the growth of industries such as automotive, electronics, pharmaceuticals, and FMCG has also contributed to the market`s expansion, as these sectors heavily rely on transit packaging for shipping their products to various locations. The preference for sustainable and reusable transit packaging materials has also driven innovations in the market, with companies adopting eco-friendly alternatives to meet consumer demands and comply with environmental regulations. Additionally, the development of specialized packaging solutions, such as temperature-controlled packaging for perishable goods, has further boosted the transit packaging market`s growth.
The India transit packaging market faces challenges related to the rising demand for cost-effective and lightweight packaging solutions. As the e-commerce and logistics industries grow, there is a need for packaging materials that can offer protection while minimizing transportation costs. The market also faces challenges concerning the disposal and recycling of transit packaging materials, considering the increasing focus on sustainability and waste management. Additionally, the market needs to address the requirement for specialized packaging solutions for various products, including fragile and perishable goods, to ensure safe transportation and delivery.
The India transit packaging market faced challenges during the COVID-19 pandemic due to disruptions in supply chains and logistics. With the restrictions on movement and closure of non-essential businesses, the demand for transit packaging solutions declined during the lockdown period. The economic slowdown and changes in consumer behavior also influenced the consumption of transit packaging in various industries. However, with the gradual easing of restrictions and the resumption of economic activities, the market started to recover. The growth of e-commerce and the logistics industry provided opportunities for transit packaging solutions to rebound.
The India transit packaging market is driven by key players that provide essential packaging solutions for safe and secure transportation of goods. Companies like Uflex Limited, Sealed Air India Pvt. Ltd., and International Paper APPM Limited are major players in this sector. These key players offer a wide range of transit packaging products, including corrugated boxes, stretch films, air cushions, and protective wraps. They serve various industries, including e-commerce, electronics, FMCG, and pharmaceuticals. These companies often invest in research and development to introduce eco-friendly and sustainable transit packaging materials, in line with the growing environmental consciousness. Their widespread distribution networks and strategic partnerships with logistics companies ensure seamless availability of transit packaging solutions across India.