Country's food packaging market is likely to reach $18 billion by 2020 from the present $12 billion, Indian Institute of Packaging (IIP) Director NC Saha said on Monday. “Size of India's food packaging market will increase from present $12 billion to reach $18 billion by 2020. Fruits and vegetables segments are going to lead this growth story,” he said 'Food Packaging and Its Safety Aspects' here.
“At present, the domestic packaging industry is ranked 11th in the world. Food packaging is 55 to 60 per cent of the total packaging industry. The growth therefore is almost by 50 per cent, he added. Saha noted that over 800 million people in the world are unable to meet their daily calorie needs and more than 2 billion people suffer from nutritional deficiencies.