India Packaging Coating Market Size, Share, Growth Analysis, By Type(Solvent-based Coatings and Water-based Coatings), By Material(Plastics and Paper) - Industry Forecast 2024-2031

India Packaging Coating Market size was valued at USD 1.9 billion in 2021 and is poised to grow from USD 2.6 billion in 2022 to USD 3.98 billion by 2030, growing at a CAGR of 6.2% during the forecast period (2023-2030).

The India packaging coating market is fiercely competitive, with the participation of both regional and players. The market is marked by the presence of numerous small and large companies providing a diverse range of products. To gain an edge over their rivals, firms are concentrating on creating pioneering and environmentally-friendly solutions, enhancing their distribution channels, and broadening their market coverage. As the demand for sustainable packaging solutions rises, the competition among market participants is projected to increase, with companies endeavouring to cater to evolving customer requirements and preferences. 'Akzo Nobel India Limited', 'Asian Paints Limited', 'Berger Paints India Limited', 'Cosmo Films Limited', 'Dhanuka Agritech Limited', 'Fujifilm India Private Limited', 'Garware Polyester Limited', 'Gujarat Fluorochemicals Limited', 'Jenson & Nicholson (India) Limited', 'Kansai Nerolac Paints Limited', 'Manjushree Technopack Limited', 'Meghmani Organics Limited', 'Pidilite Industries Limited', 'Polyplex Corporation Limited', 'Raj Petro Specialities Pvt. Ltd.', 'Shalimar Paints Limited', 'SK Polymers', 'Sunanda Speciality Coatings Pvt. Ltd.', 'Uflex Limited', 'Valspar India Coatings Corporation Private Limited'

The growing demand for packaged food and beverages is a significant driver of the packaging coating market. With the increasing popularity of ready-to-eat and convenient food products, the food and beverage industry is experiencing rapid growth, leading to a rise in demand for packaging coatings. These coatings play a vital role in safeguarding and improving the appearance of various packaging materials, thereby ensuring the quality and safety of the packaged products. Additionally, the surging trend of e-commerce and online food delivery services is also expected to boost the demand for packaging coatings to protect products during transportation and delivery.

North India is the dominant region due to the presence of key market players and the growing demand for packaged food and beverages in states such as Delhi, Haryana, and Punjab. The region accounted for the largest share of the India packaging coating market in 2023, with a market share of over 35%.