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Growing investments in the food processing sector
The flexible packaging market in India is poised to grow by US$9.76 billion during 2020-2024, progressing at a CAGR of almost 12% during the forecast period, according to a Technavio report on 21 Aug 2020.
Growing investments in the food processing sector in India is one of the major trends in the market, said the report.
The growing retail industry in India will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments, suggested the report.
However, the rise in prices of raw material restraints the market growth, the report pointed out.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. #packaging #manufacturing #makeinindia /fiinews.com
