Flexible packaging market may reach Rs 22,950cr by 2015: Assocham

New Delhi: The size of the Indian ‘flexible´ packaging market is expected to reach Rs 22,950 crore by 2015, with more domestic companies opting for eco-friendly packaging for their products, industry body Assocham on Sunday said.

The chamber said that consumers are also shifting toward sustainable and green packaging due to heightened environmental concerns.

The green packaging industry is growing at around 25% per year, faster than the overall packaging sector, which is growing at about 20% annually, it said.

“The flexible packaging market in India is currently worth about Rs 14,000 crore and is likely to reach Rs 22,950 crore by 2015,” it said.

Assocham said the majority of manufacturers are increasingly adopting renewable packaging technologies and using environment-friendly light materials.

“Rising environmental concerns about carbon emissions... increased health awareness and waste reduction targets are certain key growth drivers of green packaging innovation in India,” it said.