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Country\'s food packaging market to reach $18 billion by 2020

by:Taian Lamination Film     2020-10-06
\"At present, the domestic packaging industry ranked 11 in the world.
\"By 2020, the Food Packaging Market in India may reach $18 billion from the current $12 billion, the Indian Packaging Research Institute (IIP)
Director n c Saha said Monday.
\"By 2020, the size of the Indian food packaging market will increase from the current $12 billion to $18 billion.
The fruit and vegetable sector will lead the growth story, \"he said at a national conference on food packaging and its safety.
\"At present, the domestic packaging industry ranked 11 in the world.
Food packaging accounts for 55-60% of the entire packaging industry.
He added that, as a result, the growth rate is almost 50%.
Saha noted that more than 0. 8 billion people in the world are unable to meet their daily calorie needs and 2 billion are undernourished.
\"However, more than 1 out of 3 of the food we produce has never been eaten.
Nearly 31% of retail food supplies are not eaten.
Reducing food waste is the biggest challenge for food processors, retailers and consumers around the world.
The food packaging industry nearly doubled to 13.
\"For the past four years, 7% pounds,\" he added . \".
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