TEXTILE PACKAGING MARKET ANALYSIS

Market Challenges And Opportunities

Textile Packaging Market Outlook – Increasing Demand for Eco-friendly and Durable Materials to Sustain Market Growth

Increasing demand for biodegradable and reusable packages and containers is one of the major factors propelling the growth of textile packaging market. Also, stringent regulations on the use of plastic packaging materials have augmented the growth of the market. The Ministry of Environment and Forests, Government of India, passed the Plastic Waste Management Rules in 2016 which includes phasing out the manufacturing and use of non-recyclable multilayered plastic used for packaging and other purposes. Asia Pacific, followed by North America are the major contributors to the global textile packaging market. Rapid growth of textile industries in developing countries such as India and China is one of the factors boosting the growth of textile packaging industry in the region. According to the Working Group on Textiles and Jute Industry, Ministry of Textiles, Government of India, the Indian Packtech segment was anticipated to grow at a rate of 22% accounting to US$ 11,782 million by 2016-17.  Packtech segment includes flexible packaging materials made from textiles used for packing goods from agricultural, food and beverages, consumer and other industry. This trend is expected to be followed over the forecast period.