The Federation of Corrugated Box Manufacturers (FCBM) of India has projected that the corrugated packaging industry is set to experience an annual growth rate of 10-12% over the next decade. This optimistic outlook is attributed to several key factors:
- E-commerce Expansion: The rapid growth of online retail has significantly increased the demand for corrugated packaging, as businesses require reliable and sustainable materials for shipping products to consumers.
- Sustainability Trends: With a global shift towards eco-friendly practices, corrugated packaging, known for its recyclability and biodegradability, is becoming the preferred choice for many industries aiming to reduce their environmental footprint.
- Government Initiatives: Supportive policies and initiatives by the Indian government to promote manufacturing and exports are providing a conducive environment for the packaging industry to flourish.
FCBM, established in 1971, serves as the apex body representing India’s corrugated packaging industry, with a membership exceeding 2,000 manufacturers. The federation is dedicated to exploring new markets, creating awareness about the advantages of corrugated boxes, and undertaking research and development activities to continuously upgrade technology and skills within the industry.
As the industry gears up to meet the anticipated demand, FCBM emphasizes the importance of adopting advanced manufacturing technologies and maintaining high-quality standards to stay competitive in the global market. The federation also highlights the need for continuous skill development and innovation to address the evolving requirements of various sectors reliant on corrugated packaging.
In summary, the projected growth of 10-12% annually over the next ten years underscores the vital role of the corrugated packaging industry in supporting India’s economic development and its transition towards sustainable packaging solutions.
