Indian flexible and carton packaging industry keeps growing

Demand growth for consumer products, including flexible and board packaging, has softened in India, particularly in rural areas. Larger food-related FMCG companies are expecting flat or soft growth, while smaller companies like Britannia, ITC's food consumer products division, Mrs. Bector’s Foods, and Jyothi Laboratories anticipate higher growth. Despite this, larger packaging companies are investing in capacity expansion. Uflex, a global flexible and aseptic packaging conglomerate, reported increased revenue but a decline in net profit. Monocarton companies are building new plants and upgrading presses to remain competitive. The carton industry has been impacted by alcobev suppliers removing outer carton packaging for liquor bottles. Companies like TCPL Packaging are diversifying and expanding, with healthy revenue and profit growth.