The Indian paper & paper products market to reach $ 13.4 billion by 2024
 

India's share in the demand for paper across the globe were analyzed is growing, as the domestic demand is increasing at a steady pace.Growing manufacturing sector, requirement of better quality packaging of FMCG products marketed through organized retail and the demand for the upstream market of paper products, such as tissue paper, filter paper, tea bags, light weight online coated paper and medical grade coated paper are expected to drive the paper & paper products market in India in coming years. The per capita paper consumption in India at a little over 13 kg, is way behind the global average of 57 kg.

 

The paper and board industry in India is considering this transition phase as a great opportunity coupled with the challenge of providing affordable alternatives. Paper mills are conducting various trials to make paper and paperboard for the intended use, like carrying, wrapping, protecting, packing and holding as a container.

 

Under the baseline scenario, by 2024-25, domestic consumption is projected to rise to 23.5-million tpa and production to 22.0-million tpa. About one million tpa of integrated pulp, paper and paperboard capacity is required to be created in India on an annual basis over the current capacity to meet the growing demand.

 

India is the fastest growing market for paper globally and it presents an exciting scenario; paper consumption is poised for a big leap forward in sync with the economic growth.