India remains fastest growing paper market in world: IPMA
The Indian Paper Manufacturers Association (IPMA) in its latest report has said that India remains the fastest-growing paper market in the world with domestic consumption of packaging paper and paperboard growing at 8.2 per cent in 2023-24. It mentioned the domestic packaging paper & paperboard market stands at about 15 million tonnes which is nearly 65 per cent of the total paper, paperboard and newsprint market of 23 million tonnes in the country.
It said demand for better quality packaging of FMCG products, textiles, pharmaceuticals, among others, as well as, booming e-commerce and rising healthcare spends are among the factors that are driving the growth of packaging paper & paperboard market in India. It added the ban on single-use plastic, with paper offering a sustainable environment-friendly option, has also emerged as a key demand driver for these products.
Further, it said, overall, the demand for paper in India is growing at 6-7 per cent per annum, making it one of the fastest growing markets in the world. Writing & printing (W&P) paper market, which is traditionally associated with consumption of paper in the country, is growing at around 3 per cent and within this, copier paper demand is growing at the fastest rate of 4.5 per cent.
Per capita paper consumption in India is currently at a low of 16 kg as against the global average of 57 kg. Developed countries have 200+ kg of per capita consumption of paper. Pawan Agarwal, President IPMA, said per capita paper consumption in India is projected to increase over time with increasing levels of literacy, higher growth of organised retail and need for packaging, and overall economic development.
