Southern Asia: Packaging Materials Market 2024

Packaging Materials Market Size in Southern Asia

In 2022, the South Asian packaging materials market increased by 3.4% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Packaging Materials Production in Southern Asia

In value terms, packaging materials production shrank slightly to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 35%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Packaging Materials Exports

Exports in Southern Asia

In 2022, shipments abroad of packaging materials decreased by -37.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 104%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced rapidly in the following year.

In value terms, packaging materials exports dropped sharply to $X in 2022. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 102%. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

India dominates exports structure, resulting at X tons, which was near 96% of total exports in 2022. Pakistan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the packaging materials exports, with a CAGR of +26.9% from 2012 to 2022. At the same time, Pakistan (+15.2%) displayed positive paces of growth. While the share of India (+6.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (-4.4 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest packaging materials supplier in Southern Asia, comprising 92% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 7.6% share of total exports.

In India, packaging materials exports increased at an average annual rate of +25.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, surging by 35% against the previous year. Over the period under review, the export price, however, recorded a noticeable descent. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.0%).

Packaging Materials Imports

Imports in Southern Asia

In 2022, the amount of packaging materials imported in Southern Asia reduced to X tons, shrinking by -3.6% against the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.3% against 2012 indices. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. As a result, imports reached the peak of X tons, and then declined slightly in the following year.

In value terms, packaging materials imports rose rapidly to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 40% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

India (X tons) and Bangladesh (X tons) represented the largest importers of packaging materials in 2022, amounting to approx. 40% and 34% of total imports, respectively. Sri Lanka (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (12%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +8.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported packaging materials in Southern Asia, comprising 48% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 23% share of total imports. It was followed by Pakistan, with a 14% share.

In India, packaging materials imports expanded at an average annual rate of +9.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+3.8% per year) and Pakistan (+3.5% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, increasing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 when the import price increased by 20%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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