ROLE OF SUSTAINABLE PACKAGING PRACTICES IN THE FAST-MOVING CONSUMER GOODS (FMCG) INDUSTRY: THE INDIAN SCENARIO

By the next two years, the FMCG market in India is expected to have grown from US$ 110 billion in 2020 to US$ 220 billion at a compound annual growth rate (CAGR) of 14.9 percent. In the coming years, it is projected that the Indian packaged food market will double in size to reach US$70 billion. As more people in urban and rural areas have access to the internet, there is a greater need for FMCG products in India, mostly through e-commerce websites. Maintaining the integrity, safety, and quality of products across supply chains has always depended heavily on packaging. For FMCG companies, post-consumer packaging waste is a critical concern. About 19 percent of all plastic material is thought to be dumped unmanaged worldwide, and only 16 percent of that waste is recycled into new plastics. Forty percent of plastic waste ends up in landfills, and about twenty-five percent is burned. Moreover, the FMCG division faces expanding weight to embrace economical hones in today's naturally cognizant world. The given study is undertaken to have an insight about the role and current trend of sustainable packaging in the FMCG industry in India. The paper basically uses the data available through journals, reports, articles, etc. Not only is the shift to sustainable packaging changing industry norms, but it is also establishing a new standard for environmental responsibility. In addition to protecting goods, modern packaging must actively support environmental objectives. Rapid innovation in environmentally friendly materials and designs has been spurred by this necessity, radically altering the industry. Keywords: sustainability, FMCG, packaging, waste management, technology, environment