LKR Knowledge BaseBy LKR Advisors — a plain-english ledger of Indian business
Paper
Concept #315

Packaging Paper Overtakes Print & Writing Paper

How digital substitution shrank one half of the industry while e-commerce grew the other

Paper·beginner·1 min read·Updated July 2026
High single-digit to low double-digit
Packaging paper/board growth
Structurally declining
Print & writing paper trend

Imagine an industry with two genuinely different products bundled under one name, both technically 'paper', but pulled in opposite directions by completely unrelated forces, one shrinking because people increasingly read and write on screens instead of paper, the other growing because those same people are ordering more physical goods online than ever before, each requiring its own cardboard box or paperboard packaging.

That's precisely what has happened inside India's paper industry over the last decade, print and writing paper, the segment most people instinctively think of when they hear 'paper industry', has faced structural demand pressure as digital reading, note-taking and communication steadily displace physical paper use, a trend with no realistic reversal on the horizon.

Packaging paper and paperboard, by contrast, is now the industry's clear growth engine, growing at a high single-digit to low double-digit pace, driven directly by e-commerce, food delivery and organised retail expansion, each of which packages physical goods in exactly the paperboard products this segment produces, and reinforced further by the plastic packaging restrictions covered elsewhere on this site.

This internal shift matters enormously for how you should read any single 'paper industry' statistic, overall industry growth numbers can look modest even while the packaging segment genuinely booms, because print and writing paper's decline is quietly offsetting packaging's growth in the aggregate figures, meaning the real story in Indian paper right now lives inside the mix shift, not in the industry's headline growth rate.

Packaging PaperPrint PaperDigital Substitution