India Plastic Caps and Closures Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.36 Billion |
| Market Size (2029) | USD 6.88 Billion |
| CAGR (2024 - 2029) | 5.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Plastic Caps and Closures Market Analysis
The India Plastic Caps And Closures Market size is estimated at USD 5.36 billion in 2024, and is expected to reach USD 6.88 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029). In terms of shipment volume, the market is expected to grow from 33.74 billion units in 2024 to 42.95 billion units by 2029, at a CAGR of 4.95% during the forecast period (2024-2029).
- By 2024, India is expected to cement its position as the world's fifth-largest economy, showcasing rapid growth. The surge in urbanization, fueled by trends like dual-income households, evolving spending habits, and a rising number of working women, is amplifying the demand for processed foods and beverages. This shift is largely driven by a preference for convenience, especially in the face of increasingly hectic lifestyles.
- The food processing sector in India stands as a linchpin of the nation's economy, with significant growth prospects. As highlighted by the US Department of Agriculture (USDA), this sector bolsters India's GDP and is pivotal in driving exports, investments, and employment rates. Furthermore, the confluence of changing consumer behaviors, rapid urbanization, and a tech-savvy populace fuel the online grocery market, thereby fortifying India's food industry. This, in turn, is amplifying the demand for plastic caps and closures within the country.
- Moreover, India's burgeoning alcoholic beverage sector owes its momentum to a youthful demographic, rising affluence, and the swift urbanization seen in tier 2 and tier 3 cities. Notably, there is a discernible shift toward premium spirits in the country. Highlighting this trend, the US Department of Agriculture (USDA) data reveals that India's imports of distilled spirits surged to a value of USD 572 million in 2023, marking a 5% increase from the previous year.
- Aptar Group Inc., among other manufacturers in India, focuses on delivering innovative, custom-designed caps and closures. These cater to a range of industries, from pharmaceuticals to personal care and beauty. Such tailored designs aid in brand differentiation and play a pivotal role in propelling the market’s growth.
- However, the growing environmental concerns regarding plastic waste in India are a major challenge to the market’s growth. Dynamic shifts in regulatory standards are poised to pose a substantial challenge to the Indian market. Moreover, manufacturers in the country are increasingly favoring metal caps and closures over plastic in response to mounting environmental concerns. This shift is, however, impeding the market's growth.
India Plastic Caps and Closures Market Trends
Polyethylene (PE) Segment is Estimated to Have the Largest Market Share
- India's plastic industry stands as a linchpin of the nation's economy. The country's manufacturing sector boasts many products, from plastics and fishnets to floor coverings, medical supplies, and packaging materials. As of February 2024, data from PLEXCONCIL revealed that India's plastic exports hit a notable USD 10.43 billion, significantly fueling market expansion.
- The surge in polyethylene (PE) usage for crafting caps and closures in India is attributed to its robustness, offering impact resistance that minimizes design vulnerabilities. Leading Indian manufacturers, like Amcor Group GmbH and Aptar Group Inc., leverage PE material to create child-resistant dispensing pumps, closures, and caps for food, beverages, beauty, and home care applications.
- India's prevalent adoption of PE material in fabricating pharmaceutical pumps, valves, and dispensing solutions is a key driver of the market’s growth. The strategic focus of several plastic cap and closure manufacturers is on bolstering their pharmaceutical pump and dispensing solution capabilities to broaden their clientele. For instance, in December 2023, Aptar Group Inc., a US-based firm, inaugurated a new manufacturing facility in Mumbai, India, to amplify its innovative product output for the Southeast Asian region.
- India's escalating plastic exports and products fuel the market’s expansion. Specifically, data from the Plastics Export Promotion Council of India (PLEXCONCIL) highlights that, by February 2024, India exported 25.80% of its plastic as raw material and 5.48% as packaging products, with notable destinations being the United States, Germany, Japan, the United Kingdom, and France.
Personal Care and Cosmetics Industry Expected to Dominate the Market
- Over the last decade, India's personal care and cosmetics market has seen consistent growth, which is evident in the increasing shelf space dedicated to these products in boutiques and retail outlets nationwide. The market's expansion has been further propelled by the influx of multinational brands, which have capitalized on robust support systems and tailored pricing strategies.
- As per the Indian Brand Equity Foundation (IBEF), Generation Z's growing interest in affordable skincare and beauty has reshaped the sector, driving the demand for high-quality serums, creams, sprays, and other innovative beauty products.
- Indian manufacturers of caps and closures for the personal care and cosmetics industry are prioritizing sustainability without sacrificing aesthetics. For example, in May 2024, Aptar Group Inc., a US-based brand operating in India, unveiled a new plastic fragrance pump crafted from post-recycled resin (PCR), marking a significant stride toward sustainability.
- India's rising exports of beauty and makeup products, notably to the United Arab Emirates, China, the United States, Nepal, and Oman, are a testament to their quality, driving up demand for caps and closures. Data from the International Trade Centre (ITC) reveals that India's beauty product exports hit USD 767.90 million in 2023, reflecting a remarkable 148.57% surge from the previous year.
India Plastic Caps And Closures Industry Overview
The Indian plastic caps and closures market is moderately consolidated, with domestic players such as KKD International and Vimal Plastics Pvt. Ltd and International players, including Amcor Group GmbH, Aptar Group Inc., and Bericap Holding GmbH. To solidify their footprint in the market, the players focus on new product development, partnerships, trade expos, mergers and acquisitions, and collaborations.
- November 2023: Bericap Holding GmbH, a German company with operations in India, unveiled its plastic caps designed for beverage containers at the BrauBeviale event in Nuremberg. The highlight of their showcase was the tethered caps, specifically tailored for beverage bottles with capacities of up to three liters. These caps feature a user-friendly 180-degree opening, emphasizing both practicality and the company's brand image at the exhibition.
India Plastic Caps And Closures Market Leaders
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Aptar Group Inc.
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Bericap Holding GmbH
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Berry Global Inc.
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KKD International
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Vimal Plastics Pvt. Ltd.
*Disclaimer: Major Players sorted in no particular order
India Plastic Caps And Closures Market News
- June 2024: Aptar Group Inc., a US-based company with operations in India, has been named one of the World's Most Sustainable Companies 2024 by TIME magazine. Aptar's robust ESG strategy bolsters its sustainability objectives and enhances its market competitiveness.
- February 2024: Aptar Group Inc., a US-based company with a presence in India, has unveiled a novel, fully recyclable locking disc top closure tailored for beauty, personal care, and home care uses. This innovative closure is specifically designed for e-commerce shipments, ensuring secure transportation and minimizing leaks, thereby enhancing the overall consumer packaging experience.
India Plastic Caps and Closures Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitutes products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growth in the Food and Beverage Sector in India
- 5.1.2 Increased Demand for Customized Caps and Closures in the Market
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5.2 Market Challenge
- 5.2.1 Growing Environmental Concerns for Plastic Use
6. INDUSTRY REGULATION, POLICY AND STANDARDS
7. MARKET SEGMENTATION
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7.1 By Resin
- 7.1.1 Polyethylene (PE)
- 7.1.2 Polyethylene Terephthalate (PET)
- 7.1.3 Polypropylene (PP)
- 7.1.4 Other Plastic Materials (Polystyrene, PVC, Polycarbonate, etc.)
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7.2 By Product Type
- 7.2.1 Threaded
- 7.2.2 Dispensing
- 7.2.3 Unthreaded
- 7.2.4 Child-resistant
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7.3 By End-user Industries
- 7.3.1 Food
- 7.3.2 Beverage
- 7.3.2.1 Bottled Water
- 7.3.2.2 Carbonated Soft Drinks
- 7.3.2.3 Alcoholic Beverages
- 7.3.2.4 Juices & Energy Drinks
- 7.3.2.5 Other Beverages
- 7.3.3 Personal Care & Cosmetics
- 7.3.4 Household Chemicals
- 7.3.5 Other End-user Industries
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles
- 8.1.1 Berry Global Inc.
- 8.1.2 Bericap Holding GmbH
- 8.1.3 Amcor Group GmbH
- 8.1.4 Aptar Group Inc.
- 8.1.5 Sonoco Products Company
- 8.1.6 KKD International
- 8.1.7 Vimal Plastics Pvt. Ltd
- 8.1.8 Aglo Polymers Pvt. Ltd
- *List Not Exhaustive
- 8.2 Heat Map Analysis
- 8.3 Competitor Analysis - Emerging vs. Established Players
9. RECYCLING & SUSTAINABILITY LANDSCAPE
10. FUTURE OUTLOOK
** Subject To AvailablityIndia Plastic Caps and Closures Industry Segmentation
The scope of the study characterizes the plastic caps and closures market based on the product's raw materials, including PP, PE, PET, and other raw materials, used across various end-user industries such as food, pharmaceuticals, beverages, cosmetics and toiletries, and more across the country. The research also examines underlying growth influencers and significant industry vendors, all of which help to support market estimates and growth rates throughout the anticipated period. The market estimates and projections are based on the base year factors and arrive at top-down and bottom-up approaches.
The Indian plastic caps and closures market is segmented by resin (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP) and other plastic materials), by product type (threaded, dispensing, unthreaded, and child-resistant), by end-user industries (food, beverage (bottled water, carbonated soft drinks, alcoholic beverages, juices & energy drinks, and other beverages), personal care & cosmetics, household chemicals, and other end-user industries). The market sizing and forecasts are provided in terms of volume (units) and revenue (USD) for all the above segments.
| By Resin | Polyethylene (PE) | |
| Polyethylene Terephthalate (PET) | ||
| Polypropylene (PP) | ||
| Other Plastic Materials (Polystyrene, PVC, Polycarbonate, etc.) | ||
| By Product Type | Threaded | |
| Dispensing | ||
| Unthreaded | ||
| Child-resistant | ||
| By End-user Industries | Food | |
| Beverage | Bottled Water | |
| Carbonated Soft Drinks | ||
| Alcoholic Beverages | ||
| Juices & Energy Drinks | ||
| Other Beverages | ||
| Personal Care & Cosmetics | ||
| Household Chemicals | ||
| Other End-user Industries |
India Plastic Caps and Closures Market Research FAQs
How big is the India Plastic Caps And Closures Market?
The India Plastic Caps And Closures Market size is expected to reach USD 5.36 billion in 2024 and grow at a CAGR of 5.12% to reach USD 6.88 billion by 2029.
What is the current India Plastic Caps And Closures Market size?
In 2024, the India Plastic Caps And Closures Market size is expected to reach USD 5.36 billion.
Who are the key players in India Plastic Caps And Closures Market?
Aptar Group Inc., Bericap Holding GmbH, Berry Global Inc., KKD International and Vimal Plastics Pvt. Ltd. are the major companies operating in the India Plastic Caps And Closures Market.
What years does this India Plastic Caps And Closures Market cover, and what was the market size in 2023?
In 2023, the India Plastic Caps And Closures Market size was estimated at USD 5.09 billion. The report covers the India Plastic Caps And Closures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Plastic Caps And Closures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Plastic Caps and Closures Industry Report
Statistics for the 2024 India Plastic Caps And Closures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Plastic Caps And Closures analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
