Market Trends of India Plastic Caps And Closures Industry
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.
Understand The Key Trends Shaping This Market
Download PDF
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.
