India Plastic Packaging Film Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 7.26 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Plastic Packaging Film Market Analysis
The India Plastic Packaging Film Market size in terms of shipment volume is expected to grow from 1.81 Million tonnes in 2024 to 2.57 Million tonnes by 2029, at a CAGR of 7.26% during the forecast period (2024-2029).
- India's growing appetite for packaged food and the simultaneous upsurge in pharmaceutical production, aimed at bolstering the nation's medicine supply, are pivotal factors propelling the demand for plastic packaging films. This encompasses both flexible and rigid films.
- Plastic packaging films, made predominantly from polypropylene and polyethylene, offer excellent moisture protection. These films are used extensively in packaging food and beverage items, ranging from non-alcoholic drinks to meat and seafood products. Constant innovation is taking center stage in the food and beverage sector, driven by the surging demand for processed and packaged foods in India.
- The market faces significant challenges, primarily driven by the evolving regulatory standards in response to mounting environmental concerns. The Indian Government is actively addressing public awareness of plastic packaging waste by enacting stringent regulations to curb environmental harm and enhance waste management. This heightened awareness of single-use plastics' environmental repercussions prompts consumers to seek products with reduced environmental footprint and elevated sustainability standards.
- Flexible films offer many advantages, such as reducing production costs, enhancing sustainability, enabling easy recyclability, and more customization options. Since end users across the market are gravitating toward eco-friendly product packaging options, there is a robust shift in demand from rigid plastic packaging to lightweight and sustainable flexible films for packaging.
- With India witnessing a notable surge in milk production and consumption, the demand for flexible packaging in the dairy industry has soared. These solutions are tailored to meet the specific needs of the dairy industry, offering robust advantages.
- According to the USDA Foreign Agricultural Service, in 2023, India's domestic milk consumption surpassed 207 million metric tons, marking a rise from the previous year's 202 million metric tons. This trend is expected to continue in the coming years, contributing to the demand for flexible packaging films for dairy products. Flexible packaging films play a pivotal role in maintaining product freshness and prolonging shelf life in the dairy industry; thus, with the growth of the dairy industry, the demand for packaging films will also increase.
India Plastic Packaging Film Market Trends
Demand for BOPET Films is Expected to Increase
- BOPET (biaxially oriented polyethylene terephthalate), a polyester film produced from stretched PET, is utilized for its high tensile strength, chemical and dimensional stability, transparency, reflectivity, gas and fragrance barrier qualities, and electrical insulation. BOPET is a transparent, robust, and lightweight plastic that is used to produce a range of packaging materials for beverages, food, personal care, home care, medicines, and other consumer and industrial products.
- Food brands compete fiercely to differentiate their products on supermarket shelves crowded with similar offerings. Pouch packs and films are pivotal in this strategy, enhancing packaging appeal and bolstering brand recognition. According to Agriculture and Agri-Food Canada, in 2023, India's retail sales for chocolate pouches and films surpassed USD 250 million. By 2028, this figure is projected to soar to approximately USD 458 million, recording a CAGR of 12.3%. This indicates the expected demand for flexible pouches in India in the coming years.
- BOPET packaging films find prominent applications in the food industry, notably in stand-up and retort pouches, lidding films, and metalized films. The surge in the demand for these films is a response to the food industry's heightened concerns over shelf life extension and the imperative to curb food wastage throughout the supply chain.
- India Brand Equity Foundation (IBEF) reported that BOPET film has primary end applications in flexible packaging, representing about 60% of global consumption. The market is poised to see sustained dominance from Indian manufacturers, who are increasingly expanding their global footprint.
- Several companies are actively expanding their production capacities. In January 2023, Ester Industries Limited (Ester Filmtech Limited) inaugurated its new polyester (BOPET) film manufacturing plant in Telangana. Spanning 50 acres, this 48,000 MTPA unit was constructed at an estimated cost of INR 650 crores (USD 78.5 million). Once fully operational, the plant is projected to generate revenues of approximately INR 600 crores (USD 72.62 million).
Rising Demand From the Healthcare and Pharmaceutical Sectors Aids Market Growth
- Plastic films, known for their exceptional clarity and transparency, offer a clear view of healthcare products, facilitating easy inspection and elevating product presentation. Their flexibility allows seamless conversion into various packaging formats like pouches, sachets, blister packs, and labels, meeting a wide array of healthcare packaging requirements.
- Pharmaceutical and healthcare packaging encompasses containment, ensuring drug safety, and facilitating product identification for handling and delivery. It plays a pivotal role in marketing life-saving drugs, packaging liquid and dosage forms, surgical devices, blood products, powders, and various solid and semisolid medications; it helps preserve their quality over an extended period.
- Invest India projected that the Indian pharmaceutical industry will be valued at USD 65 billion in 2024. India is a key player in pharmaceutical exports, reaching over 200 countries. Notably, India fulfills more than half of Africa's generic drug needs, dominates 40% of the US generic market, and supplies a quarter of the UK's medications. Moreover, India commands a substantial 60% share in the global vaccine market, particularly excelling as a primary provider of DPT, BCG, and measles vaccines.
- In the past few years, especially after COVID-19, pharmaceutical and healthcare exports from India have gradually increased. However, with the escalating export trade from the country, there is a rising demand for high-oxygen barrier polymer films for packaging pharmacies and medical devices.
- According to the India Brand Equity Foundation (IBEF) report, in the financial year 2023, India emerged as the global leader in generic drug production, exporting pharmaceuticals valued at approximately USD 25.4 billion, a significant rise from USD 17.3 billion in 2018. Moreover, India's expanding middle-income group, coupled with a surge in exports demanding higher packaging standards, is driving a notable uptick in plastic film packaging demand, especially in the pharmaceutical sector.
India Plastic Packaging Film Industry Overview
India's plastic film packaging market is moderately fragmented. Major market players include UFlex Limited, Cosmo Films Limited, Jindal Poly Films, and Ecoplast Ltd. The market comprises major global and local players supplying raw materials and packaging services. The latest developments in packaging and film materials are shaping the market.
April 2024: UFlex Limited secured a long-term power purchase agreement (PPA) with Amplus Phoenix Private Limited. This agreement was specifically tailored for UFlex's packaging films plant in Karnataka. As part of its commitment to achieving net-zero emissions by 2035, or even earlier, UFlex aims to slash its carbon footprint by an estimated 19,000 tCO2e.
India Plastic Packaging Film Market Leaders
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Cosmo Films Limited
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UFlex Limited
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Jindal Poly Films
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Ecoplast Ltd.
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Chiripal Poly Films Limited
*Disclaimer: Major Players sorted in no particular order
India Plastic Packaging Film Market News
March 2024: Toppan Packaging Service Co. Ltd, a wholly-owned subsidiary of TOPPAN Holdings Inc., in collaboration with India's TOPPAN Speciality Films Private Limited (TSF), unveiled GL-SP, a cutting-edge barrier film utilizing biaxially oriented polypropylene (BOPP) as its base. This innovative product is set to join the TOPPAN Group's renowned GL BARRIER1 series, which is known for its transparent vapor-deposited barrier films with a significant global market share. TOPPAN and TSF were expected to commence sales of GL-SP from April 2024, targeting the packaging of dry goods, primarily in India and other key Asian markets.
April 2024: UFlex, a key Indian multinational specializing in plastic packaging films, commenced commercial operations at its Panipat facilities. The newly operational polyester chip plant in Panipat is a testament to UFlex's dedication to vertical integration, boasting an annual capacity of 168,000 metric tons. These chips play a pivotal role as a primary raw material in manufacturing BOPET packaging films.
India Plastic Packaging Film 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
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Buyers
- 4.2.2 Bargaining Power of Suppliers
- 4.2.3 Threat of Substitutes
- 4.2.4 Threat of New Entrants
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Rising Demand For Light-Weight and Sustainable Packaging Across Industries
- 5.1.2 Robust Demand From the Food and Pharmaceutical Sector Aids Growth
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5.2 Market Restraints
- 5.2.1 Stringent Government Policies Against the Use of Plastic
6. MARKET SEGMENTATION
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6.1 By Type
- 6.1.1 Polypropylene (Biaxially Oriented Polypropylene (BOPP), Cast polypropylene (CPP))
- 6.1.2 Polyethylene (Low-Density Polyethylene (LDPE), Linear low-density polyethylene (LLDPE))
- 6.1.3 Polyethylene Terephthalate (Biaxially Oriented Polyethylene Terephthalate (BOPET))
- 6.1.4 Polystyrene
- 6.1.5 Bio-Based
- 6.1.6 PVC, EVOH, PETG, and Other Film Types
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6.2 By End User
- 6.2.1 Food
- 6.2.1.1 Candy & Confectionery
- 6.2.1.2 Frozen Foods
- 6.2.1.3 Fresh Produce
- 6.2.1.4 Dairy Products
- 6.2.1.5 Dry Foods
- 6.2.1.6 Meat, Poultry, And Seafood
- 6.2.1.7 Pet Food
- 6.2.1.8 Other Food Products
- 6.2.2 Healthcare
- 6.2.3 Personal Care & Home Care
- 6.2.4 Industrial Packaging
- 6.2.5 Other End-use Industry
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Chiripal Poly Films
- 7.1.2 Cosmo Films Limited
- 7.1.3 UFlex Limited
- 7.1.4 Jindal Poly Films
- 7.1.5 Toray Advanced Film Co. Ltd
- 7.1.6 Ecoplast Ltd
- 7.1.7 TOPPAN Inc.
- 7.1.8 Sealed Air Corporation
- 7.1.9 Berry Global Inc.
- 7.1.10 Vishakha Polyfab Pvt Ltd
- 7.1.11 Supreme Industries Ltd
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIndia Plastic Packaging Film Industry Segmentation
Plastic films are thin, continuous materials typically wound on a core or cut into sheets. The study tracks the demand for converted packaging films across the major resin and application types. The analysis delves into various film types, including polypropylene (PP), polyethylene film (PE), polyethylene terephthalate films (PET), polystyrene films (PS), bio-based, and other variants. The segmentation extends to encompass end-user industries.
The Indian plastic packaging film market is segmented by type (polypropylene (biaxially oriented polypropylene (BOPP) and cast polypropylene (CPP)), polyethylene (low-density polyethylene (LDPE) and linear low-density polyethylene (LLDPE)), polyethylene terephthalate (biaxially oriented polyethylene terephthalate (BOPET)), polystyrene, bio-based, and PVC, EVOH, PETG, and other film types) and end user (food [candy & confectionery, frozen foods, fresh produce, dairy products, dry foods, meat, poultry, and seafood, pet food, and other food products], healthcare, personal care & home care, industrial packaging, and other end users). The market sizes and forecasts are provided in terms of volume (units) for all the above segments.
| By Type | Polypropylene (Biaxially Oriented Polypropylene (BOPP), Cast polypropylene (CPP)) | |
| Polyethylene (Low-Density Polyethylene (LDPE), Linear low-density polyethylene (LLDPE)) | ||
| Polyethylene Terephthalate (Biaxially Oriented Polyethylene Terephthalate (BOPET)) | ||
| Polystyrene | ||
| Bio-Based | ||
| PVC, EVOH, PETG, and Other Film Types | ||
| By End User | Food | Candy & Confectionery |
| Frozen Foods | ||
| Fresh Produce | ||
| Dairy Products | ||
| Dry Foods | ||
| Meat, Poultry, And Seafood | ||
| Pet Food | ||
| Other Food Products | ||
| By End User | Healthcare | |
| Personal Care & Home Care | ||
| Industrial Packaging | ||
| Other End-use Industry |
India Plastic Packaging Film Market Research FAQs
How big is the India Plastic Packaging Film Market?
The India Plastic Packaging Film Market size is expected to reach 1.81 million tonnes in 2024 and grow at a CAGR of 7.26% to reach 2.57 million tonnes by 2029.
What is the current India Plastic Packaging Film Market size?
In 2024, the India Plastic Packaging Film Market size is expected to reach 1.81 million tonnes.
Who are the key players in India Plastic Packaging Film Market?
Cosmo Films Limited, UFlex Limited, Jindal Poly Films, Ecoplast Ltd. and Chiripal Poly Films Limited are the major companies operating in the India Plastic Packaging Film Market.
What years does this India Plastic Packaging Film Market cover, and what was the market size in 2023?
In 2023, the India Plastic Packaging Film Market size was estimated at 1.68 million tonnes. The report covers the India Plastic Packaging Film Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Plastic Packaging Film Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Plastic Packaging Film Industry Report
Statistics for the 2024 India Plastic Packaging Film market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Plastic Packaging Film 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.
