India Rigid Plastic Packaging Market Size (2024 - 2029)

The Indian rigid plastic packaging market is experiencing significant growth, driven by increasing demand across various sectors such as food and beverage, personal care, and healthcare. This expansion is attributed to the material's affordability, toughness, and lightweight properties, which make it a preferred choice for packaging solutions. The market's growth is further supported by the rising need for sustainable and eco-friendly packaging options, prompting manufacturers to adopt innovative strategies to maintain competitiveness. Despite challenges posed by stringent regulations and higher production costs, the market continues to thrive due to urbanization, rising disposable incomes, and changing consumer lifestyles. The COVID-19 pandemic and geopolitical events like the Russia-Ukraine war have also influenced the market dynamics, leading to increased demand for single-use plastic packaging.

Market Size of India Rigid Plastic Packaging Industry

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India Rigid Plastic Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 9.36 %
Market Concentration Low

Major Players

India Rigid Plastic Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Rigid Plastic Packaging Market Analysis

The Indian rigid plastic packaging market is anticipated to register a CAGR of 9.36% over the next five years. The market is anticipated to witness significant growth rates primarily due to the increasing demand for rigid plastic goods across various end-user industries, including food and beverage and personal care products. In addition, essential home products, including trays, shallow plates, and rigid plastic containers, among others, also contribute to the growth of the industry in India.

  • Rigid plastic packaging is widely used in the country because of its affordability, toughness, and lightweight. Rigid plastics like PET and HDPE can be placed directly into a recycling bin. Flexible packaging is less eco-friendly than rigid plastics, even though they are recyclable. The market is growing as rigid plastic packaging is employed in several end-user industries across the nation.
  • Further, the number of manufacturers in the rigid plastic packaging industry is expanding nationwide. Demand for rigid plastic packaging is driven by the growing rivalry among small and medium-sized market participants to provide eco-friendly and sustainable packaging solutions to attract customers' attention. These market participants in India are using various strategies to retain their position in the market.
  • The market for rigid plastic packaging is expanding in India with the rising food and beverage sector. The demand for packaged meals in the F&B sector and the healthcare industry is driving the growth of the market. The need for packaged goods has steadily risen due to urbanization, rising disposable income, and changing lifestyles. These containers also aid in extending the shelf life of food and ensuring food safety. Due to its characteristics, such as moisture resistance and tamper proof, it is becoming more popular in the healthcare sector.
  • However, strict regulations may pose problems for rigid plastic packaging, albeit to a lesser extent. The Indian government has stepped up its environmental monitoring, and campaigns to promote sustainable packaging are being started. Compliance with regulations is crucial since even the tiniest packaging error might harm the goods. Additionally, it will have a negative financial impact on the manufacturer. The cost of using raw materials that degrade more quickly is higher. The market for rigid plastic packaging is restricted from growing because it increases production costs, further pressuring prices.
  • The COVID-19 outbreak had a mixed impact on the rigid plastics packaging industry in 2020 and through the end of 2021. The COVID-19 pandemic was highly beneficial to the manufacturers of plastic packaging. Although many countries gradually banned such packaging and promoted reusable packaging, the pandemic changed how consumers and governments felt about them. As a result of the pandemic, there was a sharp increase in demand for nourishing food and beverages. Most of these products are packaged in single-use plastic. Globally, the orders were so large that, with assistance from most governments, the manufacturers and packaging companies in the sector even expanded their facilities. The Russia-Ukraine war also impacted the overall packaging ecosystem.

India Rigid Plastic Packaging Industry Segmentation

The study on the Indian rigid plastic packaging market tracks the demand for significant packaging format types such as bottles and containers, cups and tubs, among other products, along with corresponding end-user industry verticals demand and revenue accrued from the sales of these rigid packaging products.

The Indian rigid plastic packaging market is segmented by material type (PP, PET, HDPE & LDPE), product type (bottles & containers, cups & tubs, rigid bulk products (RIBC, etc.)), and end-user type (food and beverage, pharmaceuticals, personal care & cosmetics, homecare, and industrial (includes lubricants, fertilizers, and bulk-containers used in logistics)). The market sizes and forecasts are provided in terms of value in USD billion for all the above segments.

By Material Type
PP
PET
HDPE & LDPE
Other Material Types
By Product Type
Bottles & Containers
Cups & Tubs
Rigid Bulk Products (RIBC, etc.)
Other Product Types (Caps & Closures, etc.)
By End-user Type
Food
Beverage
Pharmaceuticals
Personal Care & Cosmetics
Homecare
Industrial (includes Lubricants, Fertilizers, and Bulk-containers used in Logistics)
Other End-user Types
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India Rigid Plastic Packaging Market Size Summary

The Indian rigid plastic packaging market is poised for substantial growth, driven by increasing demand across various sectors such as food and beverage, personal care, and healthcare. The affordability, durability, and lightweight nature of rigid plastics like PET and HDPE make them a preferred choice for packaging solutions. The market's expansion is further fueled by the rise of e-commerce, which has significantly boosted the demand for packaging materials that ensure product safety and extend shelf life. The growing urbanization, rising disposable incomes, and changing consumer lifestyles in India are contributing to the heightened demand for packaged goods, thereby propelling the rigid plastic packaging industry forward.

Despite the promising growth prospects, the market faces challenges such as stringent environmental regulations and the need for sustainable packaging solutions. The Indian government's focus on promoting eco-friendly practices has led to increased scrutiny of packaging materials, necessitating compliance from manufacturers. The COVID-19 pandemic initially boosted the demand for single-use plastics, but it also highlighted the need for sustainable alternatives. The competitive landscape of the Indian rigid plastic packaging market is characterized by numerous players investing in innovation and strategic partnerships to maintain their market position. Collaborations and joint ventures, such as those between the Indian Institute of Science and Manjushree Technopack Ltd., are aimed at enhancing recycling capabilities and developing sustainable packaging solutions, further shaping the industry's future.

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India Rigid Plastic Packaging Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Assessment of Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Material Type

      1. 2.1.1 PP

      2. 2.1.2 PET

      3. 2.1.3 HDPE & LDPE

      4. 2.1.4 Other Material Types

    2. 2.2 By Product Type

      1. 2.2.1 Bottles & Containers

      2. 2.2.2 Cups & Tubs

      3. 2.2.3 Rigid Bulk Products (RIBC, etc.)

      4. 2.2.4 Other Product Types (Caps & Closures, etc.)

    3. 2.3 By End-user Type

      1. 2.3.1 Food

      2. 2.3.2 Beverage

      3. 2.3.3 Pharmaceuticals

      4. 2.3.4 Personal Care & Cosmetics

      5. 2.3.5 Homecare

      6. 2.3.6 Industrial (includes Lubricants, Fertilizers, and Bulk-containers used in Logistics)

      7. 2.3.7 Other End-user Types

India Rigid Plastic Packaging Market Size FAQs

The India Rigid Plastic Packaging Market is projected to register a CAGR of 9.36% during the forecast period (2024-2029)

EPL Limited, Time Technoplast Ltd., Amcor Rigid Plastics, Manjushree Technopack Ltd. and Mold-Tek Packaging Ltd are the major companies operating in the India Rigid Plastic Packaging Market.

INDIA RIGID PLASTIC PACKAGING MARKET Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)