India Plastic Bottles Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.29 Billion |
| Market Size (2029) | USD 1.42 Billion |
| CAGR (2024 - 2029) | 1.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Plastic Bottles Market Analysis
The India Plastic Bottles Market size is estimated at USD 1.29 billion in 2024, and is expected to reach USD 1.42 billion by 2029, growing at a CAGR of 1.9% during the forecast period (2024-2029). In terms of production volume, the market is expected to grow from 1.42 million tonnes in 2024 to 1.55 million tonnes by 2029, at a CAGR of 1.8% during the forecast period (2024-2029).
Plastic bottles are widely used in end-use industries, predominantly crafted from raw materials like polyethylene terephthalate, polypropylene, and polyethylene. This preference stems from the materials' lightweight nature and recyclability.
- Consumers increasingly favor plastic packaging because it is lightweight and unbreakable, enhancing ease of handling. Major manufacturers, too, lean toward plastic packaging primarily for its cost-effective production. The advent of polymers like polyethylene terephthalate (PET) and high-density polyethylene (HDPE) is broadening the horizons for plastic bottle applications, with a notable surge in PET bottle demand.
- Production bases in the global plastics industry are increasingly shifting to cost-effective Asian nations such as India. Bolstered by rising foreign investments and a surge in new manufacturing setups, Asia has emerged as one of the world's extensive and rapidly expanding markets for plastics.
- According to a study by the MSME Development Institute, India presents significant growth prospects driven by its burgeoning production activities. Dominating the landscape is the packaging sector, which accounts for nearly 60.0% of plastic demand. In India, plastic packaging consumption is projected to reach 12.0 million tons by 2025. Key growth drivers for the country's packaging industry include the FMCG industry and escalating capital investments.
- India is poised to witness a surge in demand for polyethylene, a favored material for packaging. This uptick is predominantly fueled by the escalating needs of the packaging industry, propelled by the expansion of the organized retail landscape. In February 2024, India, through the Bureau of Indian Standards (BIS) under the Ministry of Consumer Affairs, set minimum standards for polyethylene derivatives. India has exempted recycled polyethylene granules, pellets, and powder from quality regulations. The order mandates specific sampling and testing methods for low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), and high-density polyethylene (HDPE) materials and their compounds.
- Plastics play a vital role in numerous essential applications, and the challenge of managing plastic waste looms large. This challenge arises from the diverse uses of plastics and a general need for more awareness regarding waste management options. Loopify World Private Limited highlighted the escalating concern of plastic bottle pollution, a problem that has intensified in recent years. The surge in plastic waste can be directly attributed to the widespread purchase of plastic bottles.
India Plastic Bottles Market Trends
Market Growth Expected to be Driven by the Polyethylene Terephthalate (PET) Resin
- PET has become a vital packaging material among bottle manufacturers nationwide. Its versatility in accommodating different shapes and sizes has provided unparalleled alternatives to conventional glass and metal containers, making it a highly desirable choice in the packaging industry.
- As per the Plast India Foundation’s 2022 and early 2023 updates, Reliance Industries Limited emerged as the top PET producer in India, boasting a capacity exceeding 1,000 kilotons. The overall PET production capacity in India for that year surpassed 3,400 kilotons. Following closely behind was IVL Dhunseri, the second-largest PET producer in the nation, with a capacity of 720 kilotons.
- In May 2024, Loop Industries Inc., a clean technology firm dedicated to advancing a circular economy for plastics and fibers, entered into a 50/50 joint venture agreement for the Indian market with Ester Industries Ltd. Ester is recognized as one of India's premier manufacturers of polyester films and specialty polymers. The joint venture, termed "Infinite Loop India," aims to establish and operate a manufacturing facility in India. This facility will leverage Loop's proprietary Infinite Loop technology, which boasts a significant advantage over conventional mechanical PET recycling. Such collaborations by companies to recycle PET are expected to create opportunities for PET bottles in the country.
- According to Moneycontrol, a trade and finance advisor in India, TPL Plastech had a market capitalization of INR 4.91 billion (USD 0.59 million) as of March 2024. This made TPL Plastech the biggest plastic PET bottle, jar, and container company in India based on market capitalization. Hitech Corporation was ranked second, with a market capitalization of INR 3.5 billion (USD 0.42 million). Therefore, sustainable packaging solutions have gained traction in recent years due to rising consumer awareness. PET has emerged as an integral resin in the pursuit of eco-friendly packaging materials due to its recyclability and potential for circularity.
- Technological advancements are shaping the future of PET recycling, enhancing its efficiency, cost-effectiveness, and eco-friendliness. By collecting, processing, and converting used PET products into new packaging materials, India can significantly reduce reliance on virgin resources, reducing environmental waste.
Beverage Segment Poised for Strong Market Expansion
- Owing to durability and recyclability, plastic bottles made of PET resin are more prevalent in the beverage packaging market than glass bottles. The trend shows that lightweight, durable, and cost-effective PET is increasingly becoming the packaging medium for water. Moreover, PET bottles can be molded in different shapes according to packaging trends and the demand for labels to be applied to the body.
- According to the United Nations University Institute for Water, Environment, and Health, more than 14 lakh tons of PET plastic, commonly packaged in bottled water, are consumed annually in India. Further, the country is also one of the fastest-growing mineral water markets. According to a report by the International Bottled Water Association, about 97% of bottled water bottles are plastic, and nearly 80% of that plastic is polyethylene terephthalate (PET).
- Demand for nutraceutical beverages, which combine the advantages of pharmaceuticals and nutrition, is surging. Products enriched with immunity-enhancing components like turmeric, ginger, and probiotics are experiencing robust growth. Functional beverages tailored for targeted hydration are becoming increasingly favored by health-conscious consumers. Additionally, beverages enhanced with vitamins, minerals, and other beneficial ingredients are drawing a significant consumer base.
- According to KNAV, a global accounting and advisory firm, in 2023, carbonated beverages accounted for over 40% of India's non-alcoholic drinks market. Packaged water was the second most favored option, capturing a 30% share. Also, in 2023, India's non-alcoholic beverage industry generated revenues nearing USD 17 billion. The demand for non-alcoholic beverages in the country is expected to drive the market for plastic bottles.
- Therefore, heightened awareness of environmental issues has driven significant shifts in packaging trends across the country in recent years. Key priorities have emerged, such as reducing container weight and streamlining packaging materials. This eco-conscious mindset has spurred the creation of products crafted from recycled materials. To further promote circularity in the supply chain, companies across the nation are introducing recyclable bottles made from recycled content.
India Plastic Bottles Industry Overview
The Indian plastic bottles market is fragmented with the presence of global and domestic players such as ALPLA Group, Berry Global Inc., Manjushree Technopack Limited, JSK Plastic Industries, and AG Poly Packs Private Limited. The companies operating are focused on expanding their business through new product innovations, investments, mergers, and collaborations.
- August 2024: Manjushree Technopack, a provider of rigid plastic packaging solutions backed by Advent International, in October 2023, forged a collaboration with Ganesha Ecosphere Group's Bottle-to-Bottle Recycling division. Together, they aim to co-develop and supply both food and non-food-grade packaging products crafted from recycled plastics. The partnership aims to deliver top-tier plastic packaging products, incorporating up to 100% recycled plastic. MTL and Ganesha will jointly develop and test these products, ensuring they meet the standards set by FSSAI, the US FDA, and the European Food Safety Authority.
- June 2024: ALPLA completed an year since annoucement of its collaboration with Coca-Cola India, in June 2023, to introduce a groundbreaking bottle crafted entirely from 100% recycled PET (rPET) in Andhra Pradesh. This marked a historic moment as the inaugural instance of a 100% rPET bottle being utilized in India for food and beverages. By supplying the rPET preforms, ALPLA actively contributed to Coca-Cola's ambitious global objective: to incorporate at least 50% recycled material in all its packaging by 2030. Presently, 90% of Coca-Cola's packaging is recyclable, with 15% of the PET being recycled globally.
India Plastic Bottles Market Leaders
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Alpla Group
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Berry Global, Inc.
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Manjushree Technopack Limited
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AG Poly Packs Private Limited.
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JSK Plastic Industries
*Disclaimer: Major Players sorted in no particular order
India Plastic Bottles Market News
- August 2024: Coca-Cola India announced that it was furthering its commitment to a circular economy. The company will complete a year of unveiling Coca-Cola bottles made from rPET, available in 250 ml and 750 ml sizes, in October 2024. These bottles were produced with Coca-Cola's bottling partners, Moon Beverages Ltd and SLMG Beverages Ltd. The expansion into rPET bottles underscored Coca-Cola India's dedication to fostering a sustainable and eco-friendly future.
- August 2024: PepsiCo India's Sting brand will complete a year of the debut of its limited-edition flavor, Sting Blue Current, in September 2024. The flavor joined the ranks of the Sting Energy lineup in September 2023. Alongside the launch, a playful brand campaign underscored Sting's ethos of delivering electrifying energy, featuring the tagline 'Sting Blue Current, Kamaal ka Current,’ beckoning consumers to dive into the thrill of Sting Blue Current. Sting Blue Current is available in 200 ml single-serve packs across India.
India Plastic Bottles 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 Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Popularity of Lightweight Packaging Techniques
5.1.2 Growing Retail and Recycled Plastic Packaging
5.2 Market Challenges
5.2.1 Government Regulations and Environmental Concerns
6. MARKET SEGMENTATION
6.1 By Resin
6.1.1 Polyethylene (PE)
6.1.2 Polyethylene Terephthalate (PET)
6.1.3 Polypropylene (PP)
6.1.4 Other Resins
6.2 By End-use Industries
6.2.1 Food
6.2.2 Beverages
6.2.2.1 Bottled Water
6.2.2.2 Carbonated Soft Drinks
6.2.2.3 Alcoholic Beverages
6.2.2.4 Juices & Energy Drinks
6.2.2.5 Other Beverages
6.2.3 Pharmaceuticals
6.2.4 Personal Care & Toiletries
6.2.5 Industrial
6.2.6 Household Chemicals
6.2.7 Paints & Coatings
6.2.8 Other End-use Industries
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Alpla Group
7.1.2 Berry Global Inc.
7.1.3 Manjushree Technopack Limited
7.1.4 JSK Plastic Industries
7.1.5 Saraswati Plastic Industries
7.1.6 AG Poly Packs Private Limited
7.1.7 Goldmine Polymers Industries
7.1.8 Neel Packaging
7.1.9 DV Plastics
7.2 Competitor Analysis - Emerging vs. Established Players
8. RECYCLING & SUSTAINABILITY LANDSCAPE
9. FUTURE OF THE MARKET
India Plastic Bottles Industry Segmentation
The scope of the study characterizes the Indian plastic bottles market based on the raw materials of the product, including PP, PE, PET, and other raw materials used across various end-user industries such as food, pharmaceuticals, beverages, cosmetics, and toiletries. The research also examines underlying growth influencers and significant industry vendors, all of which help support market estimates and growth rates throughout the study period. The market estimates and projections are based on base year factors and arrived at through top-down and bottom-up approaches.
The Indian plastic bottle market is segmented by resin (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), and other resins) and end-use industries (food, beverages (bottled water, carbonated soft drinks, alcoholic beverages, juices & energy drinks, and other beverages (powdered and dairy-based beverages)), pharmaceuticals, personal care and toiletries, household chemicals, paints & coatings, and other end-use industries). The report offers market forecasts and size in volume (tonnes) and value (USD) for all the above segments.
| By Resin | |
| Polyethylene (PE) | |
| Polyethylene Terephthalate (PET) | |
| Polypropylene (PP) | |
| Other Resins |
| By End-use Industries | |||||||
| Food | |||||||
| |||||||
| Pharmaceuticals | |||||||
| Personal Care & Toiletries | |||||||
| Industrial | |||||||
| Household Chemicals | |||||||
| Paints & Coatings | |||||||
| Other End-use Industries |
India Plastic Bottles Market Research FAQs
How big is the India Plastic Bottles Market?
The India Plastic Bottles Market size is expected to reach USD 1.29 billion in 2024 and grow at a CAGR of 1.9% to reach USD 1.42 billion by 2029.
What is the current India Plastic Bottles Market size?
In 2024, the India Plastic Bottles Market size is expected to reach USD 1.29 billion.
Who are the key players in India Plastic Bottles Market?
Alpla Group, Berry Global, Inc., Manjushree Technopack Limited, AG Poly Packs Private Limited. and JSK Plastic Industries are the major companies operating in the India Plastic Bottles Market.
What years does this India Plastic Bottles Market cover, and what was the market size in 2023?
In 2023, the India Plastic Bottles Market size was estimated at USD 1.27 billion. The report covers the India Plastic Bottles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Plastic Bottles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Plastic Bottles Industry Report
Statistics for the 2024 India Plastic Bottles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Plastic Bottles 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.
