India Rigid Plastic Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 4.98 Million tonnes |
| Market Volume (2029) | 6.61 Million tonnes |
| CAGR (2024 - 2029) | 5.83 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Rigid Plastic Packaging Market Analysis
The India Rigid Plastic Packaging Market size in terms of shipment volume is expected to grow from 4.98 Million tonnes in 2024 to 6.61 Million tonnes by 2029, at a CAGR of 5.83% during the forecast period (2024-2029).
The Indian rigid plastic packaging market is anticipated to witness significant growth primarily due to the increasing demand for rigid plastic goods across various end-user industries, including food and beverages and personal care products. Essential home products, including trays, shallow plates, and rigid plastic containers, also contribute to the growth of the market in India.
- Rigid plastic packaging is widely used in the country because of its affordability, toughness, and lightweight nature. 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.
- The number of manufacturers in the rigid plastic packaging market is expanding. 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 customer attention. These market players in India use various strategies to retain their position.
- The market for rigid plastic packaging is expanding in India with the rising food and beverages industry. The demand for packaged meals in the F&B and healthcare industries 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 industry.
- Polypropylene (PP) is more cost-effective than other plastics with comparable properties. Its affordability, combined with its high processability and widespread availability, positions PP as a competitive alternative to other plastics. Consequently, PP is gaining traction among manufacturers of bottles and containers in the region.
- Given its broad applications in markets like packaging, the demand for polypropylene (PP) is poised to rise. This would encourage several market players to expand their foothold in the country. In December 2023, Nayara Energy announced that it would launch its second PP manufacturing plant in India in the first half of 2024. As per the press release, India, with a total consumption of 6.4 million tonnes, imported around 1.6 million tonnes of polypropylene, or around 25% of its consumption.
- 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 initiated. Compliance with regulations is crucial since even the tiniest packaging error might harm the goods. Additionally, it may have a negative financial impact on the manufacturer.
India Rigid Plastic Packaging Market Trends
Polyethylene terephthalate (PET) is Expected to Record Robust Growth
- In the past few years, there has been huge demand for PET across the country. PET’s popularity can be attributed to its advantages, such as providing reusable packaging for mineral water and other beverages, which facilitates a more cost-effective transportation process. PET, known for its clarity and natural CO2 barrier properties, boasts a versatility that allows it to be effortlessly molded into bottles or any desired shape. Manufacturers can enhance PET's properties by incorporating colorants, UV blockers, oxygen barriers/scavengers, and other additives, tailoring bottles to meet specific brand requirements.
- Recycling PET not only saves costs but also offers significant environmental advantages. Producing bottles from recycled PET (rPET) preforms consumes less energy than virgin PET, leading to cost savings and a reduced carbon footprint. This circular economy approach diminishes dependence on raw materials and reduces waste, resonating with the sustainability goals of numerous regional businesses and governments.
- Several big and small players across the country are launching initiatives to bolster the demand for PET. For instance, in January 2024, Coca-Cola India, in collaboration with Reliance Retail, the retail division of the Indian conglomerate Reliance Industries Limited (RIL), unveiled a fresh initiative focused on the collection and recycling of PET materials.
- PET bottles dominate the water packaging market, outpacing both glass and traditional plastic bottles, owing to their durability and recyclability. The trend underscores the growing preference for lightweight, durable, and cost-effective PET in water packaging. A report from the International Bottled Water Association highlighted that approximately 97% of bottled water containers are plastic, with nearly 80% being PET.
- India, boasting the highest population in the region and a rapidly developing outlook, witnessed a significant surge in bottled water consumption. The Indian Railway Catering and Tourism Corporation Limited (IRCTC) introduced its bottled water brand, "Rail Neer," primarily sold on trains and at railway stations. With the rising demand for bottled water and the expanding railway sector, IRCTC ramped up production, increasing from 75.30 million bottles in 2021 to 357.70 million bottles in 2023. This trend of increase in consumption is expected to continue during the forecast period, consequently bolstering the demand for PET bottles.
The Food Segment is Expected to Hold a Significant Market Share
- The food packaging industry in India is among the major ones. It is expanding due to the country's response to changing lifestyles and demographics, the accessibility of a cheap labor force, the unrestricted availability of raw materials, the expansion of export opportunities, and government initiatives to promote the growth of the food packaging industry. The pandemic, the increase in disposable income, the increased need for discretionary purchases of branded goods, mainly processed food products, a revitalized retail sector, and state sponsorship contributed to the expansion of the food packaging industry in the country.
- Packaged foods are becoming increasingly popular in India with the increased number of working women and a shift toward on-the-go consumption due to hectic schedules. As a result, the use of creative and environmentally friendly packaging in the food industry is predicted to rise, which may fuel the demand for rigid plastic food containers over the coming years.
- According to Bikaji and Retailers Association of India, the market value of packaged food in India is expected to increase to approximately INR 5,798 billion (USD 69.05 billion) by 2026. With the increasing consumption of packaged food in the country, the utilization of plastic for packaging has surged. This growth is driven by factors such as urbanization, changing consumer lifestyles, and the expansion of the retail sector.
- Retail sales, particularly in supermarkets and convenience stores, also led to a surge in demand for processed food in plastic containers. The visibility and accessibility of these products in plastic packaging contribute to increased consumer convenience and impulse purchases, driving further growth in the rigid plastic packaging market across the region.
- Zomato and Swiggy are among the prominent online food delivery apps with significant shares in the Indian online food delivery market. With rising acceptance and innovation of packaging, companies like Zomato, Swiggy, and Dunzo are exploring the online food delivery business. Indian food delivery firms lose money on most orders due to high delivery costs and discounts. Hence, packaging material is one of the critical aspects considered economically for the purpose of packaging hot food.
India Rigid Plastic Packaging Industry Overview
The rigid plastic packaging market in India is fragmented. Numerous manufacturing enterprises operate in the country, leading to a competitive market. Market players are trying to maintain dominance by investing in R&D, incorporating new technology into their products, and delivering improved consumer products. Strategic alliances, agreements, mergers, and partnerships are a few of the strategies employed.
- January 2024: Mold-Tek Packaging inaugurated new manufacturing units in Haryana, Tamil Nadu, and Telangana to bolster its rigid plastic packaging capacity. Additionally, the company secured land in Mahad, Maharashtra, for a 1,500-tonne manufacturing plant. This plant is designated to supply pails to Grasim Industries and is slated for completion by October. Once operational, these four units will elevate the total manufacturing capacity to 54,000 tonnes by the end of the 2024-25 fiscal year.
- February 2024: Pyramid Technoplast Ltd signed a memorandum of understanding (MoU) to acquire 10 acres of land in Maharashtra, India. This strategic move was intended to boost production capacities for polymer drums, intermediate bulk containers (IBCs), and MS drums. The expansion not only diversifies the company's operations into new states but also promises cost-effective services for the region.
India Rigid Plastic Packaging Market Leaders
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EPL Limited
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Time Technoplast Ltd.
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Amcor Rigid Plastics
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Manjushree Technopack Ltd.
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Mold-Tek Packaging Ltd
*Disclaimer: Major Players sorted in no particular order
India Rigid Plastic Packaging Market News
- April 2024: Manjushree Technopack Limited (MTL), the rigid plastics packaging manufacturer in India, finalized agreements to acquire the plastics packaging division of Oricon Enterprises Limited. Oriental Containers, a key player in India, specializes in manufacturing plastic caps, closures, and preforms, which are intermediate forms of PET bottles predominantly used in beverages. With this acquisition, MTL is set to double its market share in the caps and closures segment, positioning it as the market leader with an impressive installed capacity of around 15 billion pieces annually.
- June 2023: Coca-Cola India introduced Kinley bottled water, packaged in bottles crafted entirely from 100% recycled polyethylene terephthalate (rPET). Each bottle prominently features a label declaring, “100 percent made from recycled food-grade plastic.” This initiative aims to significantly diminish plastic waste in the environment.
India Rigid Plastic Packaging 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
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Competitive Rivalry
4.4 Trade Scenario
4.4.1 Trade Analysis (Top 5 Import-Export Countries)
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Demand for Primary Packaging Driven by Unit Sales
5.1.2 Rising E-Commerce Sales is Expected to Drive the Packaging Market
5.2 Market Restraints
5.2.1 Stringent Laws & Regulations Pertaining to Plastic Industries
5.2.2 Competition From Alternative Packaging Materials
6. MARKET SEGMENTATION
6.1 By Resin Type
6.1.1 Polyethylene (PE)
6.1.1.1 Low-Density Polyethylene (LDPE) & Linear Low-Density Polyethylene (LLDPE)
6.1.1.2 High Density Polyethylene (HDPE)
6.1.2 Polyethylene terephthalate (PET)
6.1.3 Polypropylene (PP)
6.1.4 Polystyrene (PS) and Expanded polystyrene (EPS
6.1.5 Polyvinyl chloride (PVC)
6.1.6 Other Resin Types
6.2 By Product Type
6.2.1 Bottles and Jars
6.2.2 Trays and Containers
6.2.3 Caps and Closures
6.2.4 Intermediate Bulk Containers (IBCs)
6.2.5 Drums
6.2.6 Pallets
6.2.7 Other Product Types
6.3 By End-use Industries
6.3.1 Food**
6.3.1.1 Candy & Confectionery
6.3.1.2 Frozen Foods
6.3.1.3 Fresh Produce
6.3.1.4 Dairy Products
6.3.1.5 Dry Foods
6.3.1.6 Meat, Poultry, and Seafood
6.3.1.7 Pet Food
6.3.1.8 Other Food Products
6.3.2 Foodservice
6.3.3 Beverage
6.3.4 Healthcare
6.3.5 Cosmetics and Personal Care
6.3.6 Industrial (Chemical, Agriculture, and Oil & Lubricants, among Others)
6.3.7 Building and Construction
6.3.8 Automotive
6.3.9 Other End User Industries
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Pyramid Technoplast Pvt. Ltd
7.1.2 Mold-Tek Packaging Ltd
7.1.3 Chemco Group
7.1.4 Manjushree Technopack Ltd
7.1.5 EPL Limited
7.1.6 Parekhplast India Limited
7.1.7 Pearlpet (Pearl Polymers Limited)
7.1.8 Regent Plast Pvt. Ltd
7.1.9 Unity Poly Barrels Private Limited
7.1.10 Hitech Corporation (Hitech Group)
7.1.11 Supple Pack (India) Private Limited
7.2 Heat Map Analysis
7.3 Competitor Analysis - Emerging vs. Established Players
8. RECYCLING & SUSTAINABILITY LANDSCAPE
9. FUTURE OUTLOOK
India Rigid Plastic Packaging Industry Segmentation
The study on India’s rigid plastic packaging market tracks the demand for rigid plastic packaging products that cater to the food, foodservice, beverages, healthcare, personal care, cosmetics, building and construction, automotive, and other end-user industries. Rigid plastics can be of different grades and have different material combinations based on the type of product being packed, like polyethylene, polypropylene, polyvinyl chloride, polyethylene terephthalate, and bio-plastics.
The Indian rigid plastic packaging market is segmented by resin type (polyethylene (PE) (low-density polyethylene (LDPE) & linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE)), polyethylene terephthalate (PET), polypropylene (PP), polystyrene (PS) and expanded polystyrene (EPS), polyvinyl chloride (PVC), and other resin types), product type (bottles and jars, trays and containers, caps and closures, intermediate bulk containers (IBCs), drums, pallets, and other product types), and end-user industry (food (candy & confectionery, frozen foods, fresh produce, dairy products, dry foods, meat, poultry, and seafood, pet food, and other food products), foodservice, beverages, healthcare, cosmetics and personal care, industrial, building and construction, automotive, and other end-user industries). The market sizes and forecasts are provided in terms of volume (tonnes) for all the above segments.
| By Resin Type | ||||
| ||||
| Polyethylene terephthalate (PET) | ||||
| Polypropylene (PP) | ||||
| Polystyrene (PS) and Expanded polystyrene (EPS | ||||
| Polyvinyl chloride (PVC) | ||||
| Other Resin Types |
| By Product Type | |
| Bottles and Jars | |
| Trays and Containers | |
| Caps and Closures | |
| Intermediate Bulk Containers (IBCs) | |
| Drums | |
| Pallets | |
| Other Product Types |
| By End-use Industries | ||||||||||
| ||||||||||
| Foodservice | ||||||||||
| Beverage | ||||||||||
| Healthcare | ||||||||||
| Cosmetics and Personal Care | ||||||||||
| Industrial (Chemical, Agriculture, and Oil & Lubricants, among Others) | ||||||||||
| Building and Construction | ||||||||||
| Automotive | ||||||||||
| Other End User Industries |
India Rigid Plastic Packaging Market Research FAQs
How big is the India Rigid Plastic Packaging Market?
The India Rigid Plastic Packaging Market size is expected to reach 4.98 million tonnes in 2024 and grow at a CAGR of 5.83% to reach 6.61 million tonnes by 2029.
What is the current India Rigid Plastic Packaging Market size?
In 2024, the India Rigid Plastic Packaging Market size is expected to reach 4.98 million tonnes.
Who are the key players in India Rigid Plastic Packaging Market?
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.
What years does this India Rigid Plastic Packaging Market cover, and what was the market size in 2023?
In 2023, the India Rigid Plastic Packaging Market size was estimated at 4.69 million tonnes. The report covers the India Rigid Plastic Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Rigid Plastic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Rigid Plastic Packaging Industry Report
The India Rigid Plastic Packaging Market Report provides a comprehensive analysis segmented by resin type, including Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyvinyl Chloride (PVC), and other resin types. It also categorizes by product types such as bottles and jars, trays and containers, caps and closures, intermediate bulk containers (IBCs), drums, pallets, and other product types. The report further segments the market by end-user industries, covering food, foodservice, beverages, healthcare, cosmetics and personal care, industrial, building and construction, automotive, and other end-user industries.
The market size and market share are discussed in detail, providing insights into the market growth and market trends. The market report includes a market analysis and industry report, highlighting the industry outlook and industry trends. The global market perspective is also considered, offering a market forecast and industry overview. Market research and industry analysis are critical components of the report, providing a thorough understanding of the market leaders and market segmentation.
The report includes industry information and industry statistics, giving a clear picture of the market value and market predictions. It offers a market review and market data, essential for understanding the market outlook and market segmentation. The report example and report PDF are available for download, offering detailed insights into the research companies and industry sales.
The industry reports and industry research provide a comprehensive view of the industry size and industry trends. The market forecast and market growth are discussed, highlighting the growth rate and market outlook. The market overview and market predictions offer valuable insights into the future of the industry. The report includes detailed market segmentation and market value analysis, essential for understanding the market dynamics.
In summary, this report is a valuable resource for understanding the India Rigid Plastic Packaging Market, offering detailed industry information, industry statistics, and industry outlook. The market data and market review provide a clear picture of the market trends and market growth. The report is essential for industry leaders and research companies, offering a comprehensive analysis of the market value and market segmentation.
India Rigid Plastic Packaging Market Report Snapshots
