India Rigid Plastic Packaging Market: Size and Growth Forecast – 8.01% CAGR by 2027

By | July 11, 2024

According to TechSci Research report, India Rigid PlasticPackaging Market By Region, Competition Forecast & Opportunities, 2027, the India rigid plastic packaging market is anticipated to witness a CAGR of 8.01% in the forecast period to reach USD18.02 billion by 2027. Rise in the manufacturing industries, technological innovations in packaging technology, and high demand for recyclable plastic are the key factors driving the growth of India rigid plastic packaging market. Also, the increased demand for small-size rigid packaging for materials like cosmetic products contributes to increased market growth.

Key Market Drivers

Manufacturing Industry Expansion

The surge in manufacturing activities in India is significantly contributing to the demand for rigid plastic packaging. Technological innovations are enhancing packaging efficiency, durability, and sustainability, further driving market growth.

Demand for Recyclable Plastics

With growing environmental concerns, there is an increased focus on recyclable plastics. Approximately 7,000 official and unorganized plastic recycling centers in India are crucial in reducing plastic waste. Market players are investing in optimizing plastic waste management and advancing research and development efforts to create sustainable packaging solutions.

Healthcare Industry Growth

The healthcare sector’s demand for rigid plastic packaging is expected to grow substantially due to high healthcare expenditure and the prevalence of chronic diseases. Rigid plastic packaging ensures the protection and quality of medicines, meeting stringent regulatory standards to maintain drug efficacy.

Browse over 35 market data Figures spread through 89 Pages and an in-depth TOC on “India Rigid Plastic Packaging Market”

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Market Segmentation

By Type

  1. Bottles & Jars: Expected to dominate with over 38% market share by 2027. They are widely used for packaging cosmetics, food products, personal care items, beverages, and pharmaceuticals.
  2. Rigid Bulk Products
  3. Trays & Tubs
  4. Others

By Raw Material

  1. PE (Polyethylene)
  2. PET (Polyethylene Terephthalate)
  3. PP (Polypropylene)
  4. PS (Polystyrene)
  5. EPS (Expanded Polystyrene)
  6. Others (PC, PL, PVC)

By End User

  1. Blow Molding: Leading the market with a 47.86% share in 2021. Known for its quick manufacturing process and high-volume outputs, blow molding uses lower pressure, reducing production costs.
  2. Injection Molding
  3. Rotomolding
  4. Others (Thermoforming, Extrusion)
Rigid Packaging from A to Z: Everything You Need to Know

Regional Insights

The West region is expected to dominate the market due to favorable government policies, skilled resources, and a supportive manufacturing ecosystem. The region’s competitive edge is bolstered by the high demand from the automotive, electronics, and paints & coatings sectors.

Major Market Players

  1. Time Technoplast Ltd.
  2. Manjushree Technopack Limited
  3. Mold-Tek Packaging Limited
  4. Hitech Corporation Limited
  5. Amcor Rigid Plastics India Private Limited
  6. Pearl Polymers Limited
  7. Parekhplast India Limited
  8. EPL Limited
  9. Sintex Plastics Technology Limited
  10. Conitex Sonoco India Private Limited

Emerging Trends

E-commerce Industry Growth

The rapid growth of the e-commerce sector, driven by high internet penetration and increased per capita income, is significantly impacting the rigid plastic packaging market. Online shopping convenience and customized experiences are pushing consumers towards e-commerce platforms, creating substantial opportunities for the packaging industry.

Sustainable Packaging Solutions

The advent of sustainable materials, bio-based plastics, and flexible packaging techniques is expected to propel market growth. Companies are focusing on eco-friendly solutions to meet consumer demand and comply with environmental regulations.

Challenges

Unorganized Sector

The vast unorganized sector poses a challenge to market growth. Ensuring standardized practices and quality control across this sector is crucial for the industry’s overall development.

Environmental Concerns

Environmental concerns related to plastic waste and its impact on the ecosystem are significant challenges. Addressing these concerns through innovation and sustainable practices is essential for long-term market growth.

The India Rigid Plastic Packaging Market is poised for substantial growth, driven by technological advancements, increasing demand from various industries, and a focus on sustainability. Strategic investments in research and development, coupled with government support and favorable policies, are expected to enhance market dynamics.

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“High internet penetration, the proliferation of smart devices, and increased per capita income of consumers are driving the growth of the e-commerce industry in India. Ease of shopping through online platforms and offering a customized shopping experience by market players is making the consumers buy things online. With the growth of the e-commerce industry, the plastic industry is witnessing significant growth opportunities in the next five years. The advent of sustainable materials, bio-based plastics, and flexible packaging techniques are expected to propel the India rigid plastic packaging market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Rigid Plastic Packaging Market – India Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Raw Material (PE, PET, PP, PS, EPS, and others (PC, PL, PVC)), By Type (Bottles & Jars, Rigid Bulk Products, Trays & Tubs, and others (Cups, Pots) etc), By End User (Blow Molding, Injection Molding, Rotomolding, and others (Thermoforming, Extrusion etc.)), By Region”, has evaluated the future growth potential of India rigid plastic packaging market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India rigid plastic packaging market.

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