India Rigid Plastic Packaging Market Overview
India Rigid Plastic Packaging Market Size was valued at USD 8 Billion in 2022. The rigid plastic packaging industry is projected to grow from USD 8.8 Billion in 2023 to USD 19.01 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.10% during the forecast period (2024 - 2032). Some of the key market drivers driving the market are the growing customer desire for product safety and extended shelf life, the growing need for sustainable packaging solutions, and various breakthroughs in manufacturing technology.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Rigid Plastic Packaging Market Trends
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Growth in India's Packaging Sector to Boost the Market Growth
India's packaging industry has experienced constant growth throughout the years, becoming one of the nation's primary economic sectors. The industry is expected to grow by 22% to 25% a year, according to the Packaging Industry Association of India (PIAI). Some of the other important sectors that have long been in charge of the nation's packaging industry's growth are pharmaceuticals, the food processing sector, and fast-moving consumer goods (FMCG). In recent years, there has been a boom in the Indian packaging industry due to the emergence of e-commerce as a new consumer. Numerous parcels are delivered across the country every day as a result of the increasing usage of e-commerce platforms. This has increased demand even more.
The growing need for rigid plastic packaging in the food & beverage industry is driving growth in the India Rigid Plastic Packaging Market. Food contamination during storage poses a significant risk. Two examples of factors that affect the nutrients in food are temperature and moisture content. By using the right packaging materials, it can be partially avoided. It also lengthens the shelf life of the food product. Companies in the food & beverage sector have access to a range of suppliers for rigid plastic packaging. Customers can easily open and reseal these containers due to the included film lidding option. Additionally, they include side ventilation for easier moisture management and cooling. Thus, driving the rigid plastic packaging market revenue.
In February 2024, Pyramid Technoplast Ltd has signed agreement papers for 10 acres of land in Maharashtra, India. Such measures were taken in order to improve polymer drums production, intermediate bulk containers of type IBCs, and MS drums. This expansion will enable the company to not only diversify its business in other states but will also provide cost-competitive services in the region.
Rigid Plastic Packaging Market Segment Insights
Rigid Plastic Packaging Material Insights
The India Rigid Plastic Packaging market segmentation, based on material, includes PE, PET, PS, PP, PVC, EPS, Bioplastics, and Others. The PE segment dominated the market mostly. Heat sealing and vapor resistance are two features of polyethylene, a leak-proof polymer. It costs less and is quite lightweight. The segment's growth is further aided by other advantages such as the high durability and ease of recycling.
Rigid Plastic Packaging Production Process Insights
The India Rigid Plastic Packaging market segmentation, based on production process, includes Extrusion, Injection Molding, Blow Molding, Thermoforming, and Others. The injection molding category generated the most income. The need for injection molding machines to produce different packaging and processing components, like food and beverage containers, processing equipment components, conveyor system components, and others, is growing in the food and beverage industry, which is one of the main factors fueling the market's expansion. Furthermore, market expansion is expected to be fueled by the rise of the automotive industry.
Figure 1: India Rigid Plastic Packaging Market, by Production Process, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Rigid Plastic Packaging Application Insights
The India Rigid Plastic Packaging market segmentation, based on application, includes Bottles & Jars, Rigid Bulk Products, Trays, Tubs, Cups 7 POTS, Caps & Closures, and Others. The bottles & jars category generated the most income. Bottles and jars are used in the expanding food and beverage, pharmaceutical, building and construction, and automotive industries, among many other end-use sectors. To top it off, plastic jars and bottles are lightweight, incredibly durable, and can take on any shape. Plastic bottles' ease of recycling and reuse is fueling this market's expansion.
Rigid Plastic Packaging End User Insights
The India Rigid Plastic Packaging market segmentation, based on end user, includes Food, Beverage, Pharmaceuticals, Personal Care & Cosmetics, Homecare, Industrial, and Others. The food category generated the most income. Innovation in packaging is crucial for product manufacturers and retailers to stand out from the competition in the food sector and to market and distinguish their brands. The food industries have come to rely more on hard plastic packaging since it prolongs the shelf life of packaged meals. Rigid materials are utilized for food packing.
Rigid Plastic Packaging Country Insights
Growing numbers of people, rising incomes, and evolving lifestyles are some of the major drivers propelling the rigid plastic packaging sector in India. Increased demand for the rigid plastic packaging sector is being driven by end-user segments' growth potential. Due to its strong resistance to impact, high-impact PS is a kind of plastic that is frequently employed in toys and consumer devices. For particular end-use applications, such as food trays that need to have environmental solid stress crack resistance, several grades of HIPS have been created with exceptional qualities. Over the projection period, the demand for polystyrene is expected to rise significantly due to the government's Make in India initiative and its noteworthy contributions to the growth of the nation's ACE (appliances and consumer electronics) industry. Additionally, as the number of single-person households in India rises, there will likely be a greater need for rigid food packaging made of PE-based films to meet the growing demand for convenience goods like pre-prepared fruits and vegetables. In June 2022, the Coca-Cola Company announced that, within the next two to three years, its India business aimed to achieve 100% Recovery and Recycling of Post-consumer Packaging, mainly made up of bottles and cans. The corporation has pledged to collect and recycle all bottles as part of its global effort, "World Without Waste," and to be able to sell them by 2030.
Rigid Plastic Packaging Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the rigid plastic packaging market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the rigid plastic packaging industry must offer cost-effective items.
Major players in the rigid plastic packaging market are attempting to increase market demand by investing in research and development operations, including Pearl Polymers Limited, Time Technoplast Ltd., Sintex Plastics Technology Limited, Mold-Tek Packaging Limited, Hitech Corporation Limited, Manjushree Technopack Limited, Parekhplast India Limited, Amcor Rigid Plastics India Private Limited, EPL Limited, and other prominent players.
Key Companies in the rigid plastic packaging market include
Rigid Plastic Packaging Industry Developments
In October 2022, cracking the techno-economic challenges of converting the waste into packaging materials through a collaborative endeavor was the objective of the collaboration of Manjushree Technopack Ltd. and Indian Institute of Science. These groups are also working towards developing a new elastomeric material for all plastic pumps and triggers which will be fully recyclable as well as developing enhanced PET bottle tops made of 100% recyclable plastic by incorporating several features of improvement.
In August 2022, the capping and closure manufacturer, Hitesh Plastics, based in, was purchased inurchased22, and the capping and closure manufacturer, Hitesh Plastics, was purchased by Advent International-funded Manjushree Technopack. As per the clause, MTL was to buy the commercial and manufacturing assets of Hitesh Plastics. The company is looking forward to strengthening its ties with several leading beverage companies in the country and positioning itself as the complete source of rigid plastic packaging.
In January 2024, you’ll find your next plastic bottle fully recycled. Thanks to Coca-Cola India, alongside the retail arm of Reliance Industries Limited (RIL), Reliance Retail, and their new campaign aimed at PET collection and recycling.
In December 2023, Nayara Energy released a statement regarding the commissioning of their second PP plant in the first half of 2024 in India.
In January 2024, the rigid plastic packaging capacity of Mold-Tek Packaging Company was increased with the opening of new production units in Haryana, Tamil Nadu, and Telangana. Also, the company purchased land in Mahad, Maharashtra, for a manufacturing plant with a capacity of 1,500 tonnes. This plant will manufacture pails for Grasim Industries and is expected to be operational by October. These four units once in operation will increase the overall production capacity to 54,000 tonnes by the end of the fiscal year 2024-25.
Rigid Plastic Packaging Market Segmentation
Rigid Plastic Packaging Material Outlook
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PE
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PET
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PS
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PP
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PVC
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EPS
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Bioplastics
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Others
Rigid Plastic Packaging Production Process Outlook
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Extrusion
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Injection Molding
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Blow Molding
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Thermoforming
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Other
Rigid Plastic Packaging Application Outlook
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Bottles & Jars
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Rigid Bulk Products
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Trays
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Tubs
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Cups 7 POTS
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Caps & Closures
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Others
Rigid Plastic Packaging End User Outlook
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 8 Billion |
| Market Size 2023 |
USD 8.8 Billion |
| Market Size 2032 |
USD 19.01 Billion |
| Compound Annual Growth Rate (CAGR) |
10.10% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2019- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Material, Production Process, Application, End User, and Region |
| Countries Covered |
India |
| Key Companies Profiled |
Pearl Polymers Limited, Time Technoplast Ltd., Sintex Plastics Technology Limited, Mold-Tek Packaging Limited, Hitech Corporation Limited, Manjushree Technopack Limited, Parekhplast India Limited, Amcor Rigid Plastics India Private Limited, EPL Limited |
| Key Market Opportunities |
Increased E-commerce Sector's Sale |
| Key Market Dynamics |
Rising Consumer Goods Consumption and Improved Recycling Rates High Demand from the Packaging Industry for Food and Beverages |
Frequently Asked Questions (FAQ) :
The India Rigid Plastic Packaging market size was valued at USD 8.8 Billion in 2023.
The market is projected to grow at a CAGR of 10.10% during the forecast period 2024-2032.
The key players in the market are Pearl Polymers Limited, Time Technoplast Ltd., Sintex Plastics Technology Limited, Mold-Tek Packaging Limited, Hitech Corporation Limited, Manjushree Technopack Limited, Parekhplast India Limited, Amcor Rigid Plastics India Private Limited, EPL Limited, among others.
The bottles & jars category dominated the market in 2023.
The food category had the largest share of the market.
