India Rigid Plastic Packaging Market Size

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.