Market Size of Indonesia Rigid Plastic Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.74 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Indonesia Rigid Plastic Packaging Market Analysis
The Indonesian rigid plastic packaging market will register a CAGR of 4.74% over the forecast period. The Indonesian packaging business now operates differently as a result of plastic packaging. Although Indonesia's downstream rigid plastic sector is highly developed, its reliance on imported raw materials has limited its growth potential.
- Plastic packaging is more popular with consumers than other products because plastic materials are lightweight and easy to handle. Even large manufacturers prefer plastic packaging solutions due to their low production costs. In addition, the emergence of polymers such as polyethylene terephthalate (PET) and high-density polyethylene (HDPE) expanded the applications of PET bottles. The market, demand for PET bottles is increasing in various markets.
- In Indonesia, the demand for rigid plastic packaging is still on the rise as major environmental issues are brought up. Solutions for rigid plastic packaging are used in a variety of sectors, including industrial, retail, and healthcare. Due to its excellent barrier qualities, lengthy shelf life, and durability, plastic packaging has seen substantial growth in the healthcare sector.
- Various manufacturers prefer rigid plastic packaging in the country as it is a cost-effective solution to protect food and beverages during delivery from farm to table and preserve food over longer durations. These packages also support innovations through different forms and shapes and are lighter in weight.
- However, changing regulatory standards, fluctuating raw material costs, increasing waste volumes, and rising environmental waste regulations have expected to hinder the market growth during the forecast period. This will enable companies operating in this market segment to develop new products that are potentially disruptive and reduce the current risks in the market.
- The outbreak of COVID-19 led to lockdowns and closures of businesses and supplies of raw materials across the country. But the demand for medicines and other essential items were at an all-time high. The shortage of packaging materials available to pack them and their subsequent shipment caused significant disruption to the supply chain for COVID-19 patients. These included several anesthetics, antibiotics, muscle relaxants, and off-label drugs. This led to the supply of plastic bottles to pharmaceutical companies.
