Press Release

Growing Food & Beverages Industry to Drive India Rigid Plastic Packaging Market

High demand from various end use industries like food & beverage, healthcare, automobile, etc., to drive India rigid plastic packaging market through 2024

According to TechSci Research report, India Rigid Plastic Packaging Market By Raw Material By Type, By Production Process, By End Use, Competition Forecast & Opportunities, 2024’’, India rigid plastic packaging market is forecast to reach $ 14.4 billion by 2024, owing to the accelerating demand from food and beverage industry and rising consumer preference for convenient packaging. Rigid plastic packaging is majorly used in food & beverage industry to increase the shelf life of food product and maintain hygiene. Healthcare industry also generates a fair share of demand for rigid plastic packaging for various medical devices, syrup bottles, caps, etc.  Rigid plastic packaging has properties such as moisture resistance, tamper proof, light and chemical resistance, etc., owing to which it becomes a preferable choice in healthcare sector. Regionally, western region of India is the major demand generator for rigid plastic packaging owing to rapid expansion of end users in states such as Maharashtra and Gujarat. The region is hub for chemical, lubricants and pharmaceutical industries, which generate huge demand for rigid plastic packaging.

Browse 38 market data Figures spread through 90 Pages and an in-depth TOC on " India Rigid Plastic Packaging Market"

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Polyethylene (PE) accounts for the majority share in India rigid plastic packaging owing to the lowest softening point of the basic packaging plastics which results in lower processing energy costs, thereby making it a more cost-effective packaging solution as compared to PET, bioplastics and other raw materials. Moreover, PE has greater heat stability and toughness, thus it is extensively used to make food containers, rigid bulk products, etc. Among production processes, blow molding technique has a substantial share in India rigid plastic packaging market as it is the most widely used process to make PET bottles, cups, jars, etc., and allows quick manufacturing and high volume outputs.

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“Many companies are expanding their production facilities across India. For instance, Manjushree Technopack inaugurated a new green field facility in Guwahati, Assam, to expand its rigid plastic market in Northeast India. The expansion increased the company’s combined capacity to 155,000 tons. Additionally, Hi-Tech Corporation inaugurated a new manufacturing facility in Rohtak, Haryana, to boost its production and match the growing demand for rigid plastic packaging. The company also announced setting up of a new manufacturing facility in Mysuru, Karnataka, and Vishakhapatnam, Andhra Pradesh scheduled to be completed by 2020. Such developments would steer growth in India rigid plastic packaging market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 

India Rigid Plastic Packaging Market By Raw Material, By Type, By Production Process, By End Use, Competition Forecast & Opportunities, 2024 has evaluated the future growth potential of rigid plastic packaging market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in India rigid plastic packaging market.

 

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