India Rigid Plastic Packaging Market to Grow at a CAGR of 8.01% through 2027
Rising trend for moisture resistance, light weight packaging
is some of the factors influencing to the demand of rigid plastic packaging
market through 2027F.
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.
Growing concerns about
plastic waste in the country are bolstering the need to find techniques to
lower waste generated by plastics. Around 7000 official and unorganized plastic
recycling centers in India are playing a significant role in minimizing plastic
waste. Market players are looking for solutions to optimize plastic waste
during the production process and investing substantial amounts in research and
development activities.
The demand for rigid
plastic packaging in the healthcare industry is expected to witness a massive
growth in the forecast period due to the high healthcare expenditure and
increase in the prevalence of chronic diseases among individuals. Rigid plastic
packaging is used to secure the medicines from getting contaminated and thereby
helps in maintaining the quality of medicines. Stringent regulatory standards
set up by leading authorities to preserve the effectiveness of drugs are
expected to boost the demand for rigid plastic packaging among pharmaceutical
market players.
However, the presence
of a vast unorganized sector and environmental concerns may restrain India
rigid plastic packaging market's growth in the forecast period.
Browse over 35
market data Figures spread through 89 Pages and an in-depth TOC on "India
Rigid Plastic Packaging Market"
https://www.techsciresearch.com/report/india-rigid-plastic-packaging-market/3885.html
The India rigid plastic
packaging market is segmented into raw material, type, production process, end
user, company, and regional distribution.
Based on type, the
market is divided into bottles & jars, rigid bulk products, trays &
tubs, and others. Bottles & jars are expected to dominate the market and
are expected to hold a market share of over 38% in 2027. The majority of
bottles & jars are made up of PET, PE, PP, HDPE, PS, and PVC. Rigid plastic
bottles are used for packing various materials such as cosmetics, food
products, personal care products, carbonated soft drinks, pharmaceutical
products. Increasing population, rapid urbanization, and growing expenditure
capacity of consumers play a crucial role in fueling the market growth. The
flourishing retail industry and the high demand for beverages and home care
products are expected to accelerate the market growth in the next five years.
Based on end user, the
market is segmented into blow molding, injection molding, rotomolding, and
others. Blow molding is leading the market in 2021, registering a market share
of 47.86%, and is expected to maintain its dominance throughout the forecast
period. Blow molding supports a quick manufacturing process and high-volume
outputs. It uses a relatively lower pressure during the production process that
reduces the expenses during the production process; therefore, it is expected
to witness a massive growth in the next five years.
Major market players
operating in the India rigid plastic packaging market are:
·
Time Technoplast Ltd.
·
Manjushree Technopack Limited
·
Mold-Tek Packaging Limited
·
Hitech Corporation Limited
·
Amcor Rigid Plastics India Private Limited
·
Pearl Polymers Limited
·
Parekhplast India Limited
·
EPL Limited
·
Sintex Plastics Technology Limited
·
Conitex Sonoco India Private Limited
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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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