INDIA PLASTIC PACKAGING MARKET

India plastic packaging market is projected to grow at a robust CAGR of 7.1% between 2024-2031 due to growing middle class and rising demand for consumer goods.

Major Drivers and Emerging Trends

India plastic packaging market size growth is mainly driven by rapid urbanization and growing middle class with its cities expected to house 600 million individuals or 40% of the population by 2036. The sharp rise in average consumer spending is further transforming rural markets and contributing to the expanding middle class that seeks premium products. India is home to 1.417 billion people as it is the most populated country. A major demographic strength is the substantial working age population which represents more than half of the total population. The demographic composition supports ongoing consumption growth which presents a long-term structural prospect for investors and businesses in India.

The plastic packaging demand is projected to grow in the coming years driven by a rising consumer base coupled with higher incomes and urbanization. The rise in incomes will result in greater spending on necessary and luxury items that results in a ripple effect which supports industries including retail or consumer goods. The growing and youthful population in India along with increasing income levels creates a solid foundation for sustained growth in various sectors including plastic packaging.

The surge in ecommerce coupled with greater digital access is further accelerating market growth. Ecommerce in the country has seen rapid growth over the past five years driven in part by the pandemic and the increase in smartphone usage which has provided many Indians with internet access. Another factor contributing to the growth is the increase in urban households turning to online shopping to simplify their busy routines. The surge in online shopping has driven the demand for packaging that is both light and strong that ensures products are protected during transit. Ecommerce companies favor plastic packaging particularly flexible formats like wraps and pouches for their efficiency and affordability.

India plastic packaging market has shifted from being a regional player to emerging as a global leader. India has steadily established itself as a leader in exporting plastic packaging driven by the growing global demand for innovative and flexible packaging solutions in recent years. The market has become increasingly competitive owing to innovation in recyclable material. There are also advanced techniques including blow and injection molding. Additionally, cost-effective producing capabilities in India makes it an ideal hub for plastic packaging production and export which enables businesses to cater to global demand at competitive prices.

Based on material, Polyethylene is extensively used in the plastic packaging industry. PE is commonly used for packaging applications including plastic bags and films. It is a lightweight thermoplastic resin known for its high resistance and minimal moisture absorption. LDPE is predominantly used to produce flexible and soft plastic bags which are often found in natural colors. These bags are in high demand because of their notable features including flexibility and transparency. These bags are not highly resistant to temperature changes but are notable for their excellent electrical and chemical resistance. However, they tend to crack under environmental stress.

Based on product, flexible packaging holds the largest share. Its low cost and versatility fuel its expansion which allows for various shapes and convenient closures such as zip locks. The shift towards more efficient flexible plastics including recycled options is expected to grow in the future. The demand for convenience and portability will also keep fueling the segment growth. Moreover, its increasing popularity can be attributed to its transport efficiency which helps reduce carbon footprint while enhancing their sustainability image.

Based on application, the food & beverages segment accounts for a significant market share driven by continuous innovations in the industry. Many consumers expect food products to be hygienic and attractive with a growing emphasis on convenient solutions especially for RTE meals. These meals which typically come in sealed trays like round containers are increasingly adopting sustainable materials. This move is in response to consumer preferences for environmentally friendly packaging which underscores a commitment to market trends while minimizing environmental impact. Plastic containers and trays are also prevalent in several industries including restaurants and cafeterias where they serve as food containers. Food service establishments such as restaurants use them for delivery or takeout to ensure food is protected and presented attractively. Furthermore, bakeries or cafes also use these trays to package and exhibit their products which help to increase convenience for customers while boosting product appeal.

Top Market Players

Several major companies in the market include Amcor Group, Uflex Limited, Aptar Group, among others.

Key Developments

• • In 2024, Indian companies have partnered with SIBUR and largest plastics manufacturing company in Russia to lead efforts in recovering plastic waste.
  • In 2024, Manjushree Technopack Ltd finalized agreements to purchase the plastic packaging division of Oricon Enterprises. The acquisition involved Oriental Containers which is a company known for producing plastic closures and containers for the beverage sector.

Segments covered in the Report:

The India Plastic Packaging Market has been segmented on the basis of Material, Product, and Application. Based on the Material, the market is segmented into Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene, Expanded Polystyrene, Polyvinyl Chloride, Bio-based Plastics, and Others. Based on the Product, the market is segmented into Rigid and Flexible. The Rigid segment is further segmented into Bottles & Jars, Cans, Trays & Containers, Caps & Closures, and Others. The Flexible segment is further segmented into Wraps & Films, Bags, Pouches, and Others. Based on the Application, the market is segmented into Food & Beverages, Industrial Packaging, Pharmaceuticals, Personal & Household Care, and Others.

Market Segmentation

India Plastic Packaging Market by Material

• • Polyethylene (PE)
  • Polyethylene Terephthalate
  • Polypropylene
  • Polystyrene
  • Expanded Polystyrene
  • Polyvinyl Chloride
  • Bio-based plastics
  • Others

India Plastic Packaging Market by Product

• • Rigid
    • Bottles & Jars
    • Cans
    • Trays & Containers
    • Caps & Closures
    • Others
  • Flexible
    • Wraps & Films
    • Bags
    • Pouches
    • Others

India Plastic Packaging Market by Application

• • Food & Beverages
  • Industrial Packaging
  • Pharmaceuticals
  • Personal & Household Care
  • Others

India Plastic Packaging Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Amcor Group
  • Uflex Limited
  • Aptar Group