India Rigid Plastic Packaging Market

• Growth in India's Packaging Sector to Boost the Market Growth

India's packaging industry has experienced constant growth throughout the years, becoming one of the nation's primary economic sectors. The industry is expected to grow by 22% to 25% a year, according to the Packaging Industry Association of India (PIAI). Some of the other important sectors that have long been in charge of the nation's packaging industry's growth are pharmaceuticals, the food processing sector, and fast-moving consumer goods (FMCG). In recent years, there has been a boom in the Indian packaging industry due to the emergence of e-commerce as a new consumer.

Numerous parcels are delivered across the country every day as a result of the increasing usage of e-commerce platforms. This has increased demand even more.

The growing need for rigid plastic packaging in the food & beverage industry is driving growth in the India Rigid Plastic Packaging Market. Food contamination during storage poses a significant risk. Two examples of factors that affect the nutrients in food are temperature and moisture content. By using the right packaging materials, it can be partially avoided. It also lengthens the shelf life of the food product. Companies in the food & beverage sector have access to a range of suppliers for rigid plastic packaging. Customers can easily open and reseal these containers due to the included film lidding option.

Additionally, they include side ventilation for easier moisture management and cooling. Thus, driving the rigid plastic packaging market revenue. In February 2024, Pyramid Technoplast Ltd has signed agreement papers for 10 acres of land in Maharashtra, India. Such measures were taken in order to improve polymer drums production, intermediate bulk containers of type IBCs, and MS drums. This expansion will enable the company to not only diversify its business in other states but will also provide cost-competitive services in the region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the rigid plastic packaging market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the rigid plastic packaging industry must offer cost-effective items.

Major players in the rigid plastic packaging market are attempting to increase market demand by investing in research and development operations, including Pearl Polymers Limited, Time Technoplast Ltd., Sintex Plastics Technology Limited, Mold-Tek Packaging Limited, Hitech Corporation Limited, Manjushree Technopack Limited, Parekhplast India Limited, Amcor Rigid Plastics India Private Limited, EPL Limited, and other prominent players.