Rigid Plastic Packaging Industry In India

During the last three decades mold tek has been the leader innovator and torch bearer in introducing many world class packaging products in india such as high quality airtight and pilfer proof pails for the paint.

Rigid plastic packaging industry in india. Wherein the flexible packaging is expected to grow at 25 p a. India rigid plastic packaging market stood at around 7 7 billion in 2018 and is projected to grow at cagr of 10 8 to reach 14 4 billion by 2024. The market for rigid plastic packaging in india has grown well in the recent years and stood at about inr 184 billion equating to a volume of 1 6 million tonnes in 2015 16. The packaging industry in india is expected to reach 73 billion in 2020 from 32 billion in fy 15 according to a report prepared by ficci and tata strategic management group tsmg on plastic industry titled plastic packaging.

And rigid packaging to grow at 15 p a. Global rigid plastic packaging consumption is projected at 58 6 million tonnes in 2019 and is forecast to grow during 2019 2024 at an annual rate of 3 5 to 69 8 million tonnes. This detailed and meticulously composed market research report on the rigid and flexible plastic packaging market discussed the various market growth tactics and techniques that are leveraged by industry players to make maximum profits in the rigid and flexible plastic packaging market even amidst pandemic situation such as covid 19. Plastic packaging industry outlook usd bn cagr 18 16 15 3 3 3 12 1 fy10 31 7 72 6 8 5 23 3 46 8 25 9 fy15 fy20 rigid flexible.

This is mainly due to the emerging economies in china and india coupled with growth in applications of rigid plastic packaging in the food beverage and healthcare industries. Mold tek packaging limited is the leader in manufacturing injection molded rigid plastic packaging containers. The market is expected to grow at an annual growth of around 13 5 during the next five years. However in the coming years indian packaging industry is expected to grow at 18 p a.

The future of rigid plastic packaging to 2024. High cost of initial setup is a major challenge whereas fluctuating demand patterns and advancements of alternative technologies are expected to be the burning issues. South india rigid plastic packaging market outlook 9.