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India Liquid Packaging Market Assessment, By Material Type [Paper & Cardboard, Glass, Plastic (Polyethylene (PE) {Low-density polyethylene (LDPE), High-density polyethylene (HDPE)}, Polyethylene Terephthalate, Polypropylene, Polyvinyl chloride, Acrylic Multipolymers, Polystyrene, Polycarbonates, Others), Metal and Rubber], By Product Type [Pouch, Bottles, Cans & Tins, and Others], By Packaging Type [Flexible and Rigid Packaging], By Packaging Technology [Pressure and Gravity Liquid Filling Machines, Pump Fillers, Overflow Fillers and Others], By End user [Food and Beverages, Pharmaceutical, Consumer Goods, Chemicals, Industrial and Others] By Region, Opportunities, and Forecast, FY2017-FY2031F
Market Report I 2024-04-19 I 103 Pages I Market Xcel - Markets and Data
India Liquid Packaging Market size was valued at USD 22.7 billion in FY2023, which is expected to grow to USD 49 billion in FY2031 with a CAGR of 10.1% during the forecast period between, FY2024 and FY2031. The packaging sector in India is maturing and is expected to be one of the largest contributors in the Indian economy. The industry has demonstrated strong potential for expansion in recent years. The Indian packaging industry is promising area for investment due to the low-cost packaging, which is 40% less expensive compared to other countries.
The India liquid packaging market is diversified and serves a wide range of products. In India, retail packaged drinking water was mostly distributed in pouches across the rural areas; however, State Pollution Control Boards (PCBs) have prohibited this format due to the inadequate disposal and recycling of pouches. Thus, the introduction of packaged drinking water with PET packaging has a significant demand. Its widespread use, following BIS guidelines has significantly decreased the number of water-borne infections. The highest recycling rates in India are for PET bottles, which have an overall recycling rate of 92% and a net reuse rate of around 7%. The industry is optimistic of achieving close to 100% collection and recycling of PET bottles with additional activity in accordance with the Extended Producer Responsibility (EPR) standards. Thus, these recycling activities are further expected to drive the market of liquid packaging in India.
The Increasing Demand for PET (polyethylene terephthalate) Material
In varied industries, PET (polyethylene terephthalate) is an excellent choice as a raw material. It is a viable option for packaging consumable goods due to its characteristics including chemical resistance, strength-to-weight ratio, shatterproof capabilities, and inexpensive cost of production. Due to their minimal energy requirements and lightweight design, PET bottles have the lowest emissions than all other types of bottles as aluminum cans and glass bottles require more energy. PET bottles emit half pollution from aluminum cans, whereas glass bottles emit three times as much. It is an excellent water and moisture barrier material. And hence, perfect for liquid packaging. Plastic bottles made from PET are used for mineral water and carbonated soft drinks, driving the growth of liquid packaging market in India.
For instance, in July 2023, PepsiCo India has declared that it will introduce Pepsi Black in the first 100% rPET (recycled plastic) bottles in India in the Carbonated Beverage category. The company will work with Srichakra Polyplast (India) Private Limited to manufacture its innovative plastic bottles in India, while Varun Beverages will serve as the bottling partner. Thus, due to such developments in various companies, the demand for liquid packaging market is expected to grow in India at a higher pace.
Surge In Demand for Flexible Packaging in India
With changing trends in the packaging industry, rigid packaging for liquids is being replaced by flexible packaging. Bottles with flexible packaging have features such as they are lighter with better portability for consumers on-the-go. Flexible liquid packaging has a higher product to package ratio. In addition, Flexible liquid packaging uses 60% less plastic than traditional plastic bottles and it requires approx. 50% less energy in production as compared to traditional liquid packaging method. It has more efficient warehousing storage and transportation is cheaper and mess-free. These factors contribute to the growth of flexible liquid packaging.
Impact of COVID-19
Despite the pandemic, the country's packaging operations have grown steadily, albeit at a different rate than it did before to the COVID-19 with the rise of online retail and e-commerce brands. The COVID-19 pandemic has witnessed a surge in the use of online food delivery services, which has led to an increase in demand for home delivery during government-mandated stay-at-home periods. Despite an increase in online orders this year, the second wave caused a fall in revenue in the second quarter. Major players such as Uflex, Cosmo Films, and Essel Propack gained from increased demand for products like handwash and hand sanitizer. Single-use sanitizer packs were in high demand from the perspective of Liquid flexible packaging and sanitation. A surge in the use of big 750 ml refill packs packaged in spout pouches has been observed in the liquid handwash category, which doubled in size. Thus, COVID-19 positively impacted the India liquid packaging market during the pandemic period.
Impact of Russia-Ukraine War
The production of plastic and the liquid packaging sector depends on the oil and gas sector. Since the conflict between Russia and Ukraine severely disrupted the global oil and gas sector, its impact was evident on the India liquid packaging market as well. Many countries banned Russian oil imports, leading global crude oil prices to reach high records. The conflict-induced global uncertainties resulted in fluctuations in the prices of raw materials and energy sources, directly affecting the production costs incurred by liquid packaging companies. However, India mitigated the impact of the ongoing war by purchasing Russian crude at a discounted price and slightly eased the situation for Indian liquid packaging manufactures.
Key Players Landscape and Outlook
The India Liquid Packaging Market is highly competitive, with major players dominating the market. These players are ITC LIMITED, UFlex Limited, Essel Propack Limited, Huhtamaki India Ltd., Mold-Tek Packaging Ltd., Excel Glasses Ltd., HINDUSTAN TIN WORKS LTD., Hindustan National Glass & Industries Limited, and INNOVATIVE TECH PACK LTD. These companies have a strong brand presence, a wide distribution network, and a focus on innovation. They are constantly investing in research and development of innovative technologies and products that meet the needs of their customers. In April 2022, Elopak and GLS announced a joint venture. The company is being established to manufacture and process high-quality aseptic packaging solutions, designed to ensure that liquid food is safe and accessible to consumers across the globe.
1. Research Methodology
2. Project Scope & Definitions
3. Impact of COVID-19 on India Liquid Packaging Market
4. Impact of Russia-Ukraine War
5. Executive Summary
6. Voice of Customer
6.1. Market Awareness and Product Information
6.2. Brand Awareness and Loyalty
6.3. Factors Considered in Purchase Decision
6.3.1. Brand Name
6.3.2. Quality
6.3.3. Quantity
6.3.4. Price
6.3.5. Product Specification
6.3.6. Application Specification
6.3.7. Shelf-Life
6.3.8. Availability of Product
6.4. Frequency of Purchase
6.5. Medium of Purchase
7. India Liquid Packaging Market Outlook, FY2017-FY2031F
7.1. Market Size & Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. By Material Type
7.2.1. Paper & Cardboard
7.2.2. Glass
7.2.3. Plastic
7.2.4. Polyethylene or polythene (PE)
7.2.4.1. LDPE (Low Density Polyethylene)
7.2.4.2. HDPE (High-Density Polyethylene)
7.2.5. Polyethylene terephthalate (PET)
7.2.6. Polypropylene (PP)
7.2.7. Poly Vinyl Chloride (PVC)
7.2.8. Acrylic Multipolymers
7.2.9. Polystyrene
7.2.10. Polycarbonates
7.2.11. Others
7.2.4 Metal
7.2.5 Rubber
7.3. By Product Type
7.3.1. Pouch
7.3.2. Bottles
7.3.3. Cans & Tins
7.3.4. Others Phenolic
7.4. By Packaging Type
7.4.1. Flexible Packaging
7.4.2. Rigid Packaging
7.5. By Technology
7.5.1. Pressure & Gravity Liquid Filling Machines
7.5.2. Pump Fillers
7.5.3. Overflow Fillers
7.6. By Region
7.6.1. North
7.6.2. East
7.6.3. West & Central
7.6.4. South
7.7. By Company Market Share (%), FY2023
8. Supply Side Analysis
8.1. Capacity, By Company
8.2. Production, By Company
8.3. Operating Efficiency, By Company
8.4. Key Plant Locations (Up to 25)
9. Market Mapping, FY2023
9.1. By Material Type
9.2. By Product Type
9.3. By Packaging Type
9.4. By Technology
9.5. By Region
10. Macro Environment and Industry Structure
10.1. Supply Demand Analysis
10.2. Import Export Analysis - Volume and Value
10.3. Supply/Value Chain Analysis
10.4. PESTEL Analysis
10.4.1. Political Factors
10.4.2. Economic System
10.4.3. Social Implications
10.4.4. Technological Advancements
10.4.5. Environmental Impacts
10.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
10.5. Porter's Five Forces Analysis
10.5.1. Supplier Power
10.5.2. Buyer Power
10.5.3. Substitution Threat
10.5.4. Threat from New Entrant
10.5.5. Competitive Rivalry
11. Market Dynamics
11.1. Growth Drivers
11.2. Growth Inhibitors (Challenges, Restraints)
12. Key Players Landscape
12.1. Competition Matrix of Top Five Market Leaders
12.2. Market Revenue Analysis of Top Five Market Leaders (in %, FY2023)
12.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
12.4. SWOT Analysis (For Five Market Players)
12.5. Patent Analysis (If Applicable)
13. Pricing Analysis
14. Case Studies
15. Key Players Outlook
15.1. ITC LIMITED
15.1.1. Company Details
15.1.2. Key Management Personnel
15.1.3. Products & Services
15.1.4. Financials (As reported)
15.1.5. Key Market Focus & Geographical Presence
15.1.6. Recent Developments
15.2. UFlex Limited
15.3. Essel Propack Limited
15.4. Huhtamaki India Ltd.
15.5. Mold-Tek Packaging Ltd.
15.6. Excel Glasses Ltd.
15.7. HINDUSTAN TIN WORKS LTD.
15.8. Hindustan National Glass & Industries Limited
15.9. INNOVATIVE TECH PACK LTD.
15.10. Jauss Polymers
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work
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