Nepal: Plastic Box Market 2024

Plastic Box Market Size in Nepal

The Nepalese plastic box market contracted rapidly to $X in 2022, with a decrease of -23.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Plastic Box Exports

Exports from Nepal

In 2022, overseas shipments of plastic boxes, cases, crates and similar packing articles increased by 28% to X tons, rising for the third consecutive year after two years of decline. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by 185% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, plastic box exports shrank significantly to $X in 2022. In general, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2020 when exports increased by 310% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), China (X tons) and the UK (X kg) were the main destinations of plastic box exports from Nepal, with a combined 63% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +294.6%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Bhutan ($X) and the UK ($X) constituted the largest markets for plastic box exported from Nepal worldwide, together comprising 63% of total exports.

Among the main countries of destination, the UK, with a CAGR of +415.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic box export price amounted to $X per ton, with a decrease of -38.9% against the previous year. In general, the export price, however, posted a mild expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 44% against the previous year. The export price peaked at $X per ton in 2021, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Box Imports

Imports into Nepal

In 2022, the amount of plastic boxes, cases, crates and similar packing articles imported into Nepal fell significantly to X tons, declining by -19.3% compared with 2021 figures. Overall, imports showed a mild slump. The growth pace was the most rapid in 2016 when imports increased by 86% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plastic box imports dropped remarkably to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 91%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) was the main plastic box supplier to Nepal, accounting for a 92% share of total imports. Moreover, plastic box imports from India exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+48.7% per year) and China (-5.9% per year).

In value terms, India ($X) constituted the largest supplier of plastic boxes, cases, crates and similar packing articles to Nepal, comprising 93% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 2.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+20.3% per year) and China (-5.4% per year).

Import Prices by Country

The average plastic box import price stood at $X per ton in 2022, which is down by -5.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2017 when the average import price increased by 22% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform