New York, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Thin Wall Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Thin Wall Packaging Market Research Report by Product Type (Tubs, Cups, Trays, Jars, Clamshells, Pots, Lids), Material (Polypropylene, High Density Polyethylene, Polyethylene Terephthalate, Polystyrene, Polyvinyl Chloride, and Others), Production Process (Injection Molding, Thermoforming, and Others), Application (Food & Beverages, Electronics, Cosmetics and Others), By Region (North America, Europe, Asia-Pacific and Rest-of-the-World) - Forecast to 2030”, the market is projected to be worth USD 82.64 Billion by 2030, registering a CAGR of 5.37% during the forecast period (2022 - 2030), The market was valued at USD 51.29 billion in 2021.
Eminent industry players profiled in the global thin wall packaging market report include
- Amcor Limited (Australia)
- Reynolds Group Holdings (Auckland)
- Berry Global Inc. (The U.S.)
- RPC Group PLC (U.K.)
- Silgan Holdings (The U.S.)
- Mold-Tek Packaging (India)
- Double H Plastics (The U.S.)
- Ilip SRL (Italy)
- Greiner Packaging International GmbH (Austria)
- Groupe Guillin (France)
- Among others.
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The global thin wall packaging market is both fragmented & also competitive for the presence of numerous international and also domestic industry players. Such key players have incorporated various innovative strategies for remaining at the vanguard and also catering to the burgeoning need of the esteemed clients including, partnerships, contracts, collaborations, new product launches, geographic expansions, joint ventures, and more. Besides, they are also investing in numerous research & development activities.
Growing Adoption in the F&B Industry to Boost Thin Wall Packaging Market Growth
Market Analysis
Thin Wall Packaging Market is projected to be worth USD 82.64 Billion by 2030, registering a CAGR of 5.37% during the forecast period (2022 - 2030), The market was valued at USD 51.29 billion in 2021.
Drivers
Growing Adoption in the F&B Industry to Boost Market Growth
The growing adoption of thin wall packaging in the food & beverage industry will boost market growth in the forecast period as this type of packaging is ideal for storing dairy products, chilled food, frozen food, and is also easily deliverable in different e-commerce platforms.
Multiple Alluring Features and Perks to offer Robust Opportunities
The growing need and preference for more cost-effective, convenient, lightweight, and sustainable packaging solutions from different end use industries will offer robust opportunities for the market over the forecast period. Besides, the alluring features and perks of thin wall packaging like minimal emissions, lower risk at the time of transportation, lightweight, and improved stack-ability during storage are also adding market growth.
Besides, the rising per capita income that has led to a rise in disposable income in people’s hands has enabled them in affording imported food products coupled with the growing R&D development activities via the key industry players in the packaging sectors has resulted in the creation of innovative thin wall packaging products that are also adding market growth.
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Restraints
Strict Government Rules to act as Market Restraint
The strict government imposed rules of various countries may act as a market restraint over the forecast period.
Challenges
Stringent Mandates on Procurement of Raw Materials to act as Market Challenge
The stringent mandates on the procurement of raw materials & food packaging may act as a market challenge over the forecast period.
Market Segmentation
The thin wall packaging market has been bifurcated based on application, production process, material, and product type.
By product type, the tubs segment will lead the market over the forecast period at a high CAGR.
By material, the polypropylene segment will dominate the market over the forecast period.
By production process, the injection molding segment will spearhead the market over the forecast period.
By application, the food & beverages segment will have the lions share in the market over the forecast period.
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COVID-19 Analysis
The COVID-19 outbreak possessed an adverse impact on the global thin wall packaging market growth. The reduced use of commercially accessible food & beverages owing to the government imposed lockdowns led to a slow-down in demand for the thin wall packaging materials. Further, supply chain disruption in most manufacturers reliant on outsourcing of raw materials halted production owing to restrictions on manpower. All these impacted the market growth.
Regional Analysis
APAC to Steer Thin Wall Packaging Market
The APAC region will steer the thin wall packaging market over the forecast period. Rapid industrialization, growing middle-class income, penetration of the e-commerce industry in the region, the growing need for ready-to-make products among working population, the growing need for sustainable packaged solutions from the food & beverage industry, the ease of visible & convenient packaging, and the growing need for consumer packaged goods are adding to the global thin wall packaging market growth in the region. Besides, the rising population, increasing adoption of thin walled packaging solutions for the strict laws on food safety, growing need for FMCG products, consumers inclination towards the packaged & convenient foods industry, high living standards, and growing need for aesthetically and eco-friendly products are also adding market growth.
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Europe to Have Remarkable Growth in Thin Wall Packaging Market
Europe will have remarkable growth in the thin wall packaging market over the forecast period. Rising environmental concerns, increasing initiatives for reducing solid waste produced by packaging industries, the dominance of top players, and the growing investments by key players for developing and launching new products are adding to the global thin wall packaging market growth in the region. Besides, the developing foodservice packaging industry, constant economic development, the increasing consumption of packaged food products, the aim to reduce food waste and packaging waste, increasing domestic need for exports and food items, and the betterment in the economy are also adding market growth.
Segmentation of Market covered in the research:
Thin Wall Packaging Market Research Report by Product Type (Tubs, Cups, Trays, Jars, Clamshells, Pots, Lids), Material (Polypropylene, High Density Polyethylene, Polyethylene Terephthalate, Polystyrene, Polyvinyl Chloride, and Others), Production Process (Injection Molding, Thermoforming, and Others), Application (Food & Beverages, Electronics, Cosmetics and Others), By Region (North America, Europe, Asia-Pacific and Rest-of-the-World) - Forecast to 2030
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Report Scope:
| Report Attribute/Metric | Details |
| Market Size | 2030: USD 82.64 Billion |
| CAGR | 5.37% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Material, Production Process, and Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Amcor Limited (Australia), Reynolds Group Holdings (Auckland), Berry Global Inc. (The U.S.), RPC Group PLC (U.K.), Silgan Holdings (The U.S.), Mold-Tek Packaging (India), Double H Plastics (The U.S.), Ilip SRL (Italy), Greiner Packaging International GmbH (Austria), and Groupe Guillin (France) |
| Key Market Opportunities |
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| Key Market Drivers |
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