NEWARK, Del, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Global sales of thin-walled plastic containers market are estimated to be valued at US$ 35,735 million in 2024. The market is anticipated to reach US$ 54,315 million by 2034. The market’s revenue is projected to expand at a CAGR of 4.8% over the forecast period.
The food & beverage sector is using thin wall plastic containers to pack several foods, such as fruit and vegetable packaging, juice packages, frozen food packaging, and meal packages. This demand is increasing due to the benefits of thin-wall plastic containers over conventional ones.
Thin wall plastic containers are safer in the freezer, dishwasher, and microwave than regular plastic containers. These benefits have also helped to sustain the growing trend of people choosing frozen foods that do not pose a risk of contamination.
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Several manufacturers are developing a variety of barrier technologies that are expected to guarantee the highest degree of hygiene for the preservation and palatability of frozen food. Producers are increasing the transparency of these containers so that consumers can better understand what they are buying. Hence, demand for thin wall plastic containers is projected to expand through the forecast period due to product innovation making them safer.
Leading companies are moving toward environmentally friendly packaging by creating recyclable, easily-disposed-of thin-walled plastic containers with sustainable components. Reusable packaging is given more attention by consumers in the market.
The thin-wall plastic container industry is moving toward utilizing new manufacturing techniques and process improvements with advancements in technology and general awareness. Driven by the increasing raw material prices and energy costs, new approaches like co-extrusion are making their way toward mainstream production of thin-walled plastic containers.
Key Takeaways from the Global Thin Wall Plastic Container Market
- The market is expected to surge at a CAGR of 4.8% by 2034.
- The United States is projected to rise at 3.4% CAGR during the forecast period.
- The polypropylene segment is expected to grow at 4.4% CAGR by 2034 based on material type.
- By application type, the dairy product segment is estimated to surge at a CAGR of 4.5% by 2034.
- Global sales of thin wall plastic containers are estimated to be valued at US$ 35,735 million in 2024.
"The growing trend of sustainable packaging solutions is significantly impacting the thin-wall container market. Manufacturers are exploring eco-friendly materials, recyclability, and reduced environmental impact to align with consumer preferences and regulatory requirements," says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
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Competitive Landscape
Manufacturing companies are developing innovative designs catering to specific products or applications. Key players in the market are expanding their presence and manufacturing capabilities and moving toward adopting and offering sustainable solutions to customers.
Companies are expanding by integrating with different forms and collaborating to develop designs and products. Some of the recent activities and developments implemented by a leading player in the market are:
- In 2021, Mauser Group N.V. invested in the manufacturing industry in an effort to broaden its line of business and improve its capacity for production in Germany.
Key Companies Profiled
- Ball Corporation
- Double H Plastics, Inc.
- ACMEPAK PLASTIC PACKAGING, LTD.
- Sem Plastik
- RPC Group plc
- Mold-Tek Packaging Limited (MTPL)
- ENGEL AUSTRIA GmbH
- D K Industries
- Metro Valves
- Insta Polypack
- Zhejiang Shenghui Kitchenware Co., Ltd.
- Taizhou Kaiji Plastic Mould Co., Ltd.
- Guangdong Happy Home Plastic Co., Ltd.
- Shantou Gepai Environmental Technology Co., Ltd.
- Dongguan Invotive Plastic Products Co., Ltd.
- Sunrise Plastics Ltd.
- Borouge
- SABIC
- Exxon Mobil Corporation
- The Dow Chemical Company
Global Thin Wall Plastic Container Market Report
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global market for thin wall plastic containers, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals market growth projections on the global thin wall plastic container market based on the product (boxes and bins, trays, cups, lids, thin wall pails, bowls), material (polypropylene, polystyrene, polyethylene, polyethylene terephthalate), manufacturing technology (thermoformed, vacuum technology, injection moulded technology, others), application (dairy products, frozen food, fruit and vegetables, bakery and confectionery, juices and soups, meat, seafood, and poultry, ready-to-eat meals, pharmaceuticals, personal care and cosmetics and paints, lubricants and adhesives), and regions.
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Global Thin Wall Plastic Container Market Segmentation by Category
By Product:
- Boxes and Bins
- Trays
- Cups
- Lids
- Thin Wall Pails
- Bowls
By Material:
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene (PE)
- High-density Polyethylene (HDPE)
- Low-density Polyethylene (LDPE)
- Polyethylene Terephthalate (PET)
By Manufacturing Technology:
- Thermoformed
- Vacuum Formed Technology
- Injection Molded Technology
- Others
By Application:
- Dairy Products
- Frozen Food
- Fruits and Vegetables
- Bakery and Confectionery
- Juices and Soups
- Meat, Seafood, and Poultry
- Ready-to-eat Meals
- Pharmaceuticals
- Personal Care and Cosmetics
- Paints, Lubricants, and Adhesives
By Region:
- North America
- Latin America
- Asia Pacific excluding Japan
- Western Europe
- Eastern Europe
- Middle East and Africa
- Japan
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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- The returnable plastic crate market size is likely to reach US$ 2.9 billion by 2033. The market is further expected to surge at a CAGR of 5.4% during the forecast period 2023 to 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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