Thin Wall Packaging Market Scenario
Thin wall packaging, a type of packaging solution helps protect products and goods from contamination, and physical damage during transportation. Packaging plays a pivotal role in the growth of any product-based business. Over the past few years, the global thin wall packaging market has been rising sustainably, predominantly due to the accelerating demand for packaged food.
According to an eminent research firm, Market Research Future (MRFR), the global thin wall packaging market would reach a valuation of USD 52,323.6 MN by 2023, registering 4.10% CAGR throughout the forecast period (2017-2023). In the year 2017, the market valuation had settled at USD 41,045.2 MN.
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Additional factors bolstering the growth of the market include the rising demand from the burgeoning food and beverage industry, changing lifestyle, rapid urbanization, and increasing disposable income of the consumers, worldwide. The increasing preference for light-weight, user-friendly, cost-effective, and attractive packaging has further propelled the growth of the market.
On the other hand, strict mandates imposed on food packaging alongside the volatility in the prices and supply of raw material required for manufacturing of this type of packaging are obstructing the growth of the market. Nevertheless, the continually increasing demand for packaged food, especially among the working population would support the growth of the market throughout the review period.
Major Players
Players leading the global thin wall packaging market include
- Reynolds Group Holdings (Auckland)
- Amcor Limited (Australia)
- Berry Global Inc. (US)
- Silgan Holdings (US)
- RPC Group PLC (UK)
- Mold-Tek Packaging (India)
- Ilip SRL (Italy)
- Double H Plastics (US)
- Groupe Guillin (France)
- Greiner Packaging International GmbH (Austria), among others.
Industry/Innovation/Related News
July 03, 2019 — Borealis AG (Austria), one of the largest producers of polyethylene and polypropylene, launches recycling technology Borcycle™, an evolving technology to be used to produce high-quality compounds made of recycled polyolefins (rPO).
At the event, Borealis also announced a series of significant improvements in materials such as existing recyclates in the established Purpolen™ brand portfolio. For instance; Purpolen® PP Y40 is a recycled polypropylene (PP) with higher and improved flowability. The melt flow index of Purpolen is now improved to 40g/10min for the injection molding of thin-walled parts with target applications in thin-wall packaging.
Global Thin Wall Packaging Market –Segmentations
For a better understanding, the Thin Wall Packaging Market report has been segmented into five key dynamics:
By Product Type : Cups, Tubs, Trays, Clamshells, Jars, Pots, and Lids, among others.
By Material : Polypropylene (PP), High-density Polyethylene (HDPE), Polyethylene Terephthalate (PET), Polystyrene (PS), and Polyvinyl Chloride (PVC), among others.
By Production Process : Injection Molding and Thermoforming, among others.
By Application : Food Beverages, Electronics, and Cosmetics, among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Thin Wall Packaging Market – Regional Analysis
The Asia Pacific region backed by its burgeoning food beverages industry accounts for the largest share in the global thin wall packaging market. Due to the rapid industrialization and penetration of the e-commerce industry, the region is expected to retain its dominance throughout the forecast period. Also, the growing demand for ready-to-eat products, especially among the working population, would drive the market in this region.
Moreover, the demand for sustainable packaged solutions from the FB industry is further expected to foster the growth of the market. Factors such as the increasingly lucrative opportunities in the packaging industry and the large exports of fresh produce, especially from China and India, propel the regional market.
The thin wall packaging market in the European region holds the second-largest share, globally. The region would project a substantial market demand due to the improving economy, growth in the foodservice packaging sector, and growing consumption for packaged food products. Changing lifestyles and the increasing demand from the eCommerce sector is allowing the thin wall packaging market in the region to increase rapidly.
North America thin wall packaging market is multiplying too mainly due to the demand for convenience packaging, which is led by the growing online food delivery market. Stringent government regulations for packaging of edible items and the ever increasing demand for quality packaging are driving the regional market growth. Higher disposable income is a key driving force behind the significant demand for efficient packaging in the FB industry.
Global Thin Wall Packaging Market – Competitive Landscape
Highly competitive, the thin wall packaging market appears to be fragmented characterized by the presence of several large and small-scale players. These players incorporate strategic initiatives such as collaboration, acquisition, partnership, expansion, and technology launch to gain a competitive advantage in the market.
Manufacturers employ continuous improvement strategies to upgrade products. To achieve this goal, they implement improvements and use advanced technologies. And, thus, meet the changing needs of the consumer. These players invest substantially in research and development projects and develop state-of-the-art equipment, facilities, advanced technology, and processes.
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