Globally, the thin wall packaging market occupies a market value of USD 41,045.2 million and ranges to USD 52,323 million during the market forecast period.
Globally, the thin wall packaging market occupies a market value of USD 41,045.2 million and ranges to USD 52,323 million during the market forecast period. As per the MRFR analysis, it was marked that the market holds a CAGR value of 4.1% during the market forecast period of 2017-2023. Thin packaging is one of the best packaging methods. It safeguards the products and goods against physical damage and contamination. The packaging industry is always in high demand and is referred to as an integral part of the business units. With the growth in demand for prepackaged goods, the thin wall packaging industry has been marked to spur up throughout the world. Thin wall packaging is required for cups, glasses, tubs, trays, clamshells, and jars made up of plastic. This type of packaging is very much convenient and protects the product. It is a means of supplying the consumer appeal that minimizes the footprints against the use of traditional materials like goods made up of metal or glass.
The outbreak of the pandemic led to the bursting up of economic disruption among the people. COVID led to the shutting up of certain manufacturing units. This was because the lockdown and the shutdown imposed by the government hampered the activities of the industries. The labor force suffered from the constant illness of the COVD virus. A change in consumer behavior was marked whereas a change in supply chain analysis took place which hampered the thin wall packaging market growth.
Some of the key players of the global packaging market include
Their partnership and merging have helped them to gain a competitive advantage and which tends to hold a foothold in the market.
Rise in the setting up of the food and beverage industry drives up the market demand. Adopting a new lifestyle as per the modernization of the market, urbanization increases the thin wall packaging market demand. The rise in disposable income among the population globally and regionally flourishes up the thin wall packaging market growth. The transformation of social and demographic life along with the rise in per capita income level has great consequences on the packaging industry. The income of the public should be such that they can afford to buy the imported products, which plays a major role in driving up the market. The aesthetic appeal of thin-wall packaging has improved product usage.
One’s interest in using lightweight packaging products with the rise in working people that helps fuel up the market demand during the market forecast period. The rise in trade facilities has increased the usage of packing products which protects the products from getting contaminated. The lightweight and cost-effective nature of the packed products raises the thin wall packaging market size. The improvement in economic conditions of the environment and the rise in spending among the population in the region is one of the significant factors contributing to the rise in the thin wall packaging market size.
The major challenging factor is the presence of sustainable raw materials in the market. Unavailability of raw material affects the production units.
The rise in high thin wall packaging market value at a high CAGR contributes to market growth.
Stringent market regulations so imposed on thin wall packaging products and their sustainable raw material are the major restraining factors deteriorating market size. Strict environmental rules and regulations so imposed by the government hamper the thin wall packaging market size during the upcoming years.
Globally the industry has been classified based on product type, material, production methods, application segment, and based on region. As per the product type, globally the market is divided into tubs, cups, trays, plastic jars, pots, and lids. Among all these, the tub segment dominates the market and is said to be the fastest-growing segment and holds a large thin wall packaging market share. As per the material, the thin wall packaging industry has been classified into polypropylene, polyvinyl chloride, high-density polyethylene, polystyrene, polyethylene terephthalate, and many more. Among all these, the polypropylene segment is the most dominant segment during the assessment period. As per the production process, the thin wall packaging market has been divided into molding, Thermoforming, and many more. Among all these the injection molding tends to hold a major thin wall packaging market share in the global world and it grows at a fast pace during the review period. As per the application segment, globally the market has been divided into food along with beverages sectors, electronics, cosmetics sector, and many more. Among all these, it was found that the food and beverage segment covers huge market growth and it exhibits a dominant position.
Technology has led to the adoption of new and innovative research along with developmental activities by certain thin wall packaging market demand players. Advanced technology led to the launching up of innovative thin-walled packaging product solutions. It was marked that the shipping costs of the transportation of the glass bottles from the beverage industry across the world cost more where the rise in fuel prices during transportation was more. So therefore technology led to the discovery of new thin-wall packaging products which made the one-way distribution more effective and convenient.
Globally, the lifespan of the thin wall packaging market expands its empire to other four regions like North America, some of the European region, Asia Pacific region, and some regions present in the rest of the world. Asia Pacific region is considered to be the most dominant segment where it was marked that this region grows at a faster pace. The expansion of business in this region was due to the rise in the industry. isolation, growth in income of the middle-class society, and penetration of trade movements throughout this region contribute to the thin wall packaging market size. The growth in demand for ready-to-make goods especially among the public drives up the market size. The rise in the growth of the use of sustainable packed solutions delivered from the food and beverage industry augments the business expansion. The European region is expected to grow at a substantial rate due to its large economic development, setting up more of the food industry, and high consumption of more of the packaged products of food and beverages.
From MRFR analysis, you will find that the analysts make an objective analysis where reports are published which gives a good review of the market and its various components. Some of the other factors like the rise in economy, expenditure by the government, the supply chain channel, and other distribution Channels give a good estimation of the market size and also evaluate the use of top-down and bottom-up proceedings taken for obtaining data from the market and the supply side. The report gives a good analysis of the data where the research framework has suited some of the specific thin wall packaging industry. From MRFR analysis it was found about the research standards that offer tools.
|Market Size||2030: USD 82.64 Billion|
|CAGR||5.37% CAGR (2022-2030)|
|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||
|Key Market Drivers||
The global thin wall packaging market was valued at USD 49 billion in 2021..
The thin wall packaging market will be gaining a valuation of USD 82.64 Billion by the year end of 2030..
The forecast period of the thin wall packaging market is from 2022 to 2030.
The rising demand from the food and beverage industry, changing lifestyle, emergent urban population, as well as upward disposable income are driving the global market for thin-wall packaging to expand in future.
The product type, material, production process, application are the segments under segmental analysis of the thin wall packaging market.