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In 2019, The Global Thin Wall Packaging Market was Valued At US$ 41.8 Bn in 2019 And Is Expected To Witness A CAGR Of 4.3% Over The Forecast Period (2020-2028).
The global thin wall packaging market is mainly driven by the rising food & beverage industry and growing demand for lightweight packaging across the globe. A surge in demand for a consumer-friendly packaging and changing lifestyle are important factors expected to drive the market demand in years to come.
A rise in disposable income along with the growing demand of thin-wall packaging in developing countries such as China, India, Indonesia are some other factors responsible for market growth over the forecast period. Growing demand from the packaged food industry is another prominent factor anticipated to enhance market demand during the forecast period. Thin wall packaging has numerous benefits such as low cost, lightweight, easy to use, and others that are expected to support market growth throughout the forecast period.
A surge in need for reducing packaging weight coupled with stringent government regulations for packaged food are some other key factors projected to enhance the market demand in years to come. Adoption of bio-based and recycling raw materials in the packaging industry is anticipated to boost the market growth over the forecast period (2019-2028).
Injection Molding Accounted For The Highest Share Of XX% In Global Thin Wall Packaging Market In 2019.
The injection molding segment held significant share in the global thin wall packaging market in 2019. Different benefits of injection molding production process such as low cost, reduction in production time, less wastage are expected to support the segment growth over the forecast period. Uniformity of the injection molding process is anticipated to drive the market demand in years to come. On the contrary, the thermoforming production process projected to register declining CAGR during the forecast period owing to the polystyrene ban in major countries on account of environmental concerns.
By End-Use, Food Segment Expected To Grow At Rapid Pace in Global Thin Wall Packaging Market (2019-2028)
The food segment dominated thin wall packaging market in 2019. The segment has its dominance due to growth in the food packaging industry. Growing demand for single-serve and portion control products along with growing environmental concerns and rising packaged food consumption is expected to drive the segment demand over the forecast period. Increased disposable income and changing lifestyle are some other factors expected to further enhance market growth during the forecast period.
The beverage segment is anticipated to expand with a substantial share in the global thin wall packaging market over the forecast period (2019-2028) owing to growing health concerns and a surge in the beverage industry in Asia Pacific.
Growth Prospects of Thin Wall Packaging Are High In Asia Pacific
Asia Pacific is anticipated to expand with a rapid pace during the forecast period. The rise in disposable income, growing urbanization, and rapid industrialization are some of the major factors responsible for the fastest growth of the region. Growth in food industry along with benefits offered by thin wall packaging such as ease of visible & convenient packaging is expected to drive the market over the forecast period.
In 2019, Europe accounted for a key share in the thin wall packaging market and expected to continue its dominant position over the forecast period. Increased demand for eco-friendly, visually appealing, and convenient packaging are the major factors responsible for regional growth. Expansion of the retail industry coupled with rising domestic food exports are also important factors anticipated to drive regional growth during the forecast period. In addition to this, a growing focus on the reduction of food and packaging waste is projected to enhance the growth of Europe. Market. As a result of the aforementioned factors, Europe is expected to continue its dominance throughout the forecast period.
Global Thin Wall Packaging Market is very modest with presence of a large number of global and local/regional manufacturers. Double H Plastics, Amcor, Greiner Packaging International, Berry Global, Mold-Tek Packaging, Silgan Holdings, ILIP Srl, PACCOR, Reynolds Group, RPC Group, and SABICare some key players operating at regional as well as country level. Acquisitions, partnerships and mergers are expected to be the key trend followed by major market players during the forecast period.
By Product Type:
By Production Process:
- Injection Molding
- Polypropylene (PP)
- High-density Polyethylene (HDPE)
- Low-density Polyethylene (LDPE)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- North America
- Latin America
- Asia Pacific
- Middle East and Africa