Rising Demand for Lightweight and Cost-effective Packaging Boosts Thin Wall Packaging Market Growth
Mar 13, 2023
The Thin Wall Packaging Market will obtain a value of USD 52,323 million and at a CAGR 4.1% between 2020-2030.
The thin wall packaging market is witnessing significant growth due to the increasing demand for lightweight and cost-effective packaging solutions. Thin wall packaging refers to plastic containers that are thin and light in weight but have high strength and durability. These containers are widely used in the food and beverage industry for packaging products such as dairy, bakery, and frozen foods. The market is also driven by the growing demand for convenience foods, changing lifestyles, and increasing disposable income. Major players in the market include Berry Global Inc., Plastipak Holdings Inc., and Reynolds Group Holdings Ltd. The market is expected to continue to grow due to the increasing demand for sustainable and eco-friendly packaging solutions.
Due to the urgent requirement to reduce package weight in line with strict food and consumer safety laws, the worldwide Thin Wall Packaging Market is anticipated to experience considerable growth during the projected period. Demand will increase in the market over the coming years due to long-term growth and sustainability goals for organizations in the packaging sector, which often involve recycling and using raw materials made from bio-based sources.
The visual attractiveness of items helps brand owners stand out from the competition in the quickly evolving consumer goods market, increasing product visibility & consumer appeal. The packaging sector depends on production optimization, affecting the trade’s marginal margins. A cost-effective production process is made possible by thin-walled packaging’s great flowability, shorter cycle times, balanced mechanical qualities, and outstanding organoleptic properties.
The market for skinny wall packaging will also be driven by enhanced stackability during storage brought about by weight reduction. This directly contributes to minimal floor space consumption during storage and transit, opening doors for reducing storage costs. During the forecast period, higher environmental emission performance, recyclability, and lower chance of breakage/loss during transportation will impact consumer demand for the product.
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The thin wall packaging market’s dominion spreads to four other regions: North America, parts of Europe, the Asia-Pacific region, and certain other parts of the world. The Asia Pacific area is considered the most important sector, and it has been noted that this region expands more quickly than others. The industry’s growth was the cause of the region’s business expansion. The market size for thin wall packaging is influenced by isolation, rising middle-class incomes, and trade movement penetration. The market size is increased by the demand for ready-to-make products, particularly among consumers.
The Thin Wall Packaging Market is divided into different segments.
The market is divided into Thermoforming and Injection Molding based on the Production Process. The market share and demand for the injection molding process are increasing due to its many advantages, including decreased production time, expense, and waste. Due to its high level of uniformity compared to the thermoforming technique, injection molded thin-wall packaging is in high demand.
The market is segmented on materials into Polyvinyl Chloride, Polypropylene, Polyethylene, Polyethylene, Terephthalate, and Polypropylene. It provides excellent insulation and resistance to pests and moisture. Furthermore, it is a well-liked option for customers and brand owners because of its simplicity of processing, small weight, and minimal environmental impact.
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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)
Berry Global and material supplier Borealis have an agreement that takes effect in May 2021 and gives Berry Global access to circular polyolefins made from recycled chemicals. Thanks to this, Berry will be able to use 600 million pounds of post-consumer recycled content by 2025.
In October 2021, Wendy’s announced a new partnership with Berry Global and LyondellBasell, two major players in the packaging and plastics industries. The partnership will support Wendy’s transition to single-substrate, transparent plastic drink cups from plastic-lined paper cups with limited recycling. Recycling will make an important step toward circularity possible for more consumers.
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