Vancouver, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) -- The global Thin Wall Packaging Market is expected to reach USD 66.75 Billion by 2027, according to a current analysis by Emergen Research. Adoption of bio-based raw materials and production of recyclable products by packaging industry considering environmental concerns and imposition of strict food & consumer safety rules are some key factors expected to drive global market revenue growth going ahead.
Thin wall packaging is extensively used by food and beverage industry as it is best suited for storing frozen, chilled food, dairy products and is easily deliverable via various e-commerce platforms. Lifestyle changes and increasing demand for fast food has increased demand for thin wall packaging. This has led to increased production of enhanced packing products to protect goods from physical damage or contamination. Thin wall packaging is also used in various other applications including pharmaceuticals, cosmetics, personal care, and household containers for wipes, cotton buds, and detergents. Moreover, advantages of using thin wall packaging solutions over others is that it is low weight, easy usage, reusable, and requires less material.
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Factors such as increasing global population, constant demand for food, and rise in disposable income are fueling market growth. In addition, various market players are focusing on developing strategies to expand their supply chains across the globe.
Some key highlights in the report:
- The jars segment is expected to register fastest CAGR of 4.7% during the forecast period owing to less risk of contamination and physical damages as compared to other products.
- The polypropylene segment accounted for largest share in 2019 and is expected to account for robust revenue growth during the forecast period. High usage of polypropylene in food and non-food packaging industries as it is easily reusable, stiff, health resistance and can be easily stored and transported.
- Among the application segments, the food segment accounted for largest market share in 2019 and is expected to maintain its dominant position throughout the forecast period. Factors such as increasing preference for packaged food due to change in lifestyles and increasing disposable income especially, in developing countries and high R&D investments are surging segment revenue growth.
- Europe dominated other regional markets in the global thin wall packaging market with a market share of 42.2% in 2019. High revenue growth is attributed to factors such as rising environmental concerns, growing initiatives to reduce solid waste produced by packaging industries, dominance of leading players. Moreover rising investments by these key players to develop and launch novel products is supporting market revenue growth.
- The market in Asia Pacific is projected to account for fastest revenue growth during the forecast period owing to increasing demand for consumer packaged goods and rising population In addition, growing adoption of thin walled packaging solutions due to stringent laws on food safety is supporting market growth.
- Berry Global Group, Amcor, Silgan Holdings, Reynolds Group Holdings, RPC Group PLC, Paccor GmbH, Greiner Packaging International, IIip SRL, Double H Plastics, and Mold-Tek Packaging are some key players in the thin wall packaging market
- In May 2020, Berry Global partnered with Mondelez International for supplying packaging with recycled plastic for Philadelphia.
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Emergen Research has segmented the global Thin Wall Packaging Market based on Product Type, Production Process, Material, Application, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Cups
- Trays
- Tubs
- Jars
- Pots
- Lids
Production process Outlook (Revenue, USD Billion; 2017-2027)
- Injection molding
- Thermoforming
Material Outlook (Revenue, USD Billion; 2017-2027)
- High-density and Low-density Polyethylene
- Polypropylene (PP)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Beverages
- Food
- Pharmaceuticals
- Cosmetics
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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