The global thin-wall plastic container market is witnessing significant growth, driven by the growing shift towards sustainable packaging solutions. Future Market Insights (FMI) anticipates a year-on-year growth rate of 5.3% in 2021, with global sales expected to reach a substantial 307,885 million units in the same year. FMI’s analysis projects that the market’s total worth will reach US$ 32.2 billion in 2021, with a continued upward trajectory. The thin wall plastic container market is forecasted to sustain a healthy compound annual growth rate (CAGR) of 5.6% between 2021 and 2031.
North America stands at the forefront of this market, primarily due to the rising demand for plastic containers within the food and beverage industry. The region is poised to maintain robust growth, with a projected CAGR of around 4.1% throughout the forecast period. This growth reflects the increasing preference for thin wall plastic containers as a sustainable and versatile packaging solution in response to evolving consumer and industry demands.
Request for a sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-5237
The expanding network of retail and supplier channels is a promising sign for sustained market growth. Moreover, consumer preference for lightweight packaging is expected to extend the market’s reach to diverse sectors and industries, emphasizing its potential to reshape the packaging landscape sustainably.
Future Market Insights (FMI) has published a new report titled “Thin Wall Plastic Containers Market: Global Industry Analysis 2016 – 2020 and Opportunity Assessment 2021 – 2031.” The growing use of thin wall plastic containers can be attributed to the increasing demand from the food and beverages sector.
In order stay competent in the market, key players are constantly focusing on innovation and are looking forward to cater to the needs of consumers as well as the vertical industries. A strong presence of the leading players across several regions and the expertise of specific companies in certain areas is one of the notable characteristics of the global thin wall plastic containers market.
Companies are also focusing on mergers and acquisitions to maintain their position in the global market in the long run. For instance, in 2016, Ball Corporation acquired Rexam plc. The acquisition was aimed at strengthening the production capacity of the former company. The other leading companies operating in the market are Double H Plastics, Inc., ACMEPAK PLASTIC PACKAGING, LTD., Sem Plastik, RPC Group Plc, Mold-Tek Packaging Limited (MTPL), ENGEL AUSTRIA GmbH, and D K Industries.
Expanding production by market players is expected to benefit the global thin wall plastic containers market in the long run. As stated in the report, the global thin wall plastic containers market is expected to witness a CAGR of 5.6% from 2021 to 2031. The market was worth US$ 32,223 Mn in 2021.
Ask An Analyst: https://www.futuremarketinsights.com/askus/rep-gb-5237
Lightweight Packaging to Push Market Revenue Growth
Companies across the globe in different sectors are trying to cut costs and eliminate processes that diminish their bottom line. In comparison to other forms of packaging such as glass or can, a less amount of raw material is used while manufacturing thin wall plastic containers. This helps companies cut down their raw material costs.
In addition to this, thin wall plastic containers can be manufactured in a shorter cycle time which translates to higher productivity and comparatively lower cost per produced part. Furthermore, thin wall plastic containers are used in a variety of applications including medical disposables, electronic hosing and protection among others, which provide a lot of potential for cost savings for manufacturers, suppliers, and retailers in multiple fields.
As these containers are quite thin, they offer a myriad of design opportunities as well. Moreover, in an effort to meet sustainability goals, companies are concentrating on lighter packaging materials.
On the other hand, snowballing landfills, impairment of the ecosystem, and long-term health problems are some of the harmful effects of plastic containers. Growing oversight by consumers and interest groups over the harmful effects of traditional plastic packaging has made eco-friendly packaging the Centre of the strategic base of the industry.
Request For Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-5237
Many companies operating in the market are banning packaging materials such as plastic and are looking for alternatives of these packaging materials. Various manufacturers are at present focusing on biodegradable packaging. This scenario may negatively impact growth in sales of thin wall plastic containers.
Counterfeit Products to Pose a Threat to the Global Market
Like other vertical industries, the thin wall plastic containers industry too is inundated by the overflow of counterfeit products. The influx of counterfeit products has been recognized as a core problem for the growth of the market in the long run. These counterfeit products are of low quality and can severely harm the well-being of end users. Companies such as Amcor are looking for ways to address this issue while maintaining their originality in the process.
Market Segmentation:
Product Type:
Boxes & Bins
Trays
Cups
Lids
Thin Wall Pails
Bowls
Material Type:
Polypropylene (PP)
Polystyrene (PS)
Polyethylene (PE)
High-density Polyethylene (HDPE)
Low-density Polyethylene (LDPE)
Polyethylene Terephthalate (PET)
Manufacturing Technology:
Thermoformed
Vacuum Technology
Injection Molded Technology
Others
Region:
North America
Latin America
Eastern Europe
Western Europe
China
Middle East and Africa
Asia Pacific
Japan
Application:
Dairy Products
Frozen Foods
Fruits and Vegetables
Bakery and Confectionery
Juices and Soups
Meat, Seafood and Poultry
Ready-to-eat Meals
Pharmaceuticals
Personal Care and Cosmetics
Paints, Lubricants and Adhesives
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube