North America leads the thin wall plastic containers market as a result of increasing demand for plastic containers in food and beverage industry. The North America market is set to register a CAGR of around 4.1% during the forecast period.
As the world is transitioning towards sustainable packaging solutions, the demand for thin wall containers is on the rise. Future Market Insights (FMI) forecasts that the thin wall plastic container market will experience a year-on-year growth rate of 5.3% in 2021. The global sales of thin wall plastic containers are forecast to grow up to 307,885 Mn units in 2021.
As per Future Market Insights (FMI) analysis, the thin wall plastic containers market worth will reach US$ 32.2 Bn in 2021. Overall thin wall plastic container sales are expected to grow at a CAGR of 5.6% between 2021 and 2031.
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Application in a Variety of Industries Is Boosting Sales of Thin Wall Plastic Containers
The demand for innovative and sustainable packaging is increasing along with the fast-growing consumer goods and food industries. Lightweight packaging is urgently needed, and demand for it is rising across many industries. Thin wall plastic container producers have been forced to expand their production capabilities and build new facilities in order to meet the demands of catering and retail businesses.
In the long run, the expansion of retail and supplier channels is also anticipated to be positive for market growth. Consumer preference for lightweight packaging is additionally anticipated to broaden the market’s reach across various industries and sectors.
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.
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Thin Wall Plastic Containers Market Demand Outlook in Comparison to 2021-2031 Forecast
The thin wall plastic containers market is expected to grow at a CAGR of around 5.6% between 2021 and 2031 in comparison to 4.7% CAGR registered in 2016-2021. Growing demand for light and transparent containers across various industries is set to accelerate the sales of thin wall plastic containers during the forecast period.
The increasing utilization of thin wall plastic containers in food and beverages, pharmaceuticals and FMCG segment is propelling the growth of the market. Growing consumer preference for well-packaged products is fueling the demand for thin-walled plastic containers.
Thin Wall Plastic Containers 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
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
3. Market Viewpoint
3.1. Porter’s Five Forces Analysis for Thin Wall Plastic Containers Market
3.2. Value Chain Analysis
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Restraints
3.3.3. Opportunities
3.3.4. Trends
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[06-01 15:35] Shilpa Banerjee
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