Global Thin Wall Plastic Container Market is segmented By Type (Tubs, Cups, Jars, Trays, Pots, Clamshells, Lids), By Production Process (Thermoforming, Injection molding), By Material (Polypropylene (PP), Polyethylene (PE), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyvinyl Chloride (PVC)), By Application (Food, Beverages, Others (pharmaceuticals, cosmetics & personal care, and industrial)), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
The global thin wall plastic container market is estimated to reach at a high CAGR during the forecast period 2022-2029.
The increasing demand for innovative and sustainable packaging is expanding in tandem with the growth of the food and beverage and consumer products industries. The need of the hour is for lightweight packaging, and demand for it is growing in various industries. In the long run, the expanding number of retail and supplier channels is also projected to benefit market growth. Thin wall plastic container manufacturers have increased their manufacturing capacity and opened new operations to meet the demands of the catering and retail businesses. Consumers' preference for lightweight packing is likely to boost the market's reach into various sectors and industries.
Market Dynamics
Increasing demand for lightweight packaging is fueling the demand for thin-wall packaging throughout the forecast period. The increasing market share of e-commerce in the food and beverage industry has increased packaged goods consumption, necessitating packaging to protect products from contamination and damage. Over the forecast period, this trend is projected to increase the market.
Increasing demand for lightweight packaging is fueling the demand for thin-wall packaging throughout the forecast period
Lightweighting may not be the ultimate solution to generating sustainable packaging; it should be a critical first step toward finding a long-term solution to a massively complicated challenge. Lightweight packaging aims to offer a lightweight solution for the packaging; even so, it must be strict towards its performance aspects. According to PwC's "Packaging Efficiency" model, the package life cycle must meet five primary criteria: the resources needed to create the package, the package's ability to preserve the goods, display efficiency, transportation friendliness, and the kind of influence the package has at the end. Many industries have seen progressive benefits since the adoption of lightweight packaging. Several packaging production companies are attempting to embrace it because this type of packaging can reduce overall costs, save energy during production, and transportation and its primary benefits, lightweight and lightweight, efficient recycling. The food and beverage industry, in particular, is attempting to stock shelves with lighter-weight products by experimenting with various packaging materials and procedures. Thin wall plastic containers packaging is one of the prime types of lightweight packaging, and improving lightweight packaging is accelerating the market for thin wall plastic containers market in recent times,
The increasing market share of e-commerce in the food and beverage industry has increased packaged goods consumption, necessitating packaging that can protect products from contamination and damage
Food and beverage (F&B) e-commerce include online sales of foods and beverages and related services, particularly domestic consumption. Companies that process raw food materials/beverages package them, distribute them, and have an online portal or application for their sales make up the food and beverage eCommerce market. This includes fresh, prepared, packaged foods and alcoholic and non-alcoholic beverages. These raising e-commerce percentage is more likely to accelerate the thin wall plastic container market owing to associated advantage with the packaging. Thin wall plastic container demand is predicted to expand dramatically in the next years, owing to the strong e-commerce sector and the advantages of thin wall plastic containers over conventional plastic containers.
Tremendously expanding retail channels supporting application in ready-to-eat meals and bakery and confectionery products is expected to create immense opportunities for the thin wall plastic containers market in the forecast period
Retail continues to be one of the leading users of thin-walled plastic containers for food packing. Thin wall plastic container demand is predicted to expand dramatically in the next years, owing to the strong retail sector and the advantages of thin wall plastic containers over conventional plastic containers. The developed logistical infrastructure has also aided the retail sector's come back to some extent. People's increased disposable income is predicted to create immense opportunities for thin-walled plastic containers around the world. Transportation of goods from warehouses to retailers is one of the key difficulties of employing thin wall plastic containers for packaging. The risk of breakage and contamination before the stored products can be used is substantial with typical plastic containers. When food is packaged in thin-walled plastic containers, the risk of contamination and damage is reduced. Furthermore, thin wall plastic containers are generally appreciated in the catering and retail industries due to their inherent advantages of superior stacking ability and durability.
COVID-19 Impact Analysis
COVID-19 had a positive effect on the market in 2020. The COVID-19 problem has pushed e-expansion commerces to new enterprises, customers, and product categories. Clients have been able to access a wide choice of items from the comfort and safety of their own homes. In contrast, businesses have been able to continue operating despite contact limits and other restrictions. Despite persisting cross-country discrepancies, the COVID-19 issue has increased dynamism in the e-commerce sector. The pandemic has broadened e-commerce, especially through new enterprises, customer segments, and items (e.g., groceries), leading to improved thin wall plastic container demand.
Segment Analysis
The global thin wall plastic container market is segmented on type, production process, material application, and region.
The polypropylene segment is expected to build the largest share of the thin wall packaging market due to the excellent stiffness, heat resistance, steam barrier qualities (food protection), elasticity (film and fibre applications)
In terms of material, the thin global wall plastic container market is segmented into polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET), polystyrene (PS)and polyvinyl chloride (PVC). Out of all the mentioned types, the polypropylene segment is projected to account for the largest share of the thin wall packaging market in the forecast period due to the excellent stiffness, heat resistance, steam barrier qualities (food protection), elasticity (film and fibre applications), increased transparency, and strong impact and rigidity balance afforded by polypropylene thin-walled products. Furthermore, for the manufacture of packaging and home appliances, particularly thin-walled parts, polypropylene copolymers with medium flow qualities offer a balanced mix of product qualities and processing conditions, leading to improve the market for the segment in the recent period.
Geographical Analysis
The government's many measures against food safety processes have resulted in a change of the region's food safety legislation, encouraging businesses to hunt for a better option in terms of packaging materials, consequently increasing demand for thin-wall plastic container packaging in the Asia-Pacific region
Asia-Pacific holds the highest market share for thin wall plastic containers in the recent period. The government's many measures against food safety processes have resulted in a change of the region's food safety legislation, encouraging businesses to hunt for a better option in packaging materials, consequently increasing demand for thin-wall packaging in the region. For example, China changed its food safety law, with Article 1 to ensure food safety and public health and life safety, and Article 2 defines the parties responsible. One of them is the manufacturing and distribution of food packaging materials, containers, detergents, disinfectants, and the tools and equipment used in food manufacturing and distribution. Furthermore, one of the major reasons driving the growth of the thin wall packaging market over the forecast period is the improving economic climate and higher spending by individuals in the region.
Competitive Landscape
The thin wall plastic container market is highly fragmented with the presence of local and global companies. Some of the key players contributing to the market's growth include Reynolds Group, ILIP Srl, Mold-Tek Packaging, Greiner Packaging International, Double H Plastics, Amcor, Berry Global, Silgan Holdings, PACCOR, RPC Group and others.
The major players adopt several growth strategies such as product launches, acquisitions and collaborations, contributing to the thin wall plastic container market's growth globally. The key manufacturers are following expansion and collaboration as the key strategy to build revenue for the company.
- For instance, in August 2018 - Berry Global Group, Inc. has announced to acquire Laddawn, Inc., a manufacturer of blown polyethylene bags and films with a unique-to-industry e-Commerce sales platform. A move will aid Berry Global Group in supporting small order fulfilment for the company's rapidly growing small and medium-sized customer base and providing speedier customer response times.
Amcor plc
Overview: Amcor plc is an Australian-American, with UK-domiciled packaging company. The company develops and produces flexible packaging, speciality cartons, rigid containers, closures and services for pharmaceutical, medical device, food, beverage, home and personal care, and other products
Key Development:
- In August 2018, Amcor Limited acquired Bemis Company, Inc. (US), under which Amcor would acquire Bemis in an all-stock combination. The deal is projected to be worth USD 6.8 billion and will be completed in the first quarter of 2019. This deal aims to increase its R&D capabilities and its regional presence to meet the growing demand for sustainable packaging. Amcor shareholders would own 71 per cent of the combined business under this deal, while Bemis owners would own 29 per cent.
The thin global wall plastic container market report would provide approximately 67 market data tables, 69 figures, and 180 pages.
