Thin Wall Packaging Market accounted for US$ 46.26 billion in 2020 and is estimated to be US$ 70.48 billion by 2030 and is anticipated to register a CAGR of 4.30%. Thin wall packaging is a type of packaging solution which supports in protecting products & goods. Thin wall packaging includes cups, trays, tubs, clamshells, and plastic jars render a way of supplying consumer appeal, convenience, and merchandise protection, while reducing the carbon footprint versus more traditional materials, like glass or metal. This helps to protect products and goods from contamination and physical damage during transportation.
The report " Global Thin Wall Packaging Market, By Product Type (Tubs, Cups, Jars, Trays, Clamshells, Lids, Pots), By Production Process (Thermoforming, Injection Molding), By Material (PP, PE, PET, PS, PVC), By Application (Food, Beverages), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
· On 6 May 2021, SABIC and KraussMaffei launched thin-wall packaging collaboration, and also expanded Thin-Wall Packaging Application Center in Nafels, Switzerland, the site of KraussMaffei's Swiss subsidiary and manufacturer of high-performance injection molding systems known under the Netsal brand.
· In November 2017, RPC Superfos launched an innovative spoon-in-the-lid solution for yogurts, desserts, and other dairy products, this lid is especially useful for consumers who eat on the go.
Analyst View:
The increasing demand from the changing lifestyle, food & beverage industry, growing urban population, and rising disposable income, the global market for thin-wall packaging is set to flourish. The demand for food has augmented among consumers, especially among the working population in recent years. The increasing preference for lightweight, cost-effective, customer-friendly packaging is a support to the growth of the market. Strict mandates imposed on food packaging and its raw materials are major concerns presumed to retard the market growth during the forecast period. However, strict environmental regulations by the government are considered to impede market growth in the coming years.
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Key Market Insights from the report:
Global Thin Wall Packaging Market accounted for US$ 46.26 billion in 2020 and is estimated to be US$ 70.48 billion by 2030 and is anticipated to register a CAGR of 4.30%. The Global Thin Wall Packaging Market is segmented by Product type, Production process, Material, Application, and Region.
· By Product type, Global Thin Wall Packaging Market is segmented into Tubs, Cups, Jars, Trays, Clamshells, Lids, and Pots.
· By Material, Global Thin Wall Packaging Market is segmented into PP, PE, PET, PS, PVC.
· By Region, Global Thin Wall Packaging Market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa.
· By Application, Global Thin Wall Packaging Market is segmented into Food, Beverages
Competitive Landscape:
Key players operating in the global thin wall packaging market includes Amcor, Reynolds Group Holdings, Berry Global Group, RPC Group PLC, Silgan Holdings, Paccor GmbH (Coveris Rigid), Ilip SRL, Mold-Tek Packaging, Greiner Packaging International, AND Double H Plastics.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
