Thin Wall Packaging Market Will Reach USD 68.26 Billion By 2030
Market Dynamics:
The size of the global
thin wall packaging market reached USD 40.82 billion in 2021 and is
projected to exhibit a revenue CAGR of 5.9% during the forecast period. The
market growth is driven by several factors, including the increasing demand for
packaged food, particularly among the working population, and the rising
popularity of consumer-friendly packaging solutions that require thin wall
packaging. The growth of e-commerce in the food and beverages industry has also
contributed to the increased consumption of packaged goods, further driving the
market revenue. Thin wall packaging, referring to plastic packaging or parts
with a wall thickness of less than 0.8 mm, is extensively used in various
sectors such as dairy, frozen goods, fruits and vegetables, bakeries, ready
meals, juices, soups, and meats, which has bolstered the market growth.
Thin wall packaging offers advantages over glass and cans,
such as reduced weight and design flexibility, making it a preferred choice for
products like meat and preserves. The packaging of frozen and fresh food,
paint, glue, cosmetics, and medications in open-top plastic containers has also
contributed to the market growth. The demand for different types of packaging,
including plastic clamshell trays, blisters, and lidding film, produced using
the thin-gauge thermoforming method, has further driven the revenue growth of
the thin wall packaging market. Thermoforming provides sturdy and tamper-proof
packaging options that allow for unique branding and protect against
contamination, supporting market growth.
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Market Drivers: The primary driver of market revenue growth
is the increasing demand for lightweight and customer-friendly packaging. Thin
wall packaging offers high efficiency due to its excellent organoleptic
properties, good flowability, shorter cycle times, balanced mechanical
characteristics, and cost-effective production method. These containers come in
various shapes, sizes, and colors to cater to different preferences, and
personalized printing is also available. They can be used to package a wide
range of items, making them versatile and appealing for various purposes. The
containers are constructed using materials like polypropylene, polystyrene, and
polyethylene terephthalate, which are lightweight, portable, and resistant to
damage, further driving market revenue growth. Moreover, the demand for thin
wall packaging solutions has increased due to their ability to protect goods
from physical damage and contamination during transportation. These packaging
options are stackable, lightweight, and support sustainable growth by reducing
carbon emissions and fuel usage.
Market Restraint: Stringent government regulations regarding
the use of non-biodegradable plastics and other food packaging materials have
posed a significant challenge to the market's revenue growth. Organizations
like the Food and Drug Administration (FDA) have enforced food safety
regulations that have limited market expansion to some extent. Additionally,
growing public awareness of the negative environmental impact of plastics has
led to a demand for more eco-friendly packaging materials, hindering the
revenue growth of the thin wall packaging market.
COVID-19 Analysis: The global thin wall packaging market
experienced a setback due to the COVID-19 pandemic but has since recovered
significantly. The temporary closure of retail stores, shops, and restaurants
resulted in a significant loss for the thin wall packaging industry. The
implementation of lockdown measures worldwide led to a decrease in the
consumption of commercially available food and drinks, which negatively
impacted the market revenue. Moreover, disruptions in the supply chain and
labor shortages caused by the pandemic further affected the market.
Thin Wall Packaging
Market: Drive factors
The thin wall packaging market is driven by several factors,
including:
1. Rising demand for lightweight and
customer-friendly packaging: Thin wall packaging offers maximum efficiency due
to its organoleptic qualities, good flowability, shorter cycle times, balanced
mechanical characteristics, and cost-effective production method. It provides a
wide range of design possibilities, including personalized printing, and is
available in various colors, sizes, and forms. The lightweight and portable
nature of thin wall plastic containers makes them convenient for customers,
driving market growth.
2. Increased consumption of packaged
goods: The demand for packaged food, especially among the working population,
has been on the rise. Thin wall packaging caters to this demand by providing
convenient and protective packaging for various food items such as yogurt cups,
frozen goods, ready meals, juices, soups, and meats. The growth of e-commerce
in the food and beverage sector has further increased the consumption of
packaged goods, boosting the market for thin wall packaging.
3. Replacement of glass and cans: Thin
wall packaging is increasingly being used as a replacement for traditional
packaging materials like glass and cans. This substitution helps reduce weight,
offers design flexibility, and enhances the overall appeal of the packaged
goods. It is particularly beneficial for products such as meat and preserves.
This trend drives the market growth for thin wall packaging.
Overall, the increasing demand for lightweight,
customer-friendly, and sustainable packaging, coupled with the growth of the
packaged food industry and the need for specialized packaging solutions, are
the primary driving factors for the thin wall packaging market.
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