Thin Wall Packaging Market Size Worth USD 68.26 Billion 2030| CAGR of 5.9%

Market Dynamics The global thin wall packaging market was valued at USD 40.82 Billion in 2021 and is projected to witness a revenue CAGR of 5.9% during the forecast period. The market growth is primarily driven by several factors, including the rising demand for packaged food, especially among the working population, and the increasing popularity of consumer-friendly packaging solutions. The growth of e-commerce in the Food & Beverages (F&B) sector is also contributing to the increased consumption of packaged goods, thereby driving the demand for thin wall packaging. Thin wall packaging refers to plastic packaging or parts with a wall thickness of less than 0.8 mm (0.031 inches) and finds applications in various sectors, such as dairy products, frozen goods, fruits, vegetables, ready meals, and more.

One of the key drivers for the market is the adoption of thin wall packaging as a substitute for glass and cans in various products like meat and preserves. This trend is leading to reduced weight and offering new design possibilities, which is fueling market growth. Additionally, thin wall plastic containers are widely used for storing frozen and fresh food, paint, glue, cosmetics, and medications, further contributing to the market's revenue growth.

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The increasing demand for different types of packaging, such as plastic clamshell trays, blisters, and lidding films produced using the thin-gauge thermoforming method, is another factor propelling the market forward. Thermoforming provides sturdy, tamper-proof packaging, offering various options for unique branding to stand out in the retail environment. Moreover, the use of thermoformed packaging helps protect against contamination, supporting the market's revenue growth.

Market Dynamics: Driver: Rising demand for lightweight and customer-friendly packaging The demand for lightweight and user-friendly packaging is a significant driver of market revenue growth. Thin wall packaging offers excellent efficiency due to its organoleptic qualities, good flowability, short cycle times, balanced mechanical characteristics, and cost-effective production method. These containers come in various shapes, colors, and sizes, catering to individual preferences. They are versatile and can be used to package a wide range of items, making them appealing for different purposes.

Thin wall packaging is constructed using materials like polypropylene, polystyrene, white polypropylene, and others, which can be made translucent and colored. Polyethylene terephthalate (PET) is another material used for thin wall packaging, known for its resistance to acids and scratches. Being lightweight and portable, thin wall plastic containers are favored by consumers.

Moreover, the demand for thin wall packaging solutions is driven by their ability to protect goods from physical damage and contamination during transportation. The stackability, lightweight nature, and other features of thin wall packaging contribute to reducing carbon emissions and supporting sustainable growth.

Restraint: Stringent Government Regulations Stringent government regulations concerning the use of non-biodegradable plastics and other materials in food packaging are major obstacles to market revenue growth. Food safety regulations enforced by organizations like the Food and Drug Administration (FDA) have slowed the expansion of the market. Growing public awareness about the negative environmental impacts of plastics is also leading to increased demand for eco-friendly packaging materials, hindering the growth of the thin wall packaging market.

COVID-19 Analysis: The global thin wall packaging market experienced setbacks due to the COVID-19 pandemic but has since recovered significantly. The temporary closure of retail stores, shops, and restaurants led to a substantial loss for the thin wall packaging industry. The implementation of lockdowns globally resulted in reduced consumption of commercially accessible food and beverages, negatively impacting market revenue growth. Furthermore, disruptions in the supply chain caused by labor shortages and other issues affected companies that rely on outsourcing of raw materials.

Key Takeaways: Product Type Outlook: The thin wall packaging market is segmented based on product type into tubs, cups, trays, jars, clamshells, pots, and lids. Among these, the jars segment is expected to witness significant revenue growth. Jars are popular containers for storing simple dry and wet food items due to their lightweight and convenience of use. They are in high demand in the food packaging industry, including confectioneries, bakery items, ketchup, mayonnaise, personal care products, cosmetics, and medicines. The larger design of jars allows them to accommodate more space, making them suitable for storing medications and fluids.

Production Process Outlook: The market is segmented by production process into injection molding and thermoforming. Injection molding is anticipated to register substantial revenue growth due to its ability to produce large quantities of identical plastic components with acceptable tolerances at a reasonable cost. On the other hand, thermoforming offers better options for producing thin-walled containers. Thermoformed products, such as trays, blisters, and clamshells, are gaining popularity and driving revenue growth in this segment.

Application Outlook: Based on application, the market is segmented into Food & Beverage, cosmetics, pharmaceutical, and others. The Food & Beverage segment held the largest revenue share in 2021, driven by the rising demand for easy-to-consume and pre-packaged food items. Thin wall packaging is used extensively in this segment to protect goods from external contamination and physical damage during transportation. The segment's growth is also supported by the increasing demand for single-serve and portion-control products, environmental concerns, and the growing consumption of packaged food.

Material Outlook: The market is segmented based on materials into polypropylene, high-density polyethylene and low-density polyethylene, polyethylene terephthalate, polystyrene, polyvinyl chloride, and others. The polyethylene terephthalate segment is expected to witness significant revenue growth, favored for its durability, lightweight, non-reactive properties, affordability, and shatterproof nature. PET is widely used in food & beverages, personal care, pharmaceuticals, and medical sectors. It is commonly used to package products like carbonated soft drinks, water, salad dressings, peanut butter, and various other items.

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