Market Size of Thin Wall Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thin Wall Packaging Market Analysis
The thin wall packaging market was valued at USD 38.58 billion in 2020 and is expected to reach USD 55.92 billion by 2026, at a CAGR of 6% over the forecast period 2021 - 2026. The changing social and demographics coupled with the increase in the growing per capita income are some of the factors which are influencing the packaging industry on a greater scale.
- The increasing need for lightweight packaging coupled with an increase in the working population is some of the important factors that are responsible for fueling the demand for the thin wall packaging throughout the forecast period.
- The rise of e-commerce in the food and beverages have resulted in the increased consumption of the packaged goods that require packaging which could protect the products from contamination and damages. This trend is expected to boost the market over the forecast period.
- With the increasing research and development activities by the players in the packaging industry has resulted in the launch of innovative thin wall packaging products.
- For instance, in October 2018, Milacron Holdings Corp. a leading industrial technology company serving the plastics processing industry with a product brand named MOLD-MASTERS announced the launch of the new ThinPAK-Series thin-wall hot runner specifically designed for high-pressure applications like thin wall packaging.
- However, since the stringent regulations imposed on the packaging materials like plastics by the economies is expected to hinder the growth of the thin wall packaging products over the forecast period.
Thin Wall Packaging Industry Segmentation
Thin wall packaging is responsible for the protection of the products that are contained in it from contamination or damages, thereby playing an important role for any product-based firm.The Thin wall Packaging Market is segmented by Type (Tubs, Cups, Pots, Jars, Trays), By Packaging Materials (Polystyrene (PS), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyethylene (PE)) End-user Industry (Food & Beverages, Cosmetics, Pharmaceutical, Other End-user Industries), and Geography.
| By Type | |
| Tubs | |
| Jars | |
| Pots | |
| Cups | |
| Trays |
| By Materials | |
| Polypropylene (PP) | |
| Polyethylene Terephthalate (PET) | |
| Polystyrene (PS) | |
| Polyethylene (PE) | |
| Polyvinyl Chloride (PVC) |
| By End-user Industry | |
| Food & Beverage | |
| Cosmetics | |
| Pharmaceutical | |
| Other End-user Industry |
| Geography | ||||||||
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Thin Wall Packaging Market Size Summary
The thin wall packaging market is experiencing significant growth, driven by factors such as increasing per capita income and the rising demand for lightweight packaging solutions. The market is benefiting from the expansion of e-commerce, particularly in the food and beverage sectors, which has heightened the need for packaging that ensures product safety and integrity. Innovations in packaging technology, such as the development of new thin wall packaging products by industry players, are further propelling market expansion. However, the market faces challenges due to stringent regulations on packaging materials like plastics, which could potentially impede growth.
The beverage industry's rising transportation costs for glass bottles have made thin wall plastic containers an attractive alternative, offering cost-effective and lightweight solutions. The introduction of new copolymers for food industry applications is also contributing to market demand. Government initiatives aimed at enhancing food safety have led to revised laws that encourage the use of advanced packaging materials, boosting the thin wall packaging market. The competitive landscape is marked by high rivalry, with key players like Takween Advanced Industries and Berry Global Group investing heavily in research and development, as well as strategic mergers and acquisitions, to maintain their market positions.
Thin Wall Packaging Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.3.1 Rise of E-Commerce
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1.3.2 Increasing Need for Light Weight Packaging
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1.3.3 Increase in the Urban Population
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1.4 Market Restraints
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1.4.1 Stringent Regulations
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1.5 Industry Attractiveness - Porter's Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Industry Value Chain Analysis
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1.7 Technology Snapshot
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1.7.1 Thermoforming
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1.7.2 Injection Molding
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Tubs
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2.1.2 Jars
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2.1.3 Pots
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2.1.4 Cups
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2.1.5 Trays
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2.2 By Materials
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2.2.1 Polypropylene (PP)
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2.2.2 Polyethylene Terephthalate (PET)
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2.2.3 Polystyrene (PS)
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2.2.4 Polyethylene (PE)
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2.2.5 Polyvinyl Chloride (PVC)
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2.3 By End-user Industry
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2.3.1 Food & Beverage
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2.3.2 Cosmetics
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2.3.3 Pharmaceutical
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2.3.4 Other End-user Industry
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 Australia
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2.4.3.4 India
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of Latin America
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2.4.5 Middle-East & Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 South Africa
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2.4.5.4 Rest of Middle-East & Africa
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Thin Wall Packaging Market Size FAQs
What is the current Thin Wall Packaging Market size?
The Thin Wall Packaging Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Thin Wall Packaging Market?
Berry Global Inc., Sem Plastik Sanayi Ve Ticaret A S, Greiner Packaging International GmbH, Takween Advanced Industries and DOUBLE H PLASTICS, INC. are the major companies operating in the Thin Wall Packaging Market.
