Increase in food and beverages consumption fleet the demand for thin wall containers in market. The global market for food and beverages is expected to grow from approx. $5800 billion in 2020 to almost $6200 billion by the end of 2021.
This growth is mainly seen due to the strategic operation of companies to recover from the COVID-19 impact, which was earlier restricted by the COVID-19 measures such as remote working, social distancing, and the closure of commercial activities.
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The market is expected to reach $8100 billion by the end of 2025. Seeing the growth of food and beverages market, the demand for advanced and sustainable packaging such as thin wall containers is expected to grow. The overall market for thin wall containers is estimated to register the moderate single digit growth for the period of 2021 to 2031.
What Factors are Influencing Thin Wall Containers Market?
The global thin wall container market is majorly driven by increasing demand for lightweight packaging due to growing food & beverage industry.
Factors such as changing lifestyle like on-the-go food consumption, rising levels of disposable income of the people, initiatives by the government against food safety procedures, rising preference for lightweight containers, demand for convenient and user-friendly packaging are some of the key factors which are likely to fleet the growth of thin wall containers market in near future. These factors influence the companies to look for a better option in terms of packaging materials.
What is the Market Potential of Thin Wall Containers Market?
An increase in the disposable income as a result of increased per capita income has resulted in allowing people to afford imported food products, in turn, fueling the growth of the thin wall containers market. Retail sector remains one of the largest sectors consuming thin wall containers for packaging of food products with the bullish demand as compared to conventional plastic containers.
The light weight and cost effective thin wall containers offers an effective solution to reduce the transportation cost. The rise of e-commerce in the food and beverages (food delivery) has resulted in the increased consumption of the packaged food products that require use of thin wall containers to protect the products from contamination and damages. This trend is expected to fuel the thin wall containers market in the near future.
Thin Wall Containers Market Segmentation
The global market for the thin wall containers is segmented into its product type, material type, manufacturing technology, and the end-user industry.
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Based on the type of the product, the thin wall container market is segmented into:
Based on the type of the material, the thin wall container market is categorized into:
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
Based on the manufacturing technology, the thin wall container market is categorized into:
- Vacuum formed technology
- Injection molded technology
Based on the end-user industry, the thin wall container market is divided into:
- Others (industrial, pharmaceuticals, and cosmetics & personal care)
Based on the region, the thin wall container market is divided into:
- Asia Pacific
- North America
Which are the Potential Segments for Thin Wall Containers Market?
As polystyrene can cause critical environmental concerns it has been banned from key countries. The largest share of thin wall containers market is derived solely by polypropylene both in terms of volume and value. This is because of the various benefits attached with its usage such as, heat resistance due to its high melting point, enhanced transparency, high stiffness and food protection by controlling steam.
The injection molding of thin walled containers requires four essential things: maximum acceleration, maximum speed, high injection pressure and maximum precision. Only when these four factors works optimally, high quality parts can be achieved.
The major benefits attached with injection molding technology includes faster production speed, optimal production, low production cost, and uniformity. In comparison, the thermoforming segment is projected to register declining growth, in terms of volume. It is majorly used in manufacturing of polystyrene thin wall products.
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