Rising Food and Beverages Consumption Opening Gates for Thin Wall Containers Market
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. 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.
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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. The 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 lightweight and cost-effective thin wall containers offer an effective solution to reduce transportation costs. The rise of e-commerce in food and beverages (food delivery) has resulted in the increased consumption of the packaged food products that require the 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.
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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.
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
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What are the Strategies of Key Players in Thin Wall Containers Market?
Thin wall containers market is dominated by large players such as
- EVCO Plastics
- RPC Letica Corporation
- Borouge Pte Ltd.
- Sunrise Plastics
- Sem Plastik San. Tic. A.S.
- Tederic Machinery Co. Ltd
- Right Industries
- Acmepak Plastic Packaging, Ltd
- Double H Plastics, Inc.
- Rexam Thin Wall Plastics, Ltd., and Bonhomie Plastics Pvt. Ltd.
- Mold-Tek Packaging and Greiner Packaging International.
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