Thin Wall Packaging Market is anticipated to grow at 4.10% CAGR by forecast 2023
Summary
Global Thin Wall Packaging Market Research Report by Product Type (Tubs, Cups, Trays, Jars, Clamshells, Pots, Lids), Material (Polypropylene, High Density Polyethylene, Polyethylene Terephthalate, Polystyrene, Polyvinyl Chloride, and Others), Production Process (Injection Molding, Thermoforming, and Others), Application (Food & Beverages, Electronics, Cosmetics and Others), By Region (North America, Europe, Asia-Pacific and Rest-of-the-World) - Forecast to 2023
Market Scenario
With the rising demand from the food and beverage industry, changing lifestyle, growing urban population, and increasing disposable income, the global market for thin-wall packaging is set to flourish. The demand for packaged food has augmented among consumers, especially among the working population in recent years.
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Key Players
The key players of the global thin wall packaging market comprise Amcor Limited (Australia), Reynolds Group Holdings (Auckland), Berry Global Inc. (The U.S.), RPC Group PLC (U.K.), Silgan Holdings (The U.S.), Mold-Tek Packaging (India), Double H Plastics (The U.S.), Ilip SRL (Italy), Greiner Packaging International GmbH (Austria), and Groupe Guillin (France).
Regional Analysis
The global Thin Wall Packaging Market span across four major regions namely - North America, Europe, Asia Pacific, and Rest-of-the-World.
Asia Pacific is considered to lead the global market and is estimated to grow at the fastest rate. The growth is attributed to the rapid industrialization, increasing middle-class income, and penetration of the e-commerce industry in this region. Also, the growing demand for ready-to-make products especially among the working population is presumed to drive the market in this region. The demand for sustainable packaged solutions from the food and beverage industry is further expected to augment the market growth. Europe, on the other hand, is likely to project substantial demand due to economic development, expansion of foodservice packaging industry, and growing consumption for packaged food products.
Segmentation Analysis
Based on the production process, the global thin wall packaging market has been segmented into injection molding, thermoforming, and others. Among these, the injection molding leads the global market and is considered to exhibit the fastest growth rate.
Based on application, the global thin wall packaging market has been segmented into food & beverages, electronics, cosmetics, and others. Among these, the food & beverages application leads the global market and is considered to exhibit the fastest growth rate.
Research Methodology
Data analysts at MRFR ensure an objective analysis of the market while preparing market research reports by following set of standards which allow a comprehensive view of the market and its several components. Several factors comprising economic growth, government expenditure, supply channels and distribution channels have been scrutinized to relay precise information.
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