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.
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.
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.
What is the Regional Standpoint in Thin Wall Containers Market?
In 2020, Asia Pacific was the largest region in the global food and beverages market, accounting almost 40% of the market. Due to the improved economic environment and the increased spending by the people in the region, there is a huge market potential for thin wall containers market. Europe is projected to lead the market, in terms of demand, through the improvements in the regional economy and the rising number of retail food chains. North America was the second largest region accounting for around 22% of the global food and beverages market, dominating the thin wall containers market due to its highest demand for plastic packaging. Africa was the smallest region in the global food and beverages market. Australia and New Zealand showed an increase in population which fueled the demand for consumables like convenience packages, packaged drinking water etc., rising the demand for thin wall containers.
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.
The manufacturers of the thin wall containers are making use of several materials such as the packaging solution for improving the benefits of packaging. They have an ability to foresight and predict the needs & wants of the market and innovate the products accordingly which gave them a competitive advantage over other market players. Large investments in research and development allowed them to stamp a strong footprint in the market.
As an innovation to the industry, Plastemart have developed thin walled containers that are mostly preferred as deep freeze containers. These containers are designed specially in order to store ice creams and can resist temperatures ranging from -15°C to -30°C. The size of the container is 500 ml and 1000 ml. Also NISSEI Plastic Industrial Co., Ltd. came up with a new technology to mix supercritical carbon dioxide into molten PLA to improve the fluidity of injected material. It makes injection molding of the world’s thinnest level (0.65mm) thin wall container possible while achieving super high transparency.
Impact of COVID-19 on thin wall containers market
The outbreak of the COVID-19 has acted as a massive restraint on the use of thin wall containers. This is due to the decline in food and beverages consumption as a result of lockdown imposed by governments. A disruption in supply chain was seen due to the trade restrictions. As many governments restricted the movement of goods across nations, manufacturers dependent on outsourcing of raw materials had to halt production. However, the food and beverages market has started recovering the shock of COVID-19 with the help of home delivery and cloud kitchens using thin wall containers as a packaging means.
The research report presents a comprehensive assessment of thin wall containers market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report of thin wall containers market provides analysis and information according to the different market segments such as end-use, type, sales channel and region.
Thin wall containers market report covers exhaustive analysis on:
- Market Segments of thin wall containers market
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends / Issues / Challenges
- Competition & Companies Involved
- Value Chain of thin wall containers market
Regional analysis includes:
- North America (U.S, Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia, Rest of South Asia)
- East Asia (China, Japan, South Korea)
- Oceania (Australia, New Zealand)
- Middle East (GCC Countries, Israel, Turkey, Egypt, Rest of Middle East)
- Africa (Nigeria, South Africa, Algeria, Morocco, Rest of Africa)
The thin wall containers market report is a compilation of first-hand information, qualitative and competitive assessment industry analysts, and inputs from industry experts and industry participants across the value chain. The report for thin wall containers market provides an in-depth analysis of the parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of thin wall containers market.
- Changing market dynamics in thin wall containers market.
- In-depth thin wall containers market segmentation.
- Historical, current, and projected market size in terms of volume and value.
- Recent industry trends and developments in the thin wall containers market.
- Competitive landscape.
- Strategies of key players and products offered.
- Potential and niche segments, geographical regions exhibiting promising growth for thin wall containers market.
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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