The report "Thin Wall Packaging Market by Product Type (Tubs, Cups, Jars, Trays, Clamshells, Lids, Pots), Production Process (Thermoforming, Injection Molding), Material (PP, PE, PET, PS, PVC), Application (Food, Beverages), and Region - Global Forecast to 2023" The thin wall packaging market is expected to grow from USD 42.8 billion in 2018 to USD 53.7 billion by 2023, at a CAGR of 4.64%. Rising demand for packaged food coupled with a growing preference for customer-friendly and lightweight packaging and cost-effectiveness drive the demand for thin wall packages. Furthermore, the increase in demand from the food & beverage industry and the aesthetic appeal of thin wall packaging further boost its market growth.
Europe is expected to dominate the demand for thin wall packaging through 2023. This market position is attributed to the increased demand for convenient, eco-friendly, and visually appealing packaging, along with the expansion of retail chains in this region. The market for thin wall packaging in Europe is also supported by improvements in the economy, the rise in domestic demand for food products & exports, and an increase in the consumption of packed food products. Moreover, the focus on reducing packaging waste and food waste is also expected to drive the market for thin wall packaging in Europe.
Key players operating in the thin wall market include Amcor (Australia), Berry Global (US), Silgan Holdings (US), PACCOR (Germany), RPC Group (UK), Reynolds (New Zealand), ILIP Srl (Italy), Mold-Tek Packaging (India), Greiner Packaging (Austria), and Double H Plastics (US).
