Key Market Insights
“Rising demand for lightweight packaging solutions worldwide will boost market growth”
The global thin wall packaging market is rising significantly, anticipated to expand at a CAGR of 4.5% during the estimated period from 2023 to 2030, starting from US$ 47.32 Bn in 2021.
The global thin wall packaging market is majorly driven by the rising food & beverage industry and growing demand for lightweight packaging. A surge in demand for a consumer-friendly and changing lifestyle are some other factors expected to drive the market in years to come. A rise in disposable income along with the growing demand for thin-wall packaging from developing countries are some other factors responsible for market growth over the forecast period. Growing demand from the packaged food industry is another prominent factor anticipated to enhance market growth during the forecast period. Thin wall packaging has numerous benefits such as low cost, lightweight, easy to use, and others that are expected to support market growth throughout the forecast period. A surge in the need for reducing packaging weight coupled with stringent government regulations for packaged food is some other key factors projected to further enhance the market growth in years to come. Adoption of bio-based and recycled raw materials in the packaging industry is anticipated to boost the market growth over the forecast period.
Production Process Analysis
“Injection molding segment to continue its dominance”
The injection molding segment has a major share in the global thin wall packaging market in 2021. Different benefits of the injection molding production process such as low cost, reduced production time, less wastage, and others are expected to support the segment growth over the forecast period. Uniformity of the injection molding process is anticipated to drive the market in years to come. Therefore, it is estimated that the injection molding segment is projected to continue its dominance in the global market. On the contrary, the thermoforming production process is projected to register a declining CAGR during the forecast period owing to the polystyrene ban in major countries on account of environmental concerns.
End-user Analysis
“Increasing food packaging industry to spur the segment growth”
The food segment dominated the thin wall packaging market in 2021. The segment has its dominance due to growth in the food packaging industry. Growing demand for single-serve and portion control products along with growing environmental concerns and rising packaged food consumption is expected to drive the market over the forecast period. Increased disposable income and changing lifestyles are some other factors expected to further enhance market growth during the forecast period. On the other hand, the beverage segment is anticipated to expand with a substantial share in the global thin wall packaging market over the forecast period (2023-2030) owing to growing health concerns and a surge in the beverage industry in the Asia Pacific.
Regional Analysis
“The rising demand for eco-friendly packaging to spur the Europe growth”
In 2021, Europe has the highest share in the thin wall packaging market and is expected to continue its dominant position over the forecast period. Increased demand for eco-friendly, visually appealing, and convenient packaging in the region are the major factors responsible for regional growth. Expansion of the retail industry coupled with rising domestic food exports is some other factor anticipated to drive regional growth during the forecast period. In addition, a growing focus on the reduction of food waste and packaging waste is projected to drive the growth of Europe. As a result of the aforementioned factors, Europe is expected to continue its dominance throughout the forecast period.
Key Industrial Developments
List of Companies Covered:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Thin Wall Packaging market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
