Thin Wall Plastic Containers Market Snapshot
As the world is transitioning towards sustainable packaging solutions, the demand for thin wall containers is on the rise. Future Market Insights (FMI) forecasts that the thin wall plastic container market will experience a year-on-year growth rate of 5.3% in 2021. The global sales of thin wall plastic containers are forecast to grow up to 307,885 Mn units in 2021.
As per Future Market Insights (FMI) analysis, the thin wall plastic containers market worth will reach US$ 32.2 Bn in 2021. Overall thin wall plastic container sales are expected to grow at a CAGR of 5.6% between 2021 and 2031.
North America leads the thin wall plastic containers market as a result of increasing demand for plastic containers in food and beverage industry. The North America market is set to register a CAGR of around 4.1% during the forecast period.
Key Points Covered in Thin Wall Plastic Containers Market Study
- Market Estimates and Forecast 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Thin Wall Plastic Containers Market and How to Navigate
- Recommendation on Key Winning Strategies
2016-2020 Thin Wall Plastic Containers Market Demand Outlook in Comparison to 2021-2031 Forecast
The thin wall plastic containers market is expected to grow at a CAGR of around 5.6% between 2021 and 2031 in comparison to 4.7% CAGR registered in 2016-2021. Growing demand for light and transparent containers across various industries is set to accelerate the sales of thin wall plastic containers during the forecast period.
The increasing utilization of thin wall plastic containers in food and beverages, pharmaceuticals and FMCG segment is propelling the growth of the market. Growing consumer preference for well-packaged products is fueling the demand for thin-walled plastic containers.
Rising demand for lightweight packaging is positively influencing the thin wall plastic containers market. Additionally, the increasing usage of thin wall plastic containers in households for storage purposes is further augmenting the demand for these containers.
With the increasing penetration of e-commerce in the food and beverages industry, there has been an increase in the consumption of packaged products, and in order to protect these products from damages and contamination, thin wall plastic containers are being adopted.
The exceptional features of thin wall plastic containers such as temperature resistance, impact resistance, enhanced transparency, lightweight and low cost makes them an ideal choice for packaging applications.
Spurred by the expansion of bakery, retail and ready to eat food industries, the demand for thin wall plastic containers is expected to witness substantial growth over the forecast period.
Companies operating in the global thin wall plastic containers market are continuously investing in the expansion of their product portfolio as well as their distribution networks. They have adopted various strategies such as mergers and acquisitions, development of new products and collaborations to gain a competitive edge in the market.
For instance, in 2020 SABIC collaborated with KraussMaffeis Nestal Brand to launch thin wall packaging application center in Switzerland. Similarly, in 2018 Milacron and IMFLUX signed a distribution agreement through which Milacron will integrate IMFLUX into their injection machine controls with native user interface and screens.
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Application across Diverse Industries Driving Thin Wall Plastic Containers Sales
With the food and beverages and consumer goods industries growing at a substantial rate, the demand for advanced and sustainable packaging is also growing. The need of the hour is for lightweight packaging with demand for the same increasing across several industries. The need to cater to the demands of catering and retail companies has impelled thin wall plastic containers manufacturers to intensify their production capacity and set up new plants.
The growing number of retail and supplier channels is also likely to bode well for the market growth in the long run. The preference of consumers for lightweight packaging is further expected to expand the reach of the market across other sectors and industries.
Food and Beverages to be Leading End-Use Industry with Frozen Foods Topping the List
Thin wall plastic containers are largely employed in the packaging of a variety of eatables in the food & beverage vertical. Thin wall plastic containers have found their application as frozen food packages, dairy containers, bakery packaging, yogurt cups, fruit and vegetable packaging, juice packages, and meal packages among many others. The advantages of thin wall plastic containers over traditional plastic containers has enticed this demand in recent years.
Compared to traditional plastic containers, thin wall plastic containers are freezer, dishwasher and microwave safe. These advantages have also supported the trend of increased preference for frozen foods without any risk of contamination. Moreover, various manufacturers are working on a range of barrier technologies that will ensure the highest level of hygiene for the conservation and palatability of stored frozen food.
Moreover, manufacturers are making these containers more transparent, which will help people know what they are purchasing. Hence, with innovation in the products making them safer, the use of thin wall plastic containers to store frozen food is likely to increase in the coming years.
Expanding Retail Channels Supporting Application in Ready-to-Eat Meals Products
Retail remains one of the largest sectors consuming thin wall plastic containers for packaging of food products. Facilitated by the bullish retail sector and the advantages of thin wall plastic containers over conventional plastic containers, the demand for thin wall plastic containers in the coming years is expected to rise significantly.
The established logistics infrastructure has also to a point added to the recovery of the retail sector. The growing disposable income of people across the world is also expected to add to the demand for thin wall plastic containers. One of the major problems solved by using thin wall plastic containers for packaging is that of transportation of goods from warehouses to retailers.
With traditional plastic containers, the chances of damage and contamination before the stored products can be consumed are high. The chance of contamination and damage is minimized using thin wall plastic containers to package food products.
Furthermore, with the inherent advantages of better stacking ability and durability, thin wall plastic containers are highly preferred in the catering and retail sector. With a rise in the bakery and ready-to-eat food industries, the global thin wall plastic containers market is expected to witness an extensive growth over the coming years owing to the growing demand from these sectors. Thin wall plastic containers are capable of keeping the food products fresh by retaining the moisture in the box.
Key Questions Answered in the Report
How much is the thin wall plastic containers market worth?
The global thin wall plastic containers market is estimated to be worth US$ 32.2 Bn in 2021.
What is the demand outlook of thin wall plastic containers market?
Spurred by the rising demand for lightweight packaging in food and beverage industries, the thin wall plastic containers market is expected to grow at a CAGR of around 5.6% between 2021 and 2031.
At what rate did thin wall plastic containers market grow in the last five years?
The thin wall plastic containers market grew at 4.7% CAGR in the last five years, from 2016 to 2020.
What are the key trends shaping the thin wall plastic containers market?
Increasing adoption of sustainable and transparent packaging solutions by consumers are the key trends prevailing in thin wall plastic containers market.
What is the market share of top 5 players?
The combined share of top 5 players is around 5-8% of the overall market.
What is the North America thin wall plastic containers market outlook?
With the growing demand for plastic packaging, North America market is expected to register a CAGR of around 4.1% during the forecast period.
At what rate will the thin wall plastic containers market grow in Europe?
The thin wall plastic containers market in Europe is expected to register a CAGR of around 3.4% between 2021 and 2031.
Which countries are the key producers of thin wall plastic containers?
The U.S., China, India, France and Japan are the key producers of thin wall plastic containers market.
Which are the key exporters of thin wall plastic containers?
The key exporters of thin wall plastic container are the U.S., China, India, Japan and Germany.
What is the thin wall plastic containers market statistics in South Korea and Japan?
As per newly released data by FMI, market share value of Japan and South Korea was around 17% and 11% respectively in East Asia region.
Thin Wall Plastic Containers Market: Segmentation
- Boxes & Bins
- Thin Wall Pails
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene (PE)
- High-density Polyethylene (HDPE)
- Low-density Polyethylene (LDPE)
- Polyethylene Terephthalate (PET)
- Vacuum Technology
- Injection Molded Technology
- North America
- Latin America
- Eastern Europe
- Western Europe
- Middle East and Africa
- Asia Pacific
- Dairy Products
- Frozen Foods
- Fruits and Vegetables
- Bakery and Confectionery
- Juices and Soups
- Meat, Seafood and Poultry
- Ready-to-eat Meals
- Personal Care and Cosmetics
- Paints, Lubricants and Adhesives