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.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the global thin wall packaging market. These approaches were also used extensively to estimate the size of various dependent subsegments in the market. The research methodology used to estimate the market size includes the following details:
- The key players were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
On the basis of application, the thin wall packaging market has been categorized as follows:
- Food
- Beverages
- Others (pharmaceuticals, cosmetics & personal care, and industrial)
On the basis of region, the thin wall packaging market has been categorized as follows:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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The polypropylene segment is expected to dominate the thin wall packaging market through 2023
The polypropylene segment is projected to account for the largest share of the thin wall packaging market, in terms of value and volume, from 2018 to 2023. This is attributed to various benefits offered by polypropylene thin walled products, such as high stiffness, heat resistance, steam barrier properties (food protection), elasticity (film and fiber applications), enhanced transparency, and strong impact and rigidity balance.
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