Thin Wall Packaging Market Worth $53.7 Billion By 2023 | Latest Update

 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.

Protective Packaging Market worth $37.0 billion by 2027 | At A CAGR of 4.31%

 The protective packaging market size is projected to grow from USD 24.3 billion in 2017 to reach USD 37.0 billion by 2027, at a CAGR of 4.31%.

The report "Protective Packaging Market by Material (Foam Plastics, Paper & Paperboard), Type (Flexible, Rigid, Foam), Function (Cushioning, Blocking & Bracing, Void Fill), Application (Food & Beverage, Consumer Electronics), and Region – Global Forecast to 2027"

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Target audience

• Manufacturers of protective packaging
• Importers and exporters of protective packaging
• Traders, distributors, and suppliers of protective packaging
• End users (food & beverage, healthcare, industrial goods, automotive, household appliances, and consumer electronics industries)

Based on application, the market has been segmented as follows:

• Food & beverage
• Health care
• Industrial goods
• Automotive
• Household appliances
• Consumer electronics
• Others

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“Asia Pacific to be the largest share in the protective packaging market by 2027”

On the basis of key regions, the protective packaging market is segmented into North America, Western Europe, Eastern Europe, Nordics, Asia Pacific, South America, Middle East, and Africa. The Asia Pacific region is estimated to account for the largest share among all the regions in 2017, and is projected to grow at the highest rate from 2017 to 2027, in terms of value. This can be mainly attributed to the increase in demand for protective packaging in China and India coupled with the growth in the food & beverage industry in these countries. The urbanized population is shifting its preference to healthy and safe packaged foods owing to the rise in disposable incomes.

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Biodegradable Plastics Market Worth $12.4 Billion By 2027 - MarketsandMarkets (Rising Demand Growth Trend Insights for Next 5 Years)

 The biodegradable plastics market is projected to reach USD 12.4 billion by 2027, at a CAGR of 15.1%.

The report “Biodegradable Plastics Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), End-use Industry (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and Region (APAC, Europe, North America, Row) - Global Forecast to 2027”.

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The growth of the market is attributed to the increasing demand for biodegradable plastics in various end-use industries in emerging economies such as India, China, and Brazil. The increasing adoption of strategies such as new product launches and mergers, acquisitions & partnerships by the key players is also fueling the market.

On the basis of end-use industry, the packaging & bag segment is estimated to lead the biodegradable plastics market during the forecast period.

Packaging & bags is the largest end-use industry of biodegradable plastics. Thermoset plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two types of biodegradable plastics mainly used in the packaging industry. Packaging products made from these plastics are mainly used in the packaging of fresh food, dried snacks & candy, bakery goods, water & juice bottles, and meat trays. Biodegradable plastics are also used as coatings for beverages cups and films & card stock.

Increasing use of PLA in the packaging & bags and consumer goods industry is projected to lead the biodegradable plastics market during the forecast period.

PLA is the largest type segment of the biodegradable plastics market, as it is used in various end-use industries such as packaging & bags and consumer goods. PLA is made from renewable resources, and it is compostable as well as biodegradable. It is derived from corn starch (in the US and Canada), tapioca roots, chips, or starch (mostly in Asia), or sugarcane (in RoW). This makes PLA non-toxic and an environmentally friendly material. Plastic products may take up to thousand years to degrade while PLA products biodegrade within 3–6 months in an industrial composting system. The key applications of PLA are thermoformed products, namely, drink cups, takeaway food trays, containers, and planter boxes. It has good rigidity and allows for replacement of polystyrene and PET in such applications. PLA is being adopted rapidly as it is more economical to manufacture PLA as compared with the synthesis of other biodegradable plastics.

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The increasing use of biodegradable plastics in end-use industries including packaging & bags, consumer goods and agriculture & horticulture is driving the biodegradable plastics market in APAC.

APAC is expected to be the fastest-growing biodegradable plastics market during the forecast period. The growing packaging & bags industry in APAC has offered significant opportunities for the growth of the biodegradable plastics market in the region. The increasing use of biodegradable plastics in various end-use industries, such as packaging & bags, consumer goods, agriculture & horticulture, and textile, is driving the biodegradable plastics market in APAC.

Major players such as NatureWorks (US), BASF (Germany), Total Corbion PLA (Netherlands), Mitsubishi Chemical Corporation (Japan), and Biome Bioplastics (UK) have adopted development strategies such as expansions, mergers, acquisitions & partnerships, and new product launches to achieve growth in the biodegradable plastics market.

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Thin Wall Packaging Market: Rising Demand, Growth, Trend, and Insights for Next 5 Years

 The study involved four major activities to estimate the current market size for thin wall packaging products. Exhaustive secondary research was done to collect information on the market, peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments. 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.

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♦ Recent Developments -

• In August 2018, Amcor Limited announced to acquire Bemis Company, Inc. (US), under which Amcor would acquire Bemis in an all-stock combination. The transaction is expected to be valued at USD 6.8 billion and is expected to close by the first quarter of 2019. This transaction is aimed at increasing the R&D capabilities and expanding its geographical presence to cater to the demand for sustainable packaging. Under this transaction, Amcor’s shareholders would own 71%, while Bemis’ shareholders would own 29% of the combined company.
• In November 2017, RPC Superfos introduced an innovative spoon-in-the-lid solution for yogurts, desserts, and other dairy products. This lid is especially useful for consumers who eat on-the-go.
• In June 2017, RPC Group acquired Astrapak (South Africa), a key manufacturer of molded and thermoformed plastic packaging catering to the African market. This acquisition was aimed to increase RPC Group’s presence in the thin wall packaging market.

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 Asia Pacific thin wall packaging market is projected to register the highest CAGR during the forecast period

The Asia Pacific is projected to be the fastest-growing region in the thin wall packaging market, in terms of value. Key factors such as industrialization, growth in middle-class population, the rise in disposable income, ease of convenient & visible packaging, and the rise in demand for sustainable packed products, especially in the food & beverage sector, are expected to drive the demand for thin-wall packaging in the Asia Pacific during the forecast period. Europe is projected to lead the market, in terms of demand, through the forecast period owing to improvements in the regional economy, the rise in the consumption of packaged food products, growing food service packaging sector, and the rising number of retail chains.

♦ Leading Key Players -

The thin wall packaging market is dominated by large players, such as Amcor (Australia), Berry Global (US), Silgan Holdings (US), PACCOR (Germany), RPC Group (UK), Reynolds Group (New Zealand), ILIP Srl (Italy), Mold-Tek Packaging (India), Greiner Packaging International (Austria), and Double H Plastics (US).

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Sealing & Strapping Packaging Tapes Market worth $22.1 Billion by 2023 - MarketsandMarkets

 The report "Sealing & Strapping Packaging Tapes Market by Material (PP, Paper, PVC), type of adhesive (Acrylic, Rubber-based, and Silicone), Applications (Carton sealing and Strapping & bundling), and Region - Global Forecast to 2023", The sealing & strapping packaging tapes market is projected to grow from USD 17.4 billion in 2018 to USD 22.1 billion by 2023, recording a CAGR of 4.89%. The rising demand for carton sealing tapes in the packaging industry, due to its wide range of applications including carton sealing, bundling, unitizing, pelletizing, and general packaging is projected to drive the demand for sealing & strapping packaging tapes. Furthermore, these tapes are economical alternatives to plastic and metal sealing & strapping tapes, which is further projected to boost its market growth.

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♦ Recent Developments

• In November 2018, Intertape Polymer Group acquired the control of a 29% stake for USD 9.9 Million in Powerband (India). Acquiring a controlling interest in Powerband in 2016 provided the company with additional capacity for acrylic carton-sealing tapes in a low-cost manufacturing region to export these competitively-priced tape products to North America and Europe. Since then, having the overseas asset has enabled IPG to expand its market share in North America and negotiate better terms on raw materials for the US production of similar packaging tapes.

Asia Pacific to dominate the market during the forecast period.

China was the largest market for sealing & strapping packaging tapes, globally. The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. The key factors driving the growth of the Asia Pacific sealing & strapping packaging tapes market include the booming packaging industry in countries such as China, India, Vietnam, Indonesia, and Japan, cheap labor cost, and availability of domestically produced raw materials. In addition, the growing demand for sealing & strapping packaging tapes in China, Japan, and India is driving by the ever-increasing awareness of sustainable and economical packaging, and rising disposable income is expected to create opportunities for the sealing & strapping packaging tapes market in the region.

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By Application,

• Carton Sealing Tapes
• Strapping & Building

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In-depth Analysis of the COVID-19 Impact on Sustainable Packaging Market

Stringent regulations regarding sustainability, coupled with changing preferences towards more sustainable packaging materials are some of the major factors for growth of the sustainable packaging industry. Degradable packaging is the fastest-growing process in the sustainable packaging market. In the material segment, paper & paperboard packaging is projected to grow at the highest rate. In terms of application, the food & beverage packaging segment is the fastest-growing segment, followed by the personal care packaging segment.

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This report provides a full analysis of key companies and competitive analysis of developments recorded in the industry during the past five years. Also, market drivers, restraints, opportunities, and challenges have been discussed in detail. Leading players of the market, which include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Tetra Laval International S.A. (Switzerland), Mondi plc (South Africa), WestRock Company (U.S.), BASF SE (Germany), Sonoco Products Company (U.S.), Smurfit Kappa Group PLC (U.S.), Sealed Air Corporation (U.S.), and Huhtamaki OYJ (Finland) have been profiled to provide an insight of the competitive scenario in the market.
On the basis of material, the sustainable packaging market has been segmented as follows:

• Paper & Paperboard
• Plastic
• Metal
• Glass

On the basis of function, the sustainable packaging market has been segmented as follows:

• Active packaging
• Molded pulp packaging
• Alternate fiber packaging

On the basis of application, the sustainable packaging market has been segmented as follows:

• Food & Beverage packaging
• Healthcare packaging
• Personal care packaging
• Others (electronic appliances and home care packaging)

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• 

Major companies have regional and local distributors to increase their shares in several countries. One of the major developments observed in the sustainable packaging market is mergers and acquisitions. Companies are adopting organic growth strategies such as new product developments to cope with the increasing demand for sustainable packaging solutions in emerging markets. These strategies have aided major companies create a huge customer and partner base in these markets.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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In-depth Analysis of the COVID-19 Impact on Thin Wall Packaging Market

The study involved four major activities to estimate the current market size for thin wall packaging products. Exhaustive secondary research was done to collect information on the market, peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

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Recent Developments

• In November 2017, RPC Superfos introduced an innovative spoon-in-the-lid solution for yogurts, desserts, and other dairy products. This lid is especially useful for consumers who eat on-the-go.
• In June 2017, RPC Group acquired Astrapak (South Africa), a key manufacturer of molded and thermoformed plastic packaging catering to the African market. This acquisition was aimed to increase RPC Group’s presence in the thin wall packaging market.

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 product type the thin wall packaging market has been categorized as follows:

• Tubs
• Cups
• Jars
• Trays
• Pots
• Clamshells
• Lids

♦ Leading Key Players -

The thin wall packaging market is dominated by large players, such as Amcor (Australia), Berry Global (US), Silgan Holdings (US), PACCOR (Germany), RPC Group (UK), Reynolds Group (New Zealand), ILIP Srl (Italy), Mold-Tek Packaging (India), Greiner Packaging International (Austria), and Double H Plastics (US).

Total 25 major players covered

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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Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com
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