Thin Wall Packaging Market worth $53.7 billion by 2023 | Key Players include Amcor, Berry Global, Silgan Holdings, PACCOR, RPC Group, Reynolds, ILIP Srl, Mold-Tek Packaging, Greiner Packaging, and Double H Plastics

According to recent market research "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.

Browse 106 market data Tables and 33 Figures spread through 143 Pages and in-depth TOC on "Thin Wall Packaging Market - Global Forecast to 2023"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/thin-wall-packaging-market-26533188.html

Thin wall packaging is defined as thermoformed or injection molded rigid plastic containers and lids, which are majorly used in food and non-food applications. The structural nature of thin wall containers makes them more flexible than conventional rigid jars. The thickness of thin wall containers varies in accordance to its end use. For instance, food packaging containers and lids have a typical thickness of less than 1 mm, wherein the thickness of thin wall components for portable electronics or automotive parts can be 2 mm or less. MarketsandMarkets expects the thin wall packaging market to grow from USD 42.8 billion in 2018 to USD 53.7 billion by 2023, at a CAGR of 4.64% during the forecast period.

Injection molding is increasingly being adopted for producing thin wall packages. It is projected to grow at the highest CAGR during the forecast period, while thermoforming is projected to witness a decline in growth. Injection molding technology is expected to gradually replace thermoforming technology for manufacturing thin wall containers. Injection molding of thin wall plastic products refers to a specialized form of conventional injection molding technique that emphasizes on mass production of plastic parts that are comparatively thin and light, thereby ensuring a reduction in the material cost and shorter production cycle. The dominance of the injection molding segment is attributed to numerous benefits, including faster production speed, increased productivity, lower cost of production, and uniformity.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=26533188

The global thin wall packaging market size is expected to grow from USD 42.8 billion in 2018 to USD 53.7 billion by 2023, at a compound annual growth rate (CAGR) of 4.64% during the forecast period. The rising demand for packaged food & beverages is expected to drive the growth of the thin wall packaging market.

The thin wall packaging market is led by major players such as Amcor (Australia), Reynolds Group (New Zealand), RPC Group (UK), Berry Global (US), Silgan Holdings (US), PACCOR (Germany), ILIP Srl (Italy), Mold-Tek Packaging (India), Greiner Packaging International (Austria), and Double H Plastics (US). These players have adopted numerous growth strategies to increase their market share and enhance their product portfolio. Acquisitions, new product launches, investments & expansions, and joint ventures are some of the major strategies adopted by leading players operating in the thin wall packaging market. The year 2017 experienced a large number of new products developed by top players in the market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=26533188

New product development accounted for the largest share of all strategic developments in the thin wall packaging market in 2017. Companies such as Double H Plastics (US), PACCOR (Germany), and RPC Group (UK) adopted this strategy to strengthen their product portfolios and enhance their growth prospects in the thin wall packaging market.

RPC Group is one of the leading players in the packaging industry in Europe. It offers products through two segments, namely, packaging and non-packaging. The packaging segment contributes to a major portion of the company’s sales; for instance, this segment reported annual revenue of USD 3.57 billion in 2017 (approximately 84% of its annual revenue). The company has a wide product portfolio and leading product design capabilities across all polymer conversion techniques such as injection molding, blow molding, rotational molding, blow film extrusion, and thermoforming. In November 2017, RPC Superfos (a unit of RPC’s packaging division) 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 September 2017, RPC Bebo introduced new packs of PP and PET for the convenience food packaging market. These solutions can be used in dips, salads, fruit pieces, and snack meals, among others.

Amcor is a global packaging manufacturer that offers innovative packaging solutions. Its wide range of packaging products caters to a variety of applications across food & beverage, healthcare, homecare, and personal care industries. Strong global presence and adoption of growth strategies such as acquisitions have ensured its leading position in the market. 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 in the first quarter of 2019. This transaction is aimed at increasing its R&D capabilities and expanding its geographical presence to cater to the demand for sustainable packaging.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/thin-wall-packaging.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/thin-wall-packaging-market.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.