Dominance of North America in Thin Wall Plastic Containers Market: Robust 4.1% CAGR Expected Amid Soaring Demand in Food and Beverage Sector

The surge in demand for environmentally-friendly packaging solutions is propelling the adoption of thin-wall containers. According to Future Market Insights (FMI), the thin wall plastic container market is poised to achieve a 5.3% year-on-year growth rate in 2021, with global sales projected to reach an impressive 307,885 million units. FMI's analysis forecasts the market's value to reach US$ 32.2 billion in 2021, and an overall Compound Annual Growth Rate (CAGR) of 5.6% between 2021 and 2031.

Notably, North America stands at the forefront of this market, driven by escalating demand for plastic containers within the food and beverage sector. The region is anticipated to maintain a CAGR of around 4.1% throughout the forecast period. Amid rapid growth in the food, beverages, and consumer goods industries, the quest for advanced and eco-friendly packaging solutions is intensifying. The prevailing need for lightweight packaging aligns with rising requirements across various sectors, driving manufacturers of thin wall plastic containers to ramp up production capacities and establish new facilities.

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The expanding network of retail and supplier channels is a promising sign for sustained market growth. Moreover, consumer preference for lightweight packaging is expected to extend the market's reach to diverse sectors and industries, emphasizing its potential to reshape the packaging landscape sustainably.

Future Market Insights (FMI) has published a new report titled "Thin Wall Plastic Containers Market: Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031." The growing use of thin wall plastic containers can be attributed to the increasing demand from the food and beverages sector.

In order stay competent in the market, key players are constantly focusing on innovation and are looking forward to cater to the needs of consumers as well as the vertical industries. A strong presence of the leading players across several regions and the expertise of specific companies in certain areas is one of the notable characteristics of the global thin wall plastic containers market.

Companies are also focusing on mergers and acquisitions to maintain their position in the global market in the long run. For instance, in 2016, Ball Corporation acquired Rexam plc. The acquisition was aimed at strengthening the production capacity of the former company. The other leading companies operating in the market are Double H Plastics, Inc., ACMEPAK PLASTIC PACKAGING, LTD., Sem Plastik, RPC Group Plc, Mold-Tek Packaging Limited (MTPL), ENGEL AUSTRIA GmbH, and D K Industries.

Expanding production by market players is expected to benefit the global thin wall plastic containers market in the long run. As stated in the report, the global thin wall plastic containers market is expected to witness a CAGR of 5.6% from 2021 to 2031. The market was worth US$ 32,223 Mn in 2021.

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Lightweight Packaging to Push Market Revenue Growth

Companies across the globe in different sectors are trying to cut costs and eliminate processes that diminish their bottom line. In comparison to other forms of packaging such as glass or can, a less amount of raw material is used while manufacturing thin wall plastic containers. This helps companies cut down their raw material costs.

In addition to this, thin wall plastic containers can be manufactured in a shorter cycle time which translates to higher productivity and comparatively lower cost per produced part. Furthermore, thin wall plastic containers are used in a variety of applications including medical disposables, electronic hosing and protection among others, which provide a lot of potential for cost savings for manufacturers, suppliers, and retailers in multiple fields.

As these containers are quite thin, they offer a myriad of design opportunities as well. Moreover, in an effort to meet sustainability goals, companies are concentrating on lighter packaging materials.

On the other hand, snowballing landfills, impairment of the ecosystem, and long-term health problems are some of the harmful effects of plastic containers. Growing oversight by consumers and interest groups over the harmful effects of traditional plastic packaging has made eco-friendly packaging the Centre of the strategic base of the industry.

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 Many companies operating in the market are banning packaging materials such as plastic and are looking for alternatives of these packaging materials. Various manufacturers are at present focusing on biodegradable packaging. This scenario may negatively impact growth in sales of thin wall plastic containers.

Counterfeit Products to Pose a Threat to the Global Market

Like other vertical industries, the thin wall plastic containers industry too is inundated by the overflow of counterfeit products. The influx of counterfeit products has been recognized as a core problem for the growth of the market in the long run. These counterfeit products are of low quality and can severely harm the well-being of end users. Companies such as Amcor are looking for ways to address this issue while maintaining their originality in the process.

# Thin Wall Plastic Containers Market: Segmentation

Product Type:

Boxes & Bins
Trays
Cups
Lids
Thin Wall Pails
Bowls

Material Type:

Polypropylene (PP)
Polystyrene (PS)
Polyethylene (PE)
High-density Polyethylene (HDPE)
Low-density Polyethylene (LDPE)
Polyethylene Terephthalate (PET)

Manufacturing Technology:

Thermoformed
Vacuum Technology
Injection Molded Technology
Others

Region:

North America
Latin America
Eastern Europe
Western Europe
China
Middle East and Africa
Asia Pacific
Japan

Application:

Dairy Products
Frozen Foods
Fruits and Vegetables
Bakery and Confectionery
Juices and Soups
Meat, Seafood and Poultry
Ready-to-eat Meals
Pharmaceuticals
Personal Care and Cosmetics
Paints, Lubricants and Adhesives

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.