Market Size of Thin Wall Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thin Wall Packaging Market Analysis
The thin wall packaging market was valued at USD 38.58 billion in 2020 and is expected to reach USD 55.92 billion by 2026, at a CAGR of 6% over the forecast period 2021 - 2026. The changing social and demographics coupled with the increase in the growing per capita income are some of the factors which are influencing the packaging industry on a greater scale.
- The increasing need for lightweight packaging coupled with an increase in the working population is some of the important factors that are responsible for fueling the demand for the thin wall packaging throughout the forecast period.
- The rise of e-commerce in the food and beverages have resulted in the increased consumption of the packaged goods that require packaging which could protect the products from contamination and damages. This trend is expected to boost the market over the forecast period.
- With the increasing research and development activities by the players in the packaging industry has resulted in the launch of innovative thin wall packaging products.
- For instance, in October 2018, Milacron Holdings Corp. a leading industrial technology company serving the plastics processing industry with a product brand named MOLD-MASTERS announced the launch of the new ThinPAK-Series thin-wall hot runner specifically designed for high-pressure applications like thin wall packaging.
- However, since the stringent regulations imposed on the packaging materials like plastics by the economies is expected to hinder the growth of the thin wall packaging products over the forecast period.
