Market Trends of Thin Wall Packaging Industry
This section covers the major market trends shaping the Thin Wall Packaging Market according to our research experts:
Food & Beverages Industry is Expected to hold the Major Share
- The increasing per capita income has resulted in an increase in the disposable income in the hands of the people allowing them to be able to afford imported food products, in turn, driving the growth of the thin wall packaging market over the forecast period.
- The beverage industry has seen an increase in the transportation cost in the shipping of glass bottles across the nation and returning them to the manufacturers due to increasing fuel prices. Therefore thin wall plastic containers offer an effective solution as they provide the convenience of one-way distribution and are light weighted and are also cost-effective.
- The companies in the thin wall packaging through efficient and effective research and development are launching new copolymers that would support the applications in the food industry thereby increasing the demand thin wall packaging products over the forecast period.
- For instance, in May 2017, Saudi Basic Industries Corporation expanded its PP polypropylene portfolio with two new high flow, injection-molding grades, SABIC PP 513MK46, and 512MK46, impact copolymers that are based on the phthalate free catalyst developed for thin-walled packaging applications its supports both food and non-food applications.
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Asia-Pacific to Register Highest Growth Rate
- The various initiatives by the government against food safety procedures has resulted in the revision of the food safety laws in the region which now promote the companies to look for a better option in terms of packaging materials thereby boosting the demand for the thin wall packaging market in the region.
- For instance, China revised its food safety law in which Article 1 aims at securing food safety and ensure the public health and life safety, while article 2 specifies the applicable parties. One of which is the production and distribution of packaging materials, containers, detergents, and disinfectants used for food and of tools and equipment used for food production and distribution.
- Due to the improved economic environment and the increased spending by the people in the region is one of the significant factors fueling the growth of the thin wall packaging market over the forecast period.
- For instance, according to the World Bank, the GNI per capita in PPP dollars of India was 7,060 PPP dollars in 2017 as compared to the 6,500 PPP dollars in 2016.
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