The global thin-wall packaging market is forecast to grow due to increasing demand for lightweight and customer-friendly packaging. The market is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2020 to 2030.
This is according to a new report from Research and Markets, which also highlights the role of advanced technologies and the growth of the food and beverage industry in driving market growth.
Thin wall packaging refers to plastic packaging or parts with a wall thickness of less than 0.8mm, which is used in many different sectors such as dairy products, frozen goods, fruit and vegetables, and meats, Market and Research says in a release.
The study found the thin-wall packaging market is driven by the growth of the food and beverage industry, which has increased the demand for packaging solutions that can preserve the quality and freshness of products.
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The report also notes the adoption of advanced technologies such as injection moulding and thermoforming has led to the production of thinner and lighter packaging materials.
Asia Pacific will dominate the market
Asia Pacific is expected to dominate the thin-wall packaging market due to the increasing population, urbanisation, and changing lifestyles, which have led to a rise in demand for packaged food and beverages.
Europe is also expected to witness significant growth in the market due to the region’s strict regulations on the use of plastics, which have encouraged the adoption of eco-friendly and recyclable packaging materials.
The report highlights some of the key players in the global thin wall packaging market, including Amcor Limited, Berry Global Inc., Huhtamaki Oyj, and Sealed Air Corporation. These companies are focusing on product innovation and development to meet the growing demand for sustainable packaging solutions.