As the world pushes toward more environmentally friendly packaging options, the need for thin wall containers is rising. The market for thin wall plastic containers will grow at an average annual rate of 5.3 percent in 2021, predicts Future Market Insights (FMI). Thin-walled plastic containers are anticipated to sell 307,885 million units globally in 2021.
The market for thin wall plastic containers will be worth US$32.2 billion in 2021, predicts Future Market Insights (FMI). Sales of thin wall plastic containers are anticipated to increase at a CAGR of 5.6 percent between 2021 and 2031.
Because of the rising need for plastic containers in the food and beverage industry, North America dominates the market for thin-walled plastic containers. During the anticipated period, the North American market is anticipated to see a CAGR of roughly 4.1%.
A new research named “Thin Wall Plastic Containers Market: Global Industry Analysis 2016 – 2020 and Opportunity Assessment 2021 – 2031” has been released by Future Market Insights (FMI). The rising demand from the food and beverage industry is to blame for the expanding use of thin wall plastic containers.
Key players consistently prioritize innovation and look forward to meeting consumer and vertical industry needs to remain competitive in the market. One of the distinguishing features of the worldwide thin wall plastic containers market is the strong regional presence of the major players and the specialization of some firms in particular fields.
To retain their position in the long run on the global market, businesses are also concentrating on mergers and acquisitions. For instance, Rexam plc was purchased by Ball Corporation in 2016. The goal of the acquisition was to increase the former company’s ability to produce. Sem Plastik, RPC Group Plc, Mold-Tek Packaging Limited (MTPL), ENGEL AUSTRIA GmbH, Double H Plastics, Inc., ACMEPAK PLASTIC PACKAGING, LTD., and D K Industries are among the other top players in the market.
Long-term gains for the global market for thin wall plastic containers are anticipated from industry participants expanding their manufacturing. The analysis predicts that from 2021 to 2031, the market for thin wall plastic containers will grow at a CAGR of 5.6 percent. The market’s value was 32,223 dollars.
Counterfeit Products to Pose a Threat to the Global Market
The thin wall plastic container business, like other vertical markets, is flooded by an abundance of knockoff goods. Long-term market expansion has been identified as being seriously hampered by the entry of counterfeit goods. These fake goods are of poor quality and could seriously affect consumers’ health. Businesses like Amcor are looking for solutions to this problem that preserve their individuality.
It remains to be seen which innovation and distinctiveness triumph against replica products in the fight against counterfeit goods.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of the 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 based on Source, Application, Sales Channel, and End-Use over the next 10 years.
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