Global Thin Wall Plastic Tube Packaging Market by Product Type (Tubs, Cups, Trays, Jars, Clamshells, Pots, Lids), Material (Polypropylene, High Density Polyethylene, Polyethylene Terephthalate, Polystyrene, Polyvinyl Chloride, and Others), Production Process (Injection Moulding, Thermoforming, and Others), Application (Food & Beverages, Electronics, Cosmetics and Others), By Region (North America, Europe, Asia-Pacific and Rest-of-the-World) and Regional Outlook to 2023. Global Thin Wall Plastic Tube Packaging Market size estimated to project USD 52,323.6 million at 4.10% CAGR.
Thin Wall Plastic Tube Packaging Market Scenario
The global Thin Wall Plastic Tube Packaging market was valued at USD 41,045.2 million in 2017 and is anticipated to garner USD 52,323.6 million by the end of 2023, according to Market Research Future (MRFR). The worldwide market is likely to demonstrate 4.10% CAGR during the forecast period (2017-2023).
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With the rising demand from the food and beverage industry, changing lifestyle, growing urban population, and increasing disposable income, the global market for thin-wall packaging is set to flourish. The demand for packaged food has augmented among consumers, especially among the working population in recent years. The rising preference for light-weight, customer-friendly, and cost-effective packaging has further propelled the market growth.
Thin Wall Plastic Tube Packaging Market Key Players
The key players of the global Thin Wall Plastic Tube Packaging market comprise Amcor Limited (Australia), Reynolds Group Holdings (Auckland), Berry Global Inc. (The U.S.), RPC Group PLC (U.K.), Silgan Holdings (The U.S.), Mold-Tek Packaging (India), Double H Plastics (The U.S.), Ilip SRL (Italy), Greiner Packaging International GmbH (Austria), and Groupe Guillin (France).
The global Thin Wall Plastic Tube Packaging market span across four major regions namely – North America, Europe, Asia Pacific, and Rest-of-the-World.
Asia Pacific is considered to lead the global market and is estimated to grow at the fastest rate. The growth is attributed to the rapid industrialization, increasing middle-class income, and penetration of the e-commerce industry in this region. Also, the growing demand for ready-to-make products especially among the working population is presumed to drive the market in this region. The demand for sustainable packaged solutions from the food and beverage industry is further expected to augment the market growth. Europe, on the other hand, is likely to project substantial demand due to economic development, expansion of foodservice packaging industry, and growing consumption for packaged food products.
The global Thin Wall Plastic Tube Packaging market has been segmented on the basis of product type, material, production process, application, and region.
Based on product type, the global Thin Wall Plastic Tube Packaging market has been segmented into tubs, cups, trays, jars, clamshells, pots, and lids. Among these, the tubs segment leads the global market and is anticipated to exhibit the fastest growth rate.
Based on material, the global Thin Wall Plastic Tube Packaging market has been segmented into polypropylene (PP), high-density polyethylene (HDPE), polyethylene terephthalate (PET), polystyrene (PS), polyvinyl chloride (PVC), and others. Among these, the polypropylene (PP) leads the global market and is considered to exhibit the fastest growth rate during the review period.
Based on the production process, the global Thin Wall Plastic Tube Packaging market has been segmented into injection molding, thermoforming, and others. Among these, the injection molding leads the global market and is considered to exhibit the fastest growth rate.
Based on application, the global Thin Wall Plastic Tube Packaging market has been segmented into food & beverages, electronics, cosmetics, and others. Among these, the food & beverages application leads the global market and is considered to exhibit the fastest growth rate.
Data analysts at MRFR ensure an objective analysis of the market while preparing market research reports by following set of standards which allow a comprehensive view of the market and its several components. Several factors comprising economic growth, government expenditure, supply channels and distribution channels have been scrutinized to relay precise information. In addition, market-size estimation and validation use top-down and bottom-up approaches in order to obtain data from the demand and supply side. Analysis of data has been performed by using research framework suited to the specific industry.
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