Thermoform Packaging Market to Witness a Pronounce Growth Rate of ~7% CAGR by 2023

Global Thermoform Packaging Market, By Material (Plastic, Paper & Paperboard, Aluminum), Type (Blister Packaging, Skin Packaging, Clamshell Packaging, Others), Heat Seal Coating (Water-Based, Solvent-Based, Hot Melt-Based), Application and Region - Forecast 2023

Market Scenario

Thermoforming is a manufacturing process where thermoplastic sheets are heated to a temperature where it can be easily bent to form the desired product. This type of packaging is largely used for food packing to maintain its freshness and increase the shelf life of the product. Various retailers and food processors prefer thermoformed containers for packaging over other packaging techniques. According to the MRFR analysis, the market for thermoform packaging is growing at a rapid pace and is expected to gain prominence over the forecast period. The global thermoform packaging market is estimated to grow at a CAGR of 5.72% during the estimated period (2017-2023).

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Key Players

The key players of global thermoform packaging market report include –

• Bemis Company Inc.
• Sonoco Products Company
• E.I. du Pont de Nemours and Company
• Amcor Limited
• DS Smith Plc.
• WestRock Company
• Display Pack Inc
• Tray Pack Corporation
• Lacerta Group Inc
• Sealed Air

The thermoform packaging market is driven by several factors such as increased consumption of processed and packed foods & beverages. This packaging is light, flexible, odor-free, and moisture-free. Therefore, it is more preferred over other packaged product such as glass. Due to these properties, the demand for thermoform packaging is likely to grow in the near future. Moreover, environmental advantages of thermoform packaging are also stimulating the growth of the market. This packaging includes low raw material consumption, low carbon emission, and relatively low waste produced as compared to other packaging formats. However, availability of another alternative packaging may hinder the growth of the market.

Industry News

In 2017 Nelipak, a thermoformed medical packaging provider has completed the acquisition of thermoforming company Computer Designs Incorporated. Under the new brand of Nelipak Healthcare Packaging, the company will develop its thermoformed packaging products and service capabilities for the healthcare market.

Sirap-Gema (Italy) has completed the acquisition of two subsidiaries of Reynolds Group Holdings. Both the companies Kama Europe and Reynolds Food Packaging Spain produce the rigid plastic thermoformed food packaging trays.

Hence, global thermoform packaging market is expected to reach a market size of USD 104,999.8 million by the end of the forecast period at CAGR of 5.72%.

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Scope of the Report

This study provides an overview of the global thermoform packaging market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global thermoform packaging market as material, type and application.

By Material
• Plastic
o PET
o PP
o PVC
o Others
• Paper
• Aluminum
• Others

By Type
• Blister Packaging
• Skin Packaging
• Clamshell Packaging
• Others

By Application
• Food & beverage
• Pharmaceutical
• ElectronicsPersonal care
• Others

Market Research Analysis

The market is highly application based. The factors contributing to the growth of the global thermoform packaging market is the increasing demand for convenient packaging, growth in food & beverage industry and cost-effective. The market is expected to have higher growth rate as compared to the previous years. Europe is the largest region for the thermoform packaging market, followed by Asia-Pacific and North-America. The main reason for the growth in the region includes the rapid growth of industries such as food & beverage and pharmaceuticals in Germany.

Brief Toc:

1. Executive Summary
2. Research Methodology
3. Market Dynamics
4. Global Market, By Packaging Type
5. Global Market, By Technology
6. Global Market, By Application
7. Global Market, By End-user
8. Regional Market Analysis
9. Competitive Analysis
10. Conclusion
11. List Of Tables
12. List Of Figures

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