Thermoform Packaging Market 2018-2023 to Rise at 5.72% CAGR due to Growing Demand from F&B, Pharmaceutical Industries

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

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%.

The prominent players in the thermoform packaging are Bemis Company Inc. (U.S.), Amcor Limited (Australia), Sealed Air Corporation (U.S.), Sonoco Products Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), WestRock Company (U.S.), Tray Pack Corporation (U.S.), DS Smith Plc (U.K), Display Pack Inc. (U.S.), Lacerta Group (U.S.), RPC Group Plc (U.K), Silgan Holdings Inc. (U.S.), Anchor Packaging (U.S.), Tekni-plex Inc. (U.S.), and Constantia Flexibles Group GmbH (Austria).

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Market Highlights

Market Research Future (MRFR) has announced a new release on the global thermoform packaging market. The report discusses the global thermoform packaging market’s present condition in terms of its past movement patterns and provides readers with a clear idea of the market’s likely growth trajectory over the coming years. The segmentation of the global thermoform packaging market is also analyzed in the report in detail to provide readers an idea of how the market is structured on the granular level. According to the report, the global thermoform packaging market is expected to rise at a CAGR of 5.72% over the forecast period (2017-2023).

Thermoform packaging refers to packaging that is heated to the adequate temperature and then molded and cut to suit various packaging requirements. Thermoform packaging utilizes thermoplastics that can be easily molded in their molten state and transformed into the requisite shape. Thermoform packaging has mainly grown in demand in the food and beverage sector, where it is used to package fresh foods so that the nutrients don’t escape and the food doesn’t perish. The effectiveness of thermoform packaging in keeping vital nutrients in and preventing exposure to environmental contaminants such as oxygen is likely to drive the global thermoform packaging market over the forecast period.

The environmental benefits of thermoform packaging over other conventional forms of packaging foods are likely to be a major driver for the global thermoform packaging market over the forecast period. Due to the precise nature of the process, an exact amount of raw materials is utilized in producing thermoform packaging, resulting in little to no wastage. Carbon emissions during the process are also much lower compared to other forms of packaging. The stability of thermoform packaging when presented with reactive materials as well as physical impacts is also a major boost for the global thermoform packaging market, as this provides it an advantage over other packaging materials such as metals (which can easily react with environmental elements) and glass (which can shatter upon impact). However, the easy availability of a number of other packaging options is a key restraint acting on the global thermoform packaging market.

Industry Updates:

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

In November 2017, Sirap-Gema (Italy) completed the acquisition of two subsidiaries of Reynolds Group Holdings. Both companies, Kama Europe and Reynolds Food Packaging Spain, produce rigid plastic thermoformed food packaging trays.

Segmentation:

The thermoform packaging market has been segmented based on material, type, heat seal coating, and application. On the basis of the material, the market is segmented into plastic, paper & paperboard, and aluminum. The plastic segment accounted for the largest market share in 2016, as it provides benefits such as effective barrier properties, cost efficiency, temperature resistance, and durable packaging. Plastics such as PVC, PE, PP, and others are majorly used in plastic thermoform packaging.

On the basis of the heat seal coating, the thermoform packaging market is segmented into water-based, solvent-based, and hot melt-based coating. The solvent-based heat seal coating segment accounted for the largest market share in 2016 due to its several advantages, including strong bond strength. It can also be processed at different temperatures and presents a formidable resistance to water and grease. Water-based heat seal coating is estimated to grow at the highest CAGR during the forecast period, as it provides a strong bond between corrugated and polyethylene skin pack films and reduces the effect of adhesion-related challenges in thermoform packaging.

Based on the application, the thermoform packaging market is segmented into food & beverage, pharmaceuticals, electronics, personal care, and others. The food & beverages segment accounted for the largest market share in 2016. Thermoformed products are majorly used for packaging fruits, vegetables, meat, poultry, fish, as well as prepared meals and storage products. Pharmaceuticals is another major application segment of the thermoform packaging market.

Based on type, the thermoform packaging market is segmented into blister packaging, skin packaging, clamshell packaging, and others.

Regional Analysis:

The global thermoform packaging market is segmented into North America, Europe, Asia Pacific, and the Middle East and Africa.

Europe is expected to be the major regional thermoform packaging market over the forecast period due to the strong presence of the food & beverage and pharmaceuticals industries in the region. Growing demand for packaged food is likely to drive the thermoform packaging market in the region over the forecast period.

Asia Pacific is expected to exhibit the highest growth rate in the global thermoform packaging market over the forecast period due mainly to the growing e-commerce industry, which utilizes thermoform packaging on a large scale to pack various products.

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Table of Contents:

1 Executive Summary

2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure

3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model

4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain Of Global Thermoform Packaging Market

Continued........

LIST OF TABLES

Table 1 World Population By Major Regions (2015 To 2030) (Million)
Table 2 Global Thermoform Packaging Market: By Region, 2014-2022 (Usd Million)
Table 3 Global Thermoform Packaging Market: By Region, 2014-2022 (Kt)
Table 4 North America Thermoform Packaging Market: By Country, 2014-2022 (Usd Million)
Table 5 Europe Thermoform Packaging Market: By Country, 2014-2022 (Usd Million)
Table 6 Asia-Pacific Thermoform Packaging Market: By Country, 2014-2022 (Usd Million)
Table 7 RoW Thermoform Packaging Market: By Country, 2014-2022 (Usd Million)
Table 8 Global Thermoform Packaging Market: By Regions, 2014-2022 (Usd Million)
Table 9 North America Thermoform Packaging Market By Material: By Country, 2014-2022 (Usd Million)
Table 10 Europe America Thermoform Packaging Market By Material: By Country, 2014-2022 (Usd Million)

Continued........

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