Thermoform Packaging Market Leading as a highest Shares Accounting Sector in Advanced Material Industry

Thermoform Packaging Market Report, published by Allied Market Research, forecasts that the global market was valued at $34,044 million in 2015, and is expected to reach $49,804 million by 2022, supported by a CAGR of 5.5% during the forecast period 2016 - 2022. Based on end-user industry, food & beverage segment occupied major share of the total market in 2015.

Rise in application in food & beverage packaging industry drive the growth of the global thermoform packaging market. Thermoform packages are light, odor-free, flexible, and moisture-free, and are thus preferred over wood and glass. Owing to these superior properties, the demand for thermoform packaging is expected to grow in the near future. Growth in consumer preference towards packaged and fresh food is also expected to augment growth of the global thermoform packaging market. Besides, macro-economic factors such as changes in lifestyle and improvement in standard of living are also expected to boost demand for thermoform packaging during the forecast period.

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Key findings of the Thermoform Packaging Market:

• North America dominated the global thermoform packaging market in 2015, accounting for over one-third of the share, in terms of revenue.

• In 2015, thermoform packaging used in food & beverage industry accounted for two-fifths share of the global market.

• On the basis of material type, the plastics segment accounted for more than 80% share in 2015, and is anticipated to maintain its lead during the forecast period.

• Blister packaging accounted for majority of the share in 2015 and is anticipated to showcase fastest growth during the forecast period.

• Germany generated more than one-fifth of the total revenue in the Europe thermoform packaging market in 2015, and is expected to show highest growth rate.

• Asia-Pacific thermoform packaging market is expected to grow at the fastest rate throughout the forecast period.

• Based on heat seal coating, solvent-based coating is the leading segment, accounting for more than half of the share of global thermoform packaging market in 2015.

The segment of plastics represented the largest participation, both in terms of value and volume, due to the increase in use in the food and beverage industry, personal care and cosmetics and pharmaceutical. Among plastics, polyethylene terephthalate (PET) dominated the world market of thermoforming containers throughout the period expected.

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Top key players:

• Anchor Packaging
• Bemis Company
• Inc.
• Sonoco Products Company
• Amcor Limited
• Placon Corporation
• Display Pack Inc.
• Pactiv LLC
• E.I. Du Pont Nemours and Company
• Westrock Company
• DS Smith PLC.

Analyst Review :

The Asia-Pacific thermoform packaging market is expected to grow at the fastest rate owing to increase in adoption from pharmaceuticals and food & beverage industry, especially in the emerging economies, such as China, Japan, and Korea. In addition, out of all the patents registered during 20102016, majority of the patents were from Korea, China, and Japan. Moreover, the production cost of thermoform packaging products is relatively low in Asia-Pacific as compared to other regions.

Thermoform packaging finds wide-ranging applications in packaging of food and beverages, which is expected to be one of the key factors that drive the market growth during the forecast period. The growth in demand for convenient and easy-to-use packaging has resulted in the augmented need for barrier properties to keep the food fresh, thus enhancing its shelf life. Besides, thermoform packaging finds increased use by food packaging manufacturers as it helps eliminate the waste material generated by other packaging methods. Furthermore, these packages are easy to customize, and thereby, the quantity of raw material that goes into the production of these packages is reduced by around 50%. In addition, thermoform solutions used in food packaging contribute to reducing packaging costs for food products.

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