Thermoform Packaging Market 2021 Global Insights and Business Scenario - Amcor PLC, Sonoco Products Company, DS Smith

Market Insights Reports delivers key insights on the Thermoform Packaging market in its latest report titled, “Thermoform Packaging Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The thermoform packaging market is expected to grow at a CAGR of 9% over the forecast period (2021-2026).

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Top Key Players in the Global Thermoform Packaging Market: Amcor PLC, Sonoco Products Company, DS Smith, Placon Corporation, Display Pack Inc., WestRock Company, Tekni-Plex, Inc., Anchor Packaging, Inc., D&W Fine Pack, Sealed Air Corporation

- October 2019 - COEXPAN launched CorePET, the new 100% rPET sheet specifically formulated for the thermoform packaging market.

Key Market Trends

Food & Beverage is Expected to Hold the Largest Share

- Packaging of food products requires the packaging solution to have good oxygen/moisture barriers, physical stress, temperature, contamination protection, and tamper resistance, all while incorporating the innovative, functional design.
- As thermoform packaging owing to its durability, resilience, tamper-resistance, enhanced sealing capabilities not only protects the products but also extends the products shelf life or allows easy access. Players in the industry are increasingly adopting thermoform packaging products.
- In October 2019, GEA s launched a FoodTray created in collaboration with the Roba Group, Schur Flexibles Germany and Van de Velde Packaging, which combines thermoforming technology with cardboard and film.
- The players in the food industry are increasingly looking for packaging solutions that enable them to reduce the carbon footprint. As thermoformed packaging are increasingly being manufactured using 100% recyclable products, the demand is expected to grow over the forecast period.
- In October 2019, Charpak Ltd. designed and launched a new thermoformed packaging tub that is 100% recyclable, tamper-evident, that can be used for ambient, chilled or frozen sectors, food, and non-food products.

Regional Analysis:

The report offers an in-depth assessment of the growth and other aspects of the Thermoform Packaging market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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North America is Expected to Hold the Largest Share

- North America is expected to dominate the market over the forecast period, owing to the presence of some significant players in the region such as Anchor Packaging Inc., Sonoco Products Company, D&W Fine Pack, amongst others. This, coupled with the extensive research & development activities, have resulted in the wide-scale adoption of the thermoformed packaging in the region.
- In May 2018, Canada-based good natured Products Inc. signed an agreement to supply a US industry leader in thermoformed packaging. Plant-based packaging solutions for both food and general merchandise markets are covered under this agreement.
- The market in the region is witnessing mergers and acquisitions, thereby offering lucrative opportunities to the companies that enable them to boost market growth over the forecast period.
- In November 2019, Sonoco products company announced that it had signed a definitive agreement to acquire Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, from ESCO Technologies, Inc. for approximately USD 187 million in cash.

This Thermoform Packaging Market report addresses:

- The Market size from 2016-2021

- Expected market growth until 2026

- Forecast of how market drivers, restraints, and future opportunities will affect

- Segment and regions that will drive or lead the market growth and why

- Comprehensive mapping of the competitive landscape

- In-depth analysis of key sustainability strategies adopted by market place

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Post Covid-19 Analysis:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

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