Thermoforming Plastic Market Size, Share, Trends, Growth Outlook, Company Analysis And Forecast to 2032

As per The Business Research Company's Thermoforming Plastic Opportunities And Strategies Market Report 2023, the global thermoforming plastic market reached a value of nearly $45,903.9 million in 2022, having grown at a compound annual growth rate (CAGR) of 7.8% since 2017. The market is expected to grow from $45,903.9 million in 2022 to $63,820.7 million in 2027 at a rate of 6.8%. The market is then expected to grow at a CAGR of 9.4% from 2027 and reach $99,924.6 million in 2032.

The growing demand for packaged food will drive the growth of the thermoforming plastic market in the forecast period. Packaged foods include shelf-stable, refrigerated, and frozen products, which are packaged in bags, bowls, bottles, boxes and others. The increasing number of dual household incomes, longer working hours, and the inability to manage own cooked meals have increased the demand for packaged meals, particularly ready-to-eat foods, snacks and beverages. The thermoforming plastic packaging is used to safeguard food products and protects them during transit. For instance, according to the Commonwealth Scientific and Industrial Research Organization (CSIRO), an Australian Government agency, domestic prepared and frozen packaged food consumption will increase to $3.7 billion by 2030 from $2.7 billion in 2018. Moreover, the retail sales of packaged foods in Japan are predicted to reach $235.9 billion by 2026, an increase of 9.1% or $19.6 billion from 2022. Such an increase in demand for packed food will propel the thermoforming plastic market.

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Sustainable plastic packaging is a key trend gaining popularity in the thermoforming plastic market. Sustainable plastic packaging is a kind of packaging that has the smallest possible negative environmental impact. Major players in the thermoforming plastic market are focusing on the use of thermoformed solutions made of highly recycled content and bio-based materials to reduce their environmental impact. For example, in 2022, Nefab, a Sweden-based packaging solutions company, launched thermoformed products created using a high percentage of recycled materials for the automotive, electronic, telecom, aerospace and lithium-ion battery markets. Sustainable plastic packing trays and cushioning applications are among Nefab's thermoformed products made of recycled plastics and are entirely recyclable.

The top opportunities in the thermoforming plastic market segmented by thermoforming type will arise in the vacuum forming segment, which will gain $11,848.9 million of global annual sales by 2027. The top opportunities in the thermoforming plastic market segmented by plastic type will arise in the polypropylene segment, which will gain $4,033.2 million of global annual sales by 2027. The top opportunities in the thermoforming plastic market segmented by application will arise in the food packaging segment, which will gain $7,039.2 million of global annual sales by 2027. The thermoforming plastic market size will gain the most in the USA at $7,607.4 million.

Thermoforming Plastic Market Segmentation:
The thermoforming plastic market is segmented by type, by component, by function and by type of traders.
By Thermoforming Type -
The thermoforming plastic market is segmented by thermoforming type into
a) Vacuum Forming
b) Pressure Forming
c) Mechanical Forming

By Plastic Type-
The thermoforming plastic market is segmented by plastic type into
a) Polyethylene
b) Polypropylene
c) Polystyrene
d) Polyvinyl Chloride
e) Acrylonitrile Butadiene Styrene
f) Bio-Degradable Polymers
g) Other Plastic Types

By Application -
The thermoforming plastic market is segmented by application into
a) Healthcare And Medical
b) Food Packaging
c) Electrical And Electronics
d) Automotive Packaging
e) Construction
f) Consumer Goods And Appliances
g) Other Applications

Major players in the thermoforming plastic market include Amcor plc, Pactiv Evergreen Inc, Berry Global Inc., Sonoco Products Company, Huhtamaki Global.

The regions covered in the global thermoforming plastic market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Thermoforming Plastic Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Thermoforming Plastic Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Thermoforming Plastic Market, Conclusions And Recommendations
22. Appendix

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