Thermoform Packaging Market - Global Industry Analysis, Size, Share, Growth, Trend, and Forecast 2016 - 2024

Packaging plays an important role in protecting the damage or contamination from air, moisture, and toxins. Thermoform packaging is one of those packaging which can be used as a protector of the product. Thermoform packaging defines things that are manufactured by heating plastic in a mold to construct a rigid packaging product of a distinct shape. Shaped material can either be a thin gauge or thick dependent on the type of transforming equipment used in the manufacturing process. Furthermore, the demand of the thermoform packaging is attributed to some properties such as lightweight, versatility, secure containment, visibility and posing tamper evidence.

Thermoform Packaging Market: Dynamics

The global thermoform packaging market is driven by the increasing growth of food & beverages industry. Thermoform packaging is used in the food & beverages industry widely not only to maintain freshness but also provide protection during shipping and transportation. In addition to this, the demand for thermoform packaging is also gaining traction in the pharmaceutical industry. Blister pack, a product type of thermoform packaging is commonly used as packaging for pharmaceutical tablets, capsules to deliver barrier protection for shelf life of the product and also a degree of tamper resistance. Moreover, these products are used widely in the physician sample drug products and over the counter (OTC) products. Thermoform packaging protects the shelf life of the products which is expected to bolster further the sales of thermoform packaging, especially for the retail sector. Moreover, the increasing growth of the retail sector is expected to stimulate the demand of thermoform packaging during the forecast period. Furthermore, the growing demand for electronic products is expected to drive the growth of thermoform packaging market. Increasing adoption of thermoform packaging in the consumer goods industries particular for packaging of electronic and semiconductor devices is expected to play a key role in creating demand for thermoform packaging shortly. The thermoform packaging is cheaper as compare with the metal or glass packaging. This is expected to further stimulate the sales of the product during the forecast period. However, avoiding usage of thermoform packaging for heavy products due to its low weight bearing capacity is expected to hamper the growth of thermoform packaging over the forecast period.

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Thermoform Packaging: Market Segmentation

The global thermoform packaging market is segmented on the basis of product type, coating, material and end-use industry

Based on the product type, the global thermoform packaging market is segmented into:

Blister packaging
Clamshell packaging
Skin packaging

Based on coating, the global thermoform packaging market is segmented into:

Water
Solvent
Hot melt

Based on the material type, the global thermoform packaging market is segmented into:

Plastic
Aluminum
Paper & paper board

Based on the end use industry the global thermoform packaging market is segmented into:

Food & beverages
Pharmaceutical
Consumer goods
Others

Thermoform Packaging Market: Regional Outlook

In terms of geography, the global thermoform packaging market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. Asia Pacific region is expected to be the fastest-growing region during the forecast period. Growing food & beverage and pharmaceutical industries particularly in the emerging economies of Asia Pacific is expected to propel further the demand for thermoform packaging. The growing demand for packaged food products is expected to boost the demand of thermoform packaging in Europe. Among all the countries in Europe, Germany is expected to dominate the Europe thermoform packaging market over the forecast period. The demand for thermoform packaging in the Middle East & Africa region is anticipated to remain sluggish throughout the forecast period.

Thermoform Packaging Market: Key players

Some of the key players in the global thermoform packaging market are Amcor Limited, Westrock Company, Tekni-Plex, Inc., DS Smith PLC, Anchor Packaging, E.I. Du Pont Nemours and Company, Sonoco Products Company, Display Pack Inc etc.

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This release was published on openPR.