Thermoform Packaging Market: Food Industry to be Key Consumer of Thermoform Packaging Products

Global thermoform packaging market is divided into blister, clamshell, skin, and others. Of these, the blister packaging is expected to witness a remarkable growth rate during the forecast period. The growth of this segment will be due to the rising usage of this packaging type in the pharmaceutical industry as it is known to prevent product contamination. Blister packaging is also being used for packaging certain food products. Thermoform packaging is being extensively used in industries such as food, beverages, pharmaceutical, cosmetic and personal care, industrial goods, and electronics. Of these, the food industry is expected to be the key consumer of thermoform packaging as it is extensively used for packaging meat, bakery and confectionary, dairy, snacks, food service, and others. Analysts anticipate that the pharmaceutical segment is also likely to register is significant growth in the forecast period due to the growing acceptance of blister packaging in the medicine and medical devices packaging.

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Blister Packaging becomes Preferred Choice for Companies Owing to its Advantages

The packaging types available in the global market are blister packaging, clamshell packaging, skin packaging, and others such as tubs and cups. Of these, the blister packaging type is expected to be gain a significant momentum in the coming years due to its growing adoption in sectors such as pharmaceuticals. Several pharmaceutical packaging companies are expected to make extensive use of blister packaging type as it reduces chances of contamination to the product. Analysts anticipate that the blister packaging segment will acquire a share of 41.6% by the end of 2024.

In terms of geography, the global thermoform packaging market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, North America is expected to dominate the global market during the forecast period. The strengthening foothold of several retail chains such as The Kroger Co. and Walmart Stores is expected to fuel the demand for thermoform packaging in the region. By the end of 2024, the North America thermoform packaging market is expected to acquire a share of 37.9% in the overall market.

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Efforts to Improve Shelf Life of Food Products Increase Uptake of Thermoform Packaging

The estimation that the global food industry is likely to be worth US$3 trillion by 2020, presents innumerable growth opportunities to the global thermoform packaging market. The stupendous rise of the food industry is expected to stir up a relentless demand for allied industries such as packaging in the coming few years. Analysts predict that booming demand for seafood, poultry, and meat is expected to augment the sales of thermoform packaging as growing number of consumers are opting for packaged food items that have a longer shelf life of the product. Additionally, increased focus on the presentation of the product and emphasis on indelible marketing tactics to outline brand differentiation is expected to up the sales of thermoform packaging in the next few years.

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