The global thermoform packaging market size accounted for US$ 47.85 billion in 2021 and is projected to reach around USD 76.92 billion by 2030, growing at a CAGR of 5.42% from 2022 to 2030.
Thermoforming is the plastic moulding technology that manufactures a wide range of extremely useful items. Thin plastic sheeting are heated throughout this process of manufacturing them easier to manipulate.
Thermoform Packaging Market Key Takeaways:
- By material, the polyethylene terephthalate (PET) segment accounted 45% of market share in 2021.
- By product, the containers segment hit revenue share of 27% in 2021.
- The clamshell product segment is projected to grow at CAGR of 5.8% from 2022 to 2030.
- By end user, the food and beverage segment held 52% market share in 2021.
- The pharmaceutical end-user segment is growing at a CAGR of 6.1% From 2022 to 2030.
- North America region accounted 28% of total revenue share in 2021.
The growth factor pushing the thermoform packaging market development is its extending use in the food and beverages enterprise. Thermoform packaging solutions are represented by different associated benefits, including extensive product lifespan, more excellent product visibility, and better safety for products against external elements.
Accordingly, this type of packaging is increasingly utilized for cheese, vegetables, baked goods, and meat.. Other aspects, such as technological advancements in the production method and the overall utilization of thermoform packaging solutions in the pharmaceutical industry, are anticipated to make a favorable outlook for the market owing to the boost in demand in the pharmaceuticals and food & and beverage industries.
The global thermoform packaging market report provides a Point-by-Point and In-Depth analysis of global market size, regional and country-level market size, market share, segmentation market growth, competitive landscape, sales analysis, opportunities analysis, strategic market growth analysis, the impact of domestic and global market key players, value chain optimization, trade regulations, recent developments, product launches, area marketplace expanding, and technological innovations. Global thermoform packaging market study covered in the report spans a forecast period from 2022 to 2030.
The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the thermoform packaging market across the globe.
A comprehensive estimate on the thermoform packaging market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of thermoform packaging during the forecast period. Price point comparison by region with global average price is also considered in the study.
Thermoform Packaging Market Scope
|Market Size in 2022
|USD 50.44 Billion
|Market Size by 2030
|USD 76.92 Billion
|Growth Rate from 2022 to 2030
|CAGR of 5.42%
|2022 to 2030
|Material, Product, Heat Seal Coating, End User and Geography
Reports Coverage: It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide containerized thermoform packaging market and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.
Market Outline: This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.
Market Production by Region: The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.
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Market Growth & Trends
The thermoplastic sheet in thermoforming is heated up to its adjustable temperature and then put over a mold until it chills down and carries the shape of the mold. A thin-gauge sheet, usually smaller than 0.060 inches, is mainly utilized to make stiff disposable effects, such as bowls, trays, containers, plates, etc.
The thermoforming plastic molding process delivers several benefits, including lower tooling cost, less material wastage, less per-unit cost for short-run production, and injection molding. The end-use enterprises, primarily food & beverages, especially prefer thermoformed packaging products.
The packaged food industry is rapidly growing worldwide, wherein thermoformed containers, trays, and tubs are primarily utilized for packaging fruits, meat, eggs, and ready meals. Increasing urbanization and penetration of retail networks associated with changing lifestyles contribute to developing the global packaged food industry and rising product demand. Also, the rising nuclear family structure, which makes the demand for single-serve packaging, is anticipated to favour the market’s growth.
To enhance their market position in the global thermoform packaging market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
On Sept. 14, 2021- Berry Global Group, Inc. declared that it intends to grow its foodservice packaging manufacturing processes in North America as part of its long-run strategic growth promises. $110 million investment will boost its proprietary polypropylene thermoforming capabilities to manufacture clear drink cups and lids for quick-service coffee shops, convenience stores, other foodservice markets, and restaurants.
The specific design fills an increasing need for a cup that showcases a luxury brand image and beverage look and enhances restaurant function efficiencies while presenting a more sustainable packaging choice.
Thermoform Packaging Market Players
The report includes the profiles of key thermoform packaging market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information, key development in past five years.
Major companies operating in this area are:
- Sonoco Products Company
- Placon Corp.
- Display Pack, Inc.
- Pactiv LLC
- Dart Container Corp.
- Tray-Pak Corp.
- D&W Fine Pack
- Lacerta Group, Inc.
- RPC Group Plc
- Silgan Holdings, Inc.
- Sinclair & Rush, Inc.
- Rompa Group
- Skin Packaging
- Trays & Lids
By Heat Seal Coating
- Hot Melt-Based
By End User
- Food & Beverage
- Personal Care & Cosmetics
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
It involves company databases such as Hoover’s: This assists us to recognize financial information, the structure of the market participants and industry’s competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to-face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire-based research etc.
- In order to validate our research findings and analysis, we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Why should you invest in this report?
If you are aiming to enter the global thermoform packaging market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for thermoform packaging are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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