Thermoform Packaging Market Product Driving Factors, Capacity and Growth Rate Analysis to 2028

Posted on 2022-08-11 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, Aug 11, 2022 — /EPR Network/ —

Thermoform Packaging Industry Overview

The global thermoform packaging market size was valued at USD 42.86 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028.

Increasing demand for packaged food including prepared food and packaged meat & seafood products, coupled with rising penetration of the organized and e-retail networks worldwide, is expected to drive the market growth during the forecast period. In the thermoforming process, the thermoplastic sheet is heated up to its softening temperature, and then, it is converted into the desired shape with the help of molds. Most commonly, heat, vacuum, and pressure are employed on these sheets to produce the final products.

Gather more insights about the market drivers, restrains and growth of the Global Thermoform Packaging market

The process is mainly bifurcated into two types, namely, thin-gauge and thick-gauge thermoforming. Thin-gauge thermoformed products including trays, blister, and clamshells are widely used for the packaging of various food, pharmaceuticals, electronics, and home care products. The U.S. pharmaceutical industry has been witnessing a shift towards blister packaging from traditional bottles for the packaging of oral solid doses. This shift is primarily attributed to the heightened protection offered by blisters against moisture and oxygen for individual solid doses. Moreover, low cost and easy transportation of blisters are also attracting pharmaceutical manufacturers to use the product.

Thermoformed products, such as trays, containers, cups, plates, and others, are extensively utilized by the foodservice industry for table offering as well as for parcel packaging. The rising penetration of e-food delivery platforms coupled with changing lifestyles across the world has been significantly contributing to the expansion of the foodservice industry, which, in turn, is anticipated to fuel the product demand.

Thermoform packaging products are cost-effective, lightweight, and offer high aesthetic appeal; thus, they are widely utilized by packaged food manufacturers. In addition, the increasing popularity of Modified Atmosphere Packaging (MAP) for food products, wherein controlled gaseous mixture is employed within thermoform containers to extend the shelf life of the food products, is expected to boost the market growth in the coming years.

Rising demand for single-serve packaging due to growing on-the-go food consumption is expected to be a pivotal factor in market growth. However, increasing traction around sustainable packaging is prompting end-use manufacturers to opt for flexible packaging that demands lesser raw material and can be efficiently transported and handled. This factor is expected to hinder the growth of the market over the forecast period.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

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Thermoform Packaging Market Segmentation

Grand View Research has segmented the global thermoform packaging market on the basis of material, product type, end-user industry, and region:

Thermoform Packaging Material Outlook (Revenue, USD Million, 2017 – 2028)
- PET
- PVC
- PS
- PP
- PE
- Others
Thermoform Packaging Product Type Outlook (Revenue, USD Million, 2017 – 2028)
- Blister
- Clamshell
- Skin Packaging
- Trays & Lids
- Containers
- Others
Thermoform Packaging End-user Industry Outlook (Revenue, USD Million, 2017 – 2028)
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Electronics
- Homecare
- Others
Thermoform Packaging Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa

Key Companies profiled:

Some prominent players in the global Thermoform Packaging market include

Amcor
Sonoco Products Company
Placon Corp.
Display Pack, Inc.
Pactiv LLC
Dart Container Corp.
Constantia
Tray-Pak Corp.
D&W Fine Pack
Lacerta Group, Inc.
RPC Group Plc
Silgan Holdings, Inc.
Sinclair & Rush, Inc.
Rompa Group

Order a free sample PDF of the Thermoform Packaging Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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