Increasing Demand for Packaged Food to Provide Growth Opportunities to Thermoform Packaging Market

San Francisco, Calif., USA, Sep 19, 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.

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.

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

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 Bulk Chemicals Industry Research Reports.

Green Packaging Market – The global green packaging market size was valued at USD 274.15 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2028.

Flexible Packaging Market – The global flexible packaging market size was valued at USD 252.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030. 

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

Market Share Insights:

January 2020: Sonoco Products Company completed the acquisition of Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD., which was aimed at expanding its product portfolio and clientele across the globe.

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.