Thermoform Packaging Market was estimated at USD 32.16 Billion in 2015, and is anticipated to reach USD 54.22 billion by 2025, growing at a CAGR of 5.60% over the forecast period. Factors including minimal packaging wastes; rising demand in food and beverages sector, retail & pharmaceuticals industries; home & personal care goods is expected to drive the global thermoform packaging market.
Market Scenario:
Thermoforming packaging involves plastic sheets fabrication by heating and converting into a malleable form as per the customer specifications. Ongoing developments, thermoformed plastics are casted as metal replacements employing heavy gauge process, offering applications in transportation, aerospace, industrial equipment, medical devices and kiosks centers.
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Increasing consumer preferences towards packaged and fresh food is also anticipated to augment market growth. Moreover, macro-economic factors including improvement in standard of living and changes in lifestyle are also projected to boost demand over the forecast period. Advancements in thermoform machine technology, increasing use of polylactic acid (PLA) films and gradual shift toward lightweight packaging are further likely to deliver lucrative opportunities.
Key Players:
• Amcor Limited
• Anchor Packaging
• Sonoco Products Company
• Placon Corporation
• Bemis Company
• Display Pack Inc.
• Pactiv LLC
• Westrock Company
On the basis of material segment, the report projects the market share, revenue, and growth rate of each type, primarily bifurcated into
• Aluminum
• Plastic
• Paper & Paperboard
Based on material segment, plastic has been anticipated for the largest share, owing to the rising application in personal care & cosmetics, food & beverage, and pharmaceuticals industry. The plastics segment is further categorized into polyethylene terephthalate (PET), polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), and acrylonitrile butadiene styrene (ABS).
Based on types, the market has been segmented to illustrate the revenue, market share and growth rate of each type, mainly split into:
• Blister Packaging
• Clamshell Packaging
• Skin Packaging
• Others
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The food industry is a major application segment predicted to drive global demand over the forecast period owing to superior properties including light weightlessness, flexible, odor-free, moisture-free, and are preferred over wood and glass. Additionally, thermoformed plastics in pharmaceuticals industry are used to manufacture accessories, diagnostic systems, and medical plants. Thermoforming comprises of a manufacturing process to convert 2-D into a 3-D thermo-polymer to be used as pharmaceutical bottles, prefilled syringes, and medicine electronics along with capsules and tablets.
Globally, the global thermoform packaging industry has been segmented into Europe, North America, Asia Pacific, the Middle East and Africa and Latin America, with revenue (Billion USD), market share and growth rate for these regions, from 2015 to 2025 (forecast):
• North America: U.S., Rest of North America
• Europe: Germany, France, UK, rest of Europe
• Asia Pacific: China, Japan, India and Rest of Asia Pacific
• Middle East & Africa: GCC, North Africa, South Africa and Rest of MEA
• Latin America: Brazil and Rest of Latin America
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