Thermoform Packaging Market Overview:
Global Thermoform Packaging Market was valued at $34,044 million in 2015, and is expected to reach $49,804 million by 2022, supported by a CAGR of 5.5% during the forecast period 2014 - 2022.Thermoforming is a manufacturing process wherein paperboard, plastic, or aluminum sheets are heated to a temperature such that it can be easily bent to form desired product. Thermoform packaging is majorly used to pack food to maintain its freshness, and increase the shelf life of the product. Retailers, brand owners, and food processors prefer thermoformed containers for packaging over other packaging techniques.
The global thermoform packaging market is segmented based on material, type, heat seal coating, end-user industry, and geography. According to material, the market is categorized into plastics, aluminum, and paper & paperboard. The plastics segment is further classified into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polystyrene (PS), acrylonitrile butadiene styrene (ABS) and others. Based on type, it is divided into clamshell packaging, blister packaging, skin packaging, and others. Based on heat seal coating, it is segmented into water-based, solvent-based, and hot melt-based heat seal coatings. According to end-user industry, the market is segregated into food & beverage, electronics, personal care & cosmetics, pharmaceuticals, and others.
Global Thermoform Packaging Market Segmentation
Increased demand for convenient and easy-to-use packaging has resulted in the increased requirements for barrier properties to keep the food fresh and enhance its shelf life. Packaging manufacturers majorly use thermoform packaging for food products as it eliminates wastage of material and the packages are relatively easier to customize. However, factors such as volatile raw material prices and governmental regulations on plastics such as PVC are estimated to hamper the growth of the market during the forecast period.
Top Investment Pocket
Food & beverage is projected to be the top investment pocket in the global thermoform packaging market owing to the extensive application of thermoform solutions in food packaging. Moreover, the escalating demand for convenient and easy-to-use packaging along with reduced packaging cost, is projected to propel the adoption of thermoform packaging in food & beverage industry.
Top Investment Pocket
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share owing to increase in the utilization of thermoform packaging and presence of big retail brands. However, Asia-Pacific is expected to show highest growth rate during the forecast period.
Global Thermoform Packaging Market Share, by Geography, 2015 & 2022 (%)
Key players profiled in this report include Anchor Packaging, Bemis Company, Inc., Sonoco Products Company, Amcor Limited, Placon Corporation, Display Pack Inc., Pactiv LLC, E.I. Du Pont Nemours and Company, Westrock Company, and DS Smith PLC.
Other players in the value chain (not profiled in the report) include Constantia Flexibles GmbH, Berry Plastics, Winpak, G. Mondini S.p.A, Tekni-plex Inc., Huhtamaki Group, and Tray-Pak Corporation.
Key Benefits Of Thermoform Packaging Market:
- Comprehensive analysis of the drivers and restraints that affect the market growth are provided.
- The report provides quantitative analysis of the current trends and future estimations from 2014 to 2022 to assist the stakeholders identify prevalent market opportunities.
- Top investment pockets highlight the opportunity in the most lucrative product segment.
- Key players of the market are profiled and their strategies are analyzed to identify the global competitive outlook.
- Market trends of major countries in each region are mapped according to the projected revenue.
Thermoform Packaging Market Key Segmentation:
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
- Others (Cellulose Acetate, etc.)
- Paper & Paperboard
- Clamshell Packaging
- Blister Packaging
- Skin Packaging
- Others (Windowed Packaging and Tubs & Cups)
By Heat Seal Coating
- Hot Melt-Based
By End-User Industry
- Food & Beverage
- Personal Care & Cosmetics
- Others (Industrial Goods and Automotive & Aerospace)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA