Summary
Global Thermoform Packaging Market Growth, By Material (Plastic, Paper & Paperboard, Aluminum), Type (Blister Packaging, Skin Packaging, Clamshell Packaging, Others), Heat Seal Coating (Water-Based, Solvent-Based, Hot Melt-Based), Application and Region - Forecast 2023
Thermoform Packaging Market Growth Overview
Market Research Future (MRFR) has announced a new release on the global thermoform packaging market. The report discusses the global thermoform packaging market’s present condition in terms of its past movement patterns and provides readers with a clear idea of the market’s likely growth trajectory over the coming years. The segmentation of the global thermoform packaging market is also analyzed in the report in detail to provide readers an idea of how the market is structured on the granular level. According to the report, the global thermoform packaging market is expected to rise at a CAGR of 5.72% over the forecast period (2017-2023).
Thermoform packaging refers to packaging that is heated to the adequate temperature and then molded and cut to suit various packaging requirements. Thermoform packaging utilizes thermoplastics that can be easily molded in their molten state and transformed into the requisite shape.
Segmental Analysis
the global Thermoform Packaging Market Growth has been analyzed based on type, material, heat seal coating, and application. Based on the material, the Thermoform Packaging Market Growth is segmented into paper & paperboard, plastic, and aluminum. The plastic was accounted for the largest market share in 2016, as it offers high barriers, temperature resistance, cost efficiency, and durable packaging. Plastic in the form of PE, PVC, PP, and others are also used largely in plastic thermoform packaging segment.
Based on the heat seal coating, the market is segmented into solvent-based, water-based, and hot melt-based. The solvent-based heat seal coating segment was accounted for the largest market share of in 2016 owing to its numerous advantages such as strong bond strength that can be treated at different temperatures and resistance to water and grease.
Based on the application, the market is classified into pharmaceuticals, food & beverage, electronics, personal care, and others. The food & beverage segment was accounted for the largest market share in 2016. Thermoformed products are essentially used by the food industry for the packing of fruits, vegetables, meat, fish, poultry, in addition to prepared meals, and storage products. Pharmaceutical is also a major application of the thermoform packaging.
Competitive Analysis
Sealed Air Corporation
Bemis Company Inc.
E.I. du Pont de Nemours and Company
Display Pack Inc.
Tray Pack Corporation
RPC Group Plc
Constantia Flexibles Group GmbH
Anchor Packaging
Tekni-Plex Inc.
Lacerta Group
Silgan Holdings Inc.
DS Smith Plc
Sonoco Products Company
WestRock Company, and Amcor Limited.
Regional Analysis
The global thermoform packaging market is segmented, on the basis of region, into the Asia Pacific, North America, Europe, and the Middle East and Africa.
Europe is anticipated to be the major regional Thermoform Packaging Market Growth over the review period due to the solid presence of the food & beverage and pharmaceutical industries in the region. The rising demand for packaged food is likely to drive the Thermoform Packaging Market Growth in the region over the review period, due to the presence of a higher industrial base such as food and beverages, automobiles, and pharmaceuticals. the U.K, Germany, and France are the major markets in the region.
North America is another major region in the Thermoform Packaging Market Growth, mainly owing to the presence major retail chains such as The Kroger Co. and Walmart Stores. The U.S. contributes to a major share of the North American market.
Asia Pacific is slated to witness the highest growth rate in the global Thermoform Packaging Market Growth over the forecast period due majorly to the growing e-commerce industry, which uses thermoform packaging on a large scale to pack various products. Additionally, high growth in population and growing purchase power of the consumers fuel the growth of the market.
Access Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/thermoform-packaging-market-1851
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
The global thermoform packaging market size is expected to reach USD 55.13 billion by 2025, growing at a CAGR of 4.7% over the forecast period.
according to a new report by Radiant Insights, Inc. Factors including increasing demand for electronics, pharmaceuticals, and personal care & cosmetics products, on account of growing penetration of retail sector and rising disposable income, have been driving the demand for thermoform packaging over the past few years.
This trend has resulted in increased demand for pharmaceutical blisters, hence driving the market growth in the region.
Moreover, growth of the global pharmaceutical industry, on account of the rising prevalence of chronic diseases and lifestyle-driven health disorders, is expected to propel the demand further for thermoform packaging in the pharmaceutical end-user industry over the coming few years.
Pactiv LLC emerged as the market leader in the thermoform packaging market in 2018 on account of its wide scale offerings, especially, for food & beverage industry.
Business Environment Analysis: Thermoform Packaging Market3.6.1.
