Thermoform Packaging Market Research Report - Forecast to 2023

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Global Thermoforming Packaging Market Information by Type (Blister Packaging, Skin Packaging, Clamshell Packaging, Others), by Application (Food & Beverage, Pharmaceuticals, Electronics, Personal Care and others), by Material (Plastic, Paper Aluminum and others) and by Region – Forecast to 2022

Market Highlights

The increasing demand from food & beverage and pharmaceuticals industries globally drives the market. The large consumer base, increasing manufacturing activities, cost-effective, environment friendly and increase in spending by consumers for packaged food. PET leads the market, majorly due to replacing polystyrene resin. Europe is the largest market. The global thermoform packaging market size was valued at around USD 32 Billion in 2015 and is expected to grow at CAGR of 7% by 2022.


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Thermoform Packaging Market Research Report -

Global Forecast to 2023

Industry Survey, Growth, Competitive Landscape

and Forecasts to 2023

PREPARED BY

Market Research Future

(Part of Wantstats Research & Media Pvt. Ltd.)


Thermoform Packaging Market

Global Thermoform Packaging Market, 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

Thermoforming is a manufacturing process where thermoplastic sheets are heated to a temperature where it can be easily bent to form the desired

product. This type of packaging is largely used for food packing to maintain its freshness and increase the shelf life of the product. Various retailers and

food processors prefer thermoformed containers for packaging over other packaging techniques. According to the MRFR analysis, the market for

thermoform packaging is growing at a rapid pace and is expected to gain prominence over the forecast period. The global thermoform packaging market

is estimated to grow at a CAGR of 5.72% during the estimated period (2017-2023).

The thermoform packaging market is driven by several factors such as increased consumption of processed and packed foods & beverages. This

packaging is light, flexible, odor-free, and moisture-free. Therefore, it is more preferred over other packaged product such as glass. Due to these

properties, the demand for thermoform packaging is likely to grow in the near future. Moreover, environmental advantages of thermoform packaging

are also stimulating the growth of the market. This packaging includes low raw material consumption, low carbon emission, and relatively low waste

produced as compared to other packaging formats. However, availability of another alternative packaging may hinder the growth of the market.

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Thermoform Packaging Market

Thermoform Packaging Market - Regional Analysis

On the basis of the regions, the global thermoform packaging market has been segmented into North America, Europe, Asia Pacific, and Rest of the

World (RoW). European region accounted for the largest market share in 2016 due to the presence of a high industrial base such as automobiles, food

and beverages, and pharmaceuticals. Germany, the U.K, and France are the major markets in the region. North America is another major region the

thermoform packaging market mainly due to the presence major retail chains such as Walmart Stores, and The Kroger Co. The U.S. accounts for a

major share of the North American market.

Asia Pacific region is projected to grow at the highest CAGR during the forecast period owing to booming e-commerce industry. E-commerce industry

offers an attractive and suitable shopping option to customers, which provides an innovative, sustainable, and seamless experience over all the channels.

This induces the growth of thermoform packaging. Additionally, high growth in population and increasing purchase power of the consumer’s boost the

growth of the market. China, Thailand, and India are the vital contributor to Asia Pacific market. China accounts for the largest market share in the

region mainly due to fast growth in the urbanization and industrial development.

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Thermoform Packaging Market

Thermoform Packaging Market - Segments

For the purpose of the study, the market has been segmented based on material, type, heat seal coating, and application. On the basis of the material,

the market is segmented into plastic, paper & paperboard, and aluminium. The plastic accounted for the largest market share in 2016 as it provides high

barriers, cost efficiency, temperature resistance, and durable packaging. Plastic in the form of PVC, PE, PP, and others are used largely in plastic

thermoform packaging segment.

On the basis of the heat seal coating, the market is segmented into water-based, solvent-based, and hot melt-based. The solvent-based heat seal coating

segment accounted for the largest market share of in 2016 due to its several advantages such as strong bond strength that can be processed at different

temperatures and resistance to water and grease. Water-based heat seal coating is estimated to grow at the highest CAGR during the forecast period

because it provides a strong bond between corrugated and polyethylene skin pack films and reduces several adhesion challenges of thermoform

packaging and pouring the thermoform packaging market.

Based on the application, the market is segmented into food & beverage, pharmaceuticals, electronics, personal care and others. The food & beverages

segment accounted for the largest market share in 2016. Thermoformed products are largely used by the food industry for the packing of fruits,

vegetables, meat, poultry, fish in addition to prepared meals, and storage products. Pharmaceutical is another major application of the thermoform

packaging.

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Thermoform Packaging Market

Major Players

The prominent players in the thermoform packaging are Bemis Company Inc. (U.S.), Amcor Limited (Australia), Sealed Air Corporation (U.S.),

Sonoco Products Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), WestRock Company (U.S.), Tray Pack Corporation (U.S.),

DS Smith Plc (U.K), Display Pack Inc. (U.S.), Lacerta Group (U.S.), RPC Group Plc (U.K), Silgan Holdings Inc. (U.S.), Anchor Packaging

(U.S.), Tekni-plex Inc. (U.S.), and Constantia Flexibles Group GmbH (Austria).

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