The global thermoform packaging market was valued at $42.6 billion in 2019, and is projected to reach $60.5 billion by 2027, registering a CAGR of 4.30% from 2020 to 2027.
Thermoform packaging is a type of packaging that made from the thermoforming process. Thin film packaging items are mass produced by thermoforming include blister packs and skin packs. They offer an attractive way to display certain commodity products such as cosmetics, toiletries, small tools, and fasteners (nails and screws). Thermoform packaging is a preferred choice among the packagers, owing to its light-weight, flexible design, pricing, reusability, and in some cases, recyclability.
Due to its extensive applications in the food & beverage and the pharmaceutical industry, expansion of either of these industry verticals control the global thermoform packaging market growth. Furthermore, an increase in population followed by consumer preference toward grab-n-go food packs and read-to-eat meals are some of the macro-economic factors that drive the global market growth. Moreover, thermoform packs such as clamshells, food containers retain the freshness of the food product packed inside for a longer duration; thereby, enabling longer storage and transport. In addition, thermoforming technology has developed to allow customized packaging solutions that attracts consumers and an increases the chances of purchase at the point-of-sale. New packaging products can be prototyped within a short period of time. Blister packs for medical packaging helps in maintaining the strict hygiene & sterility standards required. Further, the use of thermoform packaging in the electronics industry is increasing due to its ease of accessibility. It is used in packing electronic products such as USB cables, USB drives, batteries, wires, and cables. All these factors are expected to boost the growth of the market.
However, government policies regarding disposal and recyclability of plastics is a major threat to the global thermoform packaging market. Moreover, stringent government quality standards for the use of plastics in the food & beverage industry are expected to restrain the growth of the global thermoform packaging market. On the contrary, rise in focus toward the development of 100% recyclable thermoform packaging solutions and advancements in the thermoforming machine technology to increase productivity are anticipated to provide lucrative growth opportunities to the global thermoform packaging market.
The global thermoform packaging market is segmented on the basis of material, type, heat seal coating, end-user industry, and region. Based on material, the market is divided into plastics, aluminum, and paper & paperboard. The plastics segment is sub-segmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polystyrene (PS), acrylonitrile butadiene styrene (ABS), and others. Based on type, it is classified 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. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report are Anchor Packaging Inc., Amcor Ltd., Display Pack Inc., D&W Fine Pack LLC, Placon Corporation, Reynolds Group Holdings Ltd., Sinclair & Rush Inc., Sonoco Products Company, Tamarack Products Ltd., and WestRock Company.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Material
By Type
By Heat Seal Coating
By End-Use Industry
By Region
Thermoform packaging is a type of packaging that made from the thermoforming process. Thin film packaging items are mass produced by thermoforming include blister packs and skin packs. They offer an attractive way to display certain commodity products such as cosmetics, toiletries, small tools, and fasteners (nails and screws). Thermoform packaging is a preferred choice among the packagers, owing to its light-weight, flexible design, pricing, reusability, and in some cases, recyclability.
Due to its extensive applications in the food & beverage and the pharmaceutical industry, expansion of either of these industry verticals control the global thermoform packaging market growth. Furthermore, an increase in population followed by consumer preference toward grab-n-go food packs and read-to-eat meals are some of the macro-economic factors that drive the global market growth. Moreover, thermoform packs such as clamshells, food containers retain the freshness of the food product packed inside for a longer duration; thereby, enabling longer storage and transport. In addition, thermoforming technology has developed to allow customized packaging solutions that attracts consumers and an increases the chances of purchase at the point-of-sale. New packaging products can be prototyped within a short period of time. Blister packs for medical packaging helps in maintaining the strict hygiene & sterility standards required. Further, the use of thermoform packaging in the electronics industry is increasing due to its ease of accessibility. It is used in packing electronic products such as USB cables, USB drives, batteries, wires, and cables. All these factors are expected to boost the growth of the market.
However, government policies regarding disposal and recyclability of plastics is a major threat to the global thermoform packaging market. Moreover, stringent government quality standards for the use of plastics in the food & beverage industry are expected to restrain the growth of the global thermoform packaging market. On the contrary, rise in focus toward the development of 100% recyclable thermoform packaging solutions and advancements in the thermoforming machine technology to increase productivity are anticipated to provide lucrative growth opportunities to the global thermoform packaging market.
The global thermoform packaging market is segmented on the basis of material, type, heat seal coating, end-user industry, and region. Based on material, the market is divided into plastics, aluminum, and paper & paperboard. The plastics segment is sub-segmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polystyrene (PS), acrylonitrile butadiene styrene (ABS), and others. Based on type, it is classified 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. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report are Anchor Packaging Inc., Amcor Ltd., Display Pack Inc., D&W Fine Pack LLC, Placon Corporation, Reynolds Group Holdings Ltd., Sinclair & Rush Inc., Sonoco Products Company, Tamarack Products Ltd., and WestRock Company.
KEY BENEFITS FOR STAKEHOLDERS
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
By Material
- Plastic
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
- Others (Cellulose Acetate)
- Aluminum
- Paper & Paperboard
By Type
- Clamshell Packaging
- Blister Packaging
- Skin Packaging
- Others (Windowed Packaging and Tubs & Cups)
By Heat Seal Coating
- Water-Based
- Solvent-Based
- Hot Melt-Based
By End-Use Industry
- Food & Beverage
- Electronics
- Personal Care & Cosmetics
- Pharmaceuticals
- Others (Industrial Goods and Automotive & Aerospace)
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- ASEAN
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Rest of LAMEA
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Thermoform Packaging Market, by Material
Chapter 5: Thermoform Packaging Market, by Type
Chapter 6: Thermoform Packaging Market, by Heat Sealing Coating
Chapter 7: Thermoform Packaging Market, by End-Use Industry
Chapter 8: Thermoform Packaging Market, by Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles:
Executive Summary
According to the report titled, 'Thermoform Packaging Market By Material, Type, Heat Seal Coating, and End-User Industry: Opportunity Analysis and Industry Forecast, 2019-2027' the global thermoform packaging market was valued at $42.6 billion in 2019, and is projected to reach $60.5 billion by 2027, registering a CAGR of 4.30% from 2020 to 2027.Thermoform packaging are molded products obtained by thermoforming. In a general thermoforming process, thermoplastics are molded into desirable shapes by heating the plastic sheet to its forming temperature and pressurizing it on the mold.. Thermoform packaging such as blister, clamshell, skin, and trays & lids are used in the packaging industry due to the flexibility in design as well as low production cost as compared to injection and rotational molding.
The global thermoform packaging market is driven by increase in applications of thermoform packaging in the food & beverage packaging industry.. Thermoform packages are lightweight and can be easily customized as per consumers’ needs, which further boost market growth. The demand for thermoform packaging is expected to grow in the near future, owing to its superior characteristics such as durability, cost-effectiveness, and tamper resistance. Moreover, an increase in consumer preference toward packaged and fresh food is expected to augment market growth. Moreover, macro-economic factors, such as changes in lifestyle and improvement in standards of living are expected to boost the demand for thermoform packaging during the forecast period.
The global thermoform packaging market is segmented on the basis of material, type, heat seal coating, end-user industry, and region. Based on material, the market is divided into plastics, aluminum, and paper & paperboard. The plastics segment is sub-segmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polystyrene (PS), acrylonitrile butadiene styrene (ABS), and others. Based on type, it is classified 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. The pharmaceutical industry is expected to be the fastest growing sector during the forecast, growing at a CAGR of 4.90%.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to garner the highest thermoform packaging market share during the forecast period, mainly due to the growing population and economic developments in this region.
Key Findings of the Study:
The Asia-Pacific thermoform packaging market size is projected to grow the highest CAGR of nearly 4.9%, in terms of revenue, during the forecast period.
By material, the plastics segment is anticipated to witness a moderate growth rate of 4.5%, in terms of revenue, during the forecast period.
By type, the blister packaging segment is anticipated to witness a moderate growth rate of 4.7%, in terms of revenue, during the forecast period.
By heat seal coating, hot-melt-based thermoform packaging segment is anticipated to witness a moderate growth rate of 4.8%, in terms of revenue, during the forecast period.
By the end-use industry, the pharmaceutical industry is anticipated to witness a moderate growth rate of 4.9%, in terms of revenue, during the forecast period.
The key players operating in the global thermoform packaging industry include Anchor Packaging Inc., Amcor Ltd., Display Pack Inc., D&W Fine Pack LLC, Placon Corporation, Reynolds Group Holdings Ltd., Sinclair & Rush Inc., Sonoco Products Company, Tamarack Products Ltd., and WestRock Company.
Companies Mentioned
- Anchor Packaging Inc.
- Amcor Ltd.
- Display Pack Inc.
- D&W Fine Pack LLC
- Placon Corporation
- Reynolds Group Holdings Ltd.
- Sinclair & Rush Inc.
- Sonoco Products Company
- Tamarack Products Ltd.
- WestRock Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 411 |
| Published | May 2020 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 42.6 billion |
| Forecasted Market Value ( USD | $ 60.5 billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
