Thermoform Packaging Market

The Thermoform Packaging Market is predicted to rise to USD 64,295 million by 2028, witnessing 5.2% CAGR during 2021-2028

Thermoform Packaging Market Overview

Thermoform packaging refers to the type of packaging obtained by the thermoforming process, which involves heating of plastic to a pliable forming temperature, and then forming the plastic into various shapes by a mold. Thermoforming is used to create precise product packaging including plastic clamshells, packaging trays, blister packaging, and lidding film packaging among others.

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Major Thermoform Packaging Market Drivers

The rising food and pharmaceutical industry, the increasing demand for strong and durable packaging, and the growing need for protection of products during shipping and transportation are some of the major factors expected to drive the growth of the thermoform packaging market size. In addition, thermoform packaging offers various advantages that include protection against contamination, the ability to customize packaging, help in brand recognition with product visibility, this is expected to augment the market growth. Moreover, manufacturers are increasingly using environmentally friendly and sustainable plastic materials in the production of product packaging by thermoforming. This is expected to offer huge growth and development opportunities to the thermoform packaging market share in the coming years.

Restraint in the Thermoform Packaging Market

However, strict government regulations regarding plastic packaging including Rigid Plastic Packaging Container (RPPC) Law and EPR regulations to reduce plastic packaging waste are expected to restraint the growth of the market. Additionally, the outbreak of COVID 19 worldwide has further caused a disturbance in the supply chain and the slowdown of the manufacturing process that may hinder market growth.

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Material – Segment Analysis

Based on the material, plastic is expected to hold a prominent share in the market primarily due to the extensive adoption of plastic packaging in industries including food & beverages, electronics, healthcare, cosmetics, and many more. Moreover, the rising use of plastics including polyethylene terephthalate, high-density polyethylene, polyvinyl chloride, acrylonitrile butadiene styrene (ABS) for thermoforming owing to their tough resilience to heat and temperature, strong structure, and versatility is further accelerating the market growth.

Product Type – Segment Analysis

Based on the product type, blisters are expected to account for a large share in the thermoform packaging market primarily due to the increased use of thermoformed polyvinyl chloride (PVC) in manufacturing blisters because of its low cost, ease of forming, good barrier characteristics, and chemical resistance. Additionally, blister packaging is highly suitable for packaging food, medicine, health care products owing to its long shelf life, portability, high barrier properties.

End-Use Industry – Segment Analysis

Based on the end-use industry, food & beverage is expected to grow at a notable rate over the forecast period. This can be attributed to the rising food retail sector, the changing lifestyle of consumers coupled with the rising demand for sustainable packaging materials. Moreover, the growing use of thermoform packaging in takeaway food products, dairy products, beverages, and others owing to advantages including uniformity of end-product, easy usage, and cost efficiency is further escalating the market growth.

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Regional – Segment Analysis:

North America is expected to account for a prominent share in the thermoform packaging market owing to the increased living standards of consumers, the rising demand for secure packaging materials, and the growing end-use industries including pharmaceutical, food & beverage, electronics, cosmetics, and others. The presence of the leading companies including Sonoco Products Company, Sealed Air Corporation, and Berry Global Inc. is further promoting the development of the market in North America.

Top Market Players

Several leading Thermoform Packaging companies operating in the market, include Sonoco Products Company, Amcor Plc, Berry Global Inc., Coveris, Sealed Air Corporation, WestRock Company, Anchor Packaging, Tekni-Plex, D&W Fine Pack, and Display Pack among others.

Key Developments:

• • In 2020, Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, (together TEQ), one of the global manufacturers of thermoformed packaging for healthcare, medical devices, and consumer markets have been acquired by Sonoco Products Company. The legal name for the new company will become SONOCO TEQ.

Segments covered in the Report:

The global Thermoform Packaging market has been segmented on the basis of material, product type, end-use industry, and key regions. Based on the material, the market is segmented into plastic and paper. Based on the product type, the market is segmented into blisters, clamshells, trays & lids, containers, and others. Based on the end-use industry, the market is segmented into food & beverage, pharmaceuticals, personal care, consumer electronics, and others.

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Market Segmentation

Global Thermoform Packaging Market by Material

• • Plastic
  • Paper

Global Thermoform Packaging Market by Product Type

• • Blisters
  • Clamshells
  • Trays & Lids
  • Containers
  • Others

Global Thermoform Packaging Market by End-Use Industry

• • Food & Beverage
  • Pharmaceuticals
  • Personal Care
  • Consumer Electronics
  • Others

Global Thermoform Packaging Market by Region

• • North America Thermoform Packaging Market (Option 1: As a part of the free 25% customization)

    • By Material
    • By Product Type
    • By End-Use Industry
    • US Market All-Up
    • Canada Market All-Up

  • Europe Thermoform Packaging Market (Option 2: As a part of the free 25% customization)

    • By Material
    • By Product Type
    • By End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Thermoform Packaging Market (Option 3: As a part of the free 25% customization)

    • By Material
    • By Product Type
    • By End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Thermoform Packaging Market (Option 4: As a part of the free 25% customization)

    • By Material
    • By Product Type
    • By End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Thermoform Packaging Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sonoco Products Company
  • Amcor Plc
  • Berry Global Inc.
  • Coveris
  • Sealed Air Corporation
  • WestRock Company
  • Anchor Packaging
  • Tekni-Plex
  • D&W Fine Pack
  • Display Pack