The size of the thermoform packaging market is predicted to grow at a CAGR of 5.3% over the course of the forecast period, according to Future Market Insights. The market is anticipated to increase in value from US$ 50.390 Million in 2023 to US$ 84.450 Million in 2033. Some of the key elements driving thermoform packaging sales are:
- According to research, Thermoform packaging can be up to 15% less expensive than packaging created from plastic injection molding. Such occurrences show that the industry is anticipated to have significant adoption during the projected period.
- Food product packaging demands the packaging solution to have strong oxygen/moisture barriers, physical stress, temperature, contamination protection, and tamper resistance, all while combining the unique, functional design.
- Due to its strength, resilience, and tamper-resistance, thermoform packaging not only protects the items but also increases their shelf life or facilitates simple access. The adoption of thermoform packaging by industry participants is growing.
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Some of the Major Players in the Thermoform Packaging Market
- Sonoco Products Company
- Placon Corp.
- Display Pack, Inc.
- Pactiv LLC
- Amcor
- Mondi Group
- Dart Container Corp.
- Constantia
- Tray-Pak Corp.
- D&W Fine Pack
- Lacerta Group, Inc.
Thermoform Packaging Trends to Create Revenue-Generating Opportunities
Additionally affordable and practical, blister pack shipping encourages manufacturers to use the product. Thin-gauge and thick-gauge thermoforming are the two main varieties of thermoform packaging. Trays, blisters, and containers made of thin-gauge Thermoform polymers are often used to package food, medications, electrical components, and home care products. The pharmaceutical industry in the USA has noticed a movement away from conventional bottles and more toward blister packaging for the packaging of oral solid dosages.
This advancement can be largely attributed to blister packs and enhanced solid dosage individual moisture and oxygen resistance. Blisters are popular with pharmaceutical makers because they are inexpensive and portable. Due to its low cost, light weight, and aesthetic appeal, thermoform packaging is commonly used by producers of packaged foods.
Historical Outlook Vs Future Forecast for Thermoform Packaging Market
According to Future Market Insights, the thermoform packaging market increased from US$33.500 million in 2018 to US$41.500 million in 2022 at a CAGR of 5.5%. because the food, beverage, and pharmaceutical industries are seeing an increase in demand for thermoform packaging.
Additional advantages of thermoform packaging include its practicality and ease of use, preservation of food freshness and extension of shelf life, reduction of food product packaging costs, elimination of material waste, and facilitation of package customization. These advantages helped drive the growth of the global thermoform packaging market from 2023 to 2033. The market for thermoform packaging is projected to grow at a CAGR of 5.3% during the forecast period, according to a study by Future Market Insights.
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Thermoform Packaging Market Segmentation by Category
By Material:
- PET
- PVC
- PS
- PP
- PE
- Others
By Product:
- Blister
- Clamshell
- Skin Packaging
- Trays & Lids
- Containers
- Others
By Heat Seal Coating:
- Hot Melt-Based
- Solvent-Based
- Water-Based
By End User:
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Electronics
- Homecare
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Eastern Europe
- Western Europe
- Japan
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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