Thermoforming Packaging Market
Thermoforming Packaging Market (Type - Blister Packs, Clamshells, Vacuum & Skin Packs, Containers, Trays & Lids, Cups & Bottles; Material Type - Plastic, Paper, Aluminum; Process Type - Vacuum, Pressure, Mechanical; Application - Food, Beverage, Pharmaceutical, Cosmetic & Personal Care, Homecare & Toiletries, Industrial Goods, Electrical & Electronics) - Global Industry, Size, Share, Growth, Trends, Forecast 2019 - 2027
The global thermoforming packaging market is evaluated and discussed by Transparency Market Research for the forecast period (2019 to 2027). The report, titled “Thermoforming Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” states that the massive demand from food and pharmaceutical industries is anticipated to expand the global thermoforming packaging market by 1.7X during the forecast period.
In 2018, the global thermoforming packaging market was valued at over US$ 45 Bn and is expected to expand at a CAGR of 6.3% during the forecast period.
The global thermoforming packaging market is segmented on the basis of product type, material type, process type, and end-user industry. In the global thermoforming market, packaging industry is estimated to account for around 80% in terms of market value and is projected to show fast-paced growth owing to the high demand from evolving end-user industries such as food, pharmaceuticals, electrical & electronics.
Sub-segments of the food industry- dairy, bakery & confectionery, and ready-to-eat meals are expected to develop in market size at an impressive growth rate in the thermoforming packaging market during 2019-2027. The pharmaceutical industry is projected to register the highest CAGR among other end-users of thermoforming packaging, on behalf of the increased demand for blister packaging for pharmaceuticals and medical devices.
Thermoforming Packaging Emerges as a Key Packaging Solution for the Growing Food Industry
The global food industry has reflected positive market sentiment with more than 10% growth in emerging markets and close to 10% growth in developed economies over the past few years.
On the backdrop of increasing demand, the thermoforming packaging sector has synchronized its offering to suit the requirements of the food industry. Thermoforming packaging such as clamshells, trays, containers, cups, and bottles are some examples of such packaging products evolved to cater to food industry.
The increasing demand for seafood, meat, and poultry industry is expected to drive the sales of thermoforming packaging during the forecast period. Consumers are inclined to buy products from organized retail shops instead of the normal grocery shops where thermoforming packaging plays a significant role in increasing the shelf life of the product.
Blister Thermoforming Packaging Represents an Effective Solution for Pharmaceutical Applications
Packaging plays an important part in drug delivery formats prevalent in the pharmaceutical sector. Pharmaceutical packaging has applications in pharmaceuticals for diverse purposes including carrying, storing, and shipping of medicines, medical devices, as well as drug dispensing systems. Thermoforming packaging products including blister packs have emerged as key packaging solutions to carry, organize, and ship medical devices and components through specific design specifications.
The ability to select suitable materials and implement complex design specifications has enabled thermoforming packaging products to be extensively adapted for pharmaceutical packaging purpose. Due to their lightweight and barrier resistance, blister thermoforming packaging products are gaining popularity as they ensure that the product is free from damage and moisture.
Thermoforming packaging products such as blisters for electronics and cosmetics industry are efficient to increase shelf appeal, owing to which it is gaining more attention of end-users. Use of less raw material in packaging, cost efficiency, attractive design, and customization are key features expected to propel the blister thermoforming packaging market.
In the global thermoforming packaging market report, prominent key players influencing the global and domestic thermoforming packaging market are analyzed to evaluate market by supply side. Key players profiled in the global thermoforming packaging market report are- Agoform GmbH, Amcor Limited, Anchor Packaging Inc., Bemis Company, Inc., Berry Global Inc., Blisterpak, Inc., Brentwood Industries Inc., CJK Thermoforming Solutions, LLC, Constantia Flexibles Group GmbH , D&W Fine Pack LLC, Dart Container Corp., Display Pack Inc., Dordan Manufacturing Company, Inc., DS Smith Plc, Dupont Teijin Films U.S. Limited Partnership, Fabri-Kal Corp., Genpak LLC, HUHTAMAKI GROUP, Merrill's Packaging, Inc., Pactiv LLC, Placon Corporation, Plastique Group Limited, Printpack, Inc., Winpak Ltd., Sabert Corp., Sealed Air Corporation, Sonoco Products Company, Tray-Pak Corporation, and UFP Technologies, Inc.
Recent Developments in the Thermoforming Packaging Market
- In January 2019, Amcor Limited developed a transparent 200-ml polyethylene terephthalate (PET) thermoforming packaging jar with a wide-mouth opening for Danone (Paris) yogurt products.
- In November 2018, Placon (thermoforming packaging manufacturer) was awarded two Gold Awards at the annual parts competition during the Society of Plastics Engineers’ Thermoforming Conference September 24-26th in Dallas, TX.
- In August 2017, Dart Container Corporation invested over US$ 40 Mn in Michigan, United States for its innovation center, employing 136 people, to expand the thermoforming packaging product portfolio.
- In July 2017, Sonoco Products Company completed the acquisition of Clear Lam Packaging Inc., a manufacturer of flexible and rigid packaging materials used with food, personal, and health care products.
- In October 2018, Genpak LLC introduced new thermoforming packaging, microwavable, reusable, and recyclable container named Clover.
- In June 2018, Fabri-Kal Corporation launched a thermoforming packaging container named TruWare, made up from a minimum of 50% post-consumer recycled PET plastic.
In this report, Transparency Market Research offers an 8-year forecast of the global thermoforming packaging market between 2019 and 2027. In terms of value, the global thermoforming packaging market is expected to expand at a value CAGR of 6.3% during the forecast period. The study reveals the dynamics of the thermoforming packaging market in five geographic segments, along with market analysis for the current market environment and future scenario over the forecast period of the global thermoforming packaging market.
This Transparency Market Research report studies the global thermoforming packaging market for the period 2019–2027. The prime objective of this report is to offer insights and key market trends pertaining to the thermoforming packaging market that are gradually helping transform global businesses.
The global thermoforming packaging market report begins with an executive summary for various categories and their share in the thermoforming packaging market. It is followed by the market background section which includes market dynamics, an overview of the global packaging market, TMR analysis of the market drivers, restraints, opportunity analysis, prominent merger and acquisition in the paper packaging industry, Porter’s Five Forces analysis, PESTLE analysis of United States, South Africa, China, Brazil, and Germany, macro-economic indicators along with correlation analysis, value chain analysis, pricing analysis by product type, and trends that are affecting the growth of the thermoforming packaging market.
Furthermore, to understand the popularity of the various thermoforming packaging segments, an attractiveness index and BPS analysis with elaborated insights on the same is provided, which will show the market’s attractiveness based on factors such as CAGR, incremental opportunity, and estimated market share in 2019. To show the performance of the thermoforming packaging market in each country and region, BPS and attractiveness analysis are provided.
The global market for thermoforming packaging is segmented by product type, process type, material type, and application. On the basis of product type, the global market for thermoforming packaging is segmented into blister packs, clamshells, vacuum & skin packs, containers, trays & lids, and cups & bottles. On the basis of material type, the global thermoforming packaging market is segmented into plastic, paper, and aluminium. The plastic segment is further categorised into polyethylene terephthalate, (PET), polyvinyl chloride (PVC), polypropylene (PP), polyethylene (PE), polystyrene (PS), polylactic acid (PLA), and others. On the basis of process type, the global thermoforming packaging market is segmented into vacuum process, pressure process, and mechanical process.
On the basis of application, the global thermoforming packaging market is segmented into food and beverages, pharmaceuticals, cosmetics & personal care, homecare & toiletries, industrial goods, and electrical & electronics. The food segment is further segmented into dairy, bakery & confectionery, meat, poultry & seafood, snacks & savory items, ready-to-eat meals, fresh produce, frozen foods, and others.
The next section of the report highlights the thermoforming packaging market by region and provides the market outlook for 2019–2027. The study investigates segment-wise market share & BPS regionally, as well as analyses the drivers that influence the regional thermoforming packaging market. The main regions assessed in the thermoforming packaging market report include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). The report evaluates the present scenario and growth prospects of the regional thermoforming packaging market for 2019–2027.
To ascertain the size of the thermoforming packaging market in terms of value and volume, the revenue generated by key manufacturers and their respective production capacities are taken into consideration. The forecast presented here assesses the total revenue generated by value, across the thermoforming packaging market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis of how the thermoforming packaging market is expected to develop in the future.
Given the characteristics of the thermoforming packaging market, we triangulated the outcome on the basis of three different types of analysis - based on the supply side, downstream industry demand, and economic envelope. In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the thermoforming packaging market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the thermoforming packaging market, and identify the right opportunities across the market.
The market segments for the global thermoforming packaging market have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contribution to market growth. This detailed level of information is important for identifying various key trends in the thermoforming packaging market. Another key feature of the global thermoforming packaging market is the analysis of key segments in terms of absolute dollar opportunity.
Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the thermoforming packaging market. The overall absolute dollar opportunity along with the segmental split is mentioned in the global thermoforming packaging market report.
Transparency Market Research has developed the thermoforming packaging market attractiveness index. The resulting index should help providers identify real market opportunities.
In the final section of the thermoforming packaging market report, a 'dashboard view' of the companies is provided to compare the current industrial scenario and their contribution to the total thermoforming packaging market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key thermoforming packaging providers specific to a market segment. Thermoforming packaging report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the thermoforming packaging marketplace.
30 key players operating in the global thermoforming packaging market were critically analysed during the course of the study, which include Agoform GmbH, Amcor Limited, Anchor Packaging Inc., Bemis Company, Inc., Berry Global Inc., Blisterpak, Inc., Brentwood Industries Inc., CJK Thermoforming Solutions, LLC, Constantia Flexibles Group GmbH, D&W Fine Pack LLC, Dart Container Corp., Display Pack Inc., Dordan Manufacturing Company, Inc., DS Smith Plc, Dupont Teijin Films U.S. Limited Partnership, Fabri-Kal Corp., Genpak LLC, Huhtamaki Group, Merrill’s Packaging, Pactiv LLC, Placon Corporation, Plastique (Subsidiary of ESCO Technologies Inc), Printpack, Inc., Winpak Limited, Sabert Corp., Sealed Air Corporation, Sonoco Products Company, Tray-Pak Corporation, UFP Technologies, Inc., and Universal Plastics Corporation.