Thermoform Packaging Market Forecasts to 2030 – Global Analysis By Product Type (Thermoformed Blister Packaging, Thermoformed Clamshell Packaging, Thermoformed Skin Packaging, Trays & Lids, Containers and Other Product Types), Material Type (Polyethylene

Thermoform Packaging Market Forecasts to 2030 – Global Analysis By Product Type (Thermoformed Blister Packaging, Thermoformed Clamshell Packaging, Thermoformed Skin Packaging, Trays & Lids, Containers and Other Product Types), Material Type (Polyethylene Terephthalate, Polyvinyl Chloride, Polystyrene, Polyethylene, Paperboard, Aluminum and Other Materials Types), Process Type, Heat Seal, End User and By Geography


According to Stratistics MRC, the Global Thermoform Packaging Market is accounted for $47.6 billion in 2023 and is expected to reach $77 billion by 2030 growing at a CAGR of 7.1% during the forecast period. Thermoform packaging is a manufacturing process used to create customized, three-dimensional plastic packaging products from flat sheets of thermoplastic material. Thermoform packaging is widely utilized across various industries for packaging a diverse range of products. It offers versatility in design, allowing for the creation of intricate shapes and contours to meet specific packaging requirements.

Market Dynamics:

Driver:

Transparent Packaging

Thermoformed materials like PET and PVC offer excellent transparency, allowing consumers to visually inspect the product before purchase. This transparency is especially crucial in retail settings, where showcasing the product's quality and attributes influences consumer buying decisions. Moreover, transparent packaging not only builds trust by providing a clear view of the enclosed product but also allows for creative and attractive product presentations. These factors accelerate market demand.

Restraint:

Environmental concerns

The thermoform packaging market faces a significant threat from environmental concerns. The manufacturing process of thermoform packaging, which involves the consumption of energy and the emission of greenhouse gases, contributes to carbon footprints and climate change. Additionally, the extraction and processing of raw materials for plastics can have detrimental effects on natural resources and ecosystems.

Opportunity:

Consumer convenience

Thermoformed packaging solutions offer features that prioritize ease of use and enhance the overall consumer experience. The design flexibility of thermoforming allows for the incorporation of user-friendly features such as easy-open mechanisms, resalable options, and portion control. Furthermore, these elements align with evolving consumer preferences for convenience, enabling quick and effortless access to the packaged product.

Threat:

Shift towards sustainable alternatives

Traditional thermoform packaging materials, often derived from fossil fuels, face increasing scrutiny as environmentally conscious consumers and businesses seek alternatives. Sustainable packaging options, such as biodegradable plastics, compostable materials, and plant-based alternatives, are gaining traction due to their reduced environmental impact. However, as eco-friendly packaging gains momentum, the thermoform packaging market may experience a decline in demand.
Covid-19 Impact

The lockdowns and restrictions imposed globally affected end-user industries such as retail, automotive, and electronics, dampening the demand for thermoform packaging. However, the pandemic also highlighted the critical role of thermoform packaging in ensuring the safety and hygiene of products, particularly in essential sectors like food, pharmaceuticals, and healthcare. Moreover, the need for secure and protective packaging surged, driving demand for thermoformed solutions.

The polyethylene terephthalate segment is expected to be the largest during the forecast period

The polyethylene terephthalate segment is estimated to hold the largest share. Known for its versatility and clarity, PET is a popular choice for packaging various products, such as food, beverages, and personal care items. In thermoform packaging, PET is particularly favoured for its ability to withstand high temperatures during the thermoforming process. As consumer preferences shift towards eco-friendly options, PET continues to play a pivotal role in the thermoform packaging market.

The food & beverage segment is expected to have the highest CAGR during the forecast period

The food & beverage segment is anticipated to have lucrative growth during the forecast period. Thermoform packaging is particularly well-suited for the unique requirements of the food and beverage industry due to its versatility, transparency, and protective qualities. The transparent nature of thermoformed packaging enhances product visibility, allowing consumers to inspect the quality and freshness of the contents before purchase.

Region with largest share:

North America commanded the largest market share during the extrapolated period. Characterized by a mature packaging industry, the region is witnessing a surge in the adoption of thermoform packaging solutions. Factors such as heightened consumer awareness, stringent regulations promoting sustainable packaging, and the burgeoning food and healthcare sectors drive market demand. Moreover, the region's inclination towards convenience-oriented packaging solutions is fostering the growth of thermoform packaging.

Region with highest CAGR:

Asia Pacific is expected to witness profitable growth over the projection period. The region's economic growth, urbanization, and changing consumer lifestyles are key drivers for the increased demand in various industries, including food and beverage, electronics, and healthcare. Additionally, the region is witnessing a growing awareness of environmental concerns, prompting a shift towards eco-friendly and recyclable materials in thermoform packaging.

Key players in the market

Some of the key players in the Thermoform Packaging Market include Placon Corp., Constantia, Amcor, Pactiv LLC, Sonoco Products Company, Dart Container Corp., Display Pack, Inc., D&W Fine Pack, Tray-Pak Corp. and Lacerta Group, Inc.

Key Developments:

In May 2023, Amcor, Delterra, Mars and P&G jointly announce the launch of a strategic partnership to stem the tide of plastic pollution in the Global South. These global leaders will work together to scale upstream and downstream solutions for a circular plastics economy, jointly committing $6 million USD over five years.

In April 2023, Constantia, a leading manufacturer in the flexible packaging industry, is excited to announce the completion of its acquisition of Lászlópack Kft., a Hungarian flexible packaging producer specializing in flexo printing.

In June 2022, Constantia and Plasthill Technical Films have collaborated to scale the former’s proprietary micro embossing technology, CompressSeal, which offers higher seal integrity than standard polyethylene (PE) films while weighing up to 30% less without compromising on thickness.

In March 2021, Amcor announces new partnership with Alliance to End Plastic Waste. Alliance membership also aligns with Amcor’s 2025 Sustainability Pledge to develop all its packaging to be recyclable or reusable by 2025.

Product Types Covered:
• Thermoformed Blister Packaging
• Thermoformed Clamshell Packaging
• Thermoformed Skin Packaging
• Trays & Lids
• Containers
• Other Product Types

Material Types Covered:
• Polyethylene Terephthalate
• Polyvinyl Chloride
• Polystyrene
• Polyethylene
• Paperboard
• Aluminum
• Other Materials Types

Process Types Covered:
• Pressure
• Vaccum
• Mechanical

Heat Seals Covered:
• Hot Melt-Based
• Solvent-Based
• Water-Based

End Users Covered:
• Pharmaceuticals
• Food & Beverage
• Cosmetics
• Electronics
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Thermoform Packaging Market, By Product Type
5.1 Introduction
5.2 Thermoformed Blister Packaging
5.3 Thermoformed Clamshell Packaging
5.4 Thermoformed Skin Packaging
5.5 Trays & Lids
5.6 Containers
5.7 Other Product Types
6 Global Thermoform Packaging Market, By Material Type
6.1 Introduction
6.2 Polyethylene Terephthalate
6.3 Polyvinyl Chloride
6.4 Polystyrene
6.5 Polyethylene
6.6 Paperboard
6.7 Aluminum
6.8 Other Materials Types
7 Global Thermoform Packaging Market, By Process Type
7.1 Introduction
7.2 Pressure
7.3 Vaccum
7.4 Mechanical
8 Global Thermoform Packaging Market, By Heat Seal
8.1 Introduction
8.2 Hot Melt-Based
8.3 Solvent-Based
8.4 Water-Based
9 Global Thermoform Packaging Market, By End User
9.1 Introduction
9.2 Pharmaceuticals
9.3 Food & Beverage
9.4 Cosmetics
9.5 Electronics
9.6 Other End Users
10 Global Thermoform Packaging Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Placon Corp.
12.2 Constantia
12.3 Amcor
12.4 Pactiv LLC
12.5 Sonoco Products Company
12.6 Dart Container Corp.
12.7 Display Pack, Inc.
12.8 D&W Fine Pack
12.9 Tray-Pak Corp.
12.10 Lacerta Group, Inc.
List of Tables
Table 1 Global Thermoform Packaging Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Thermoform Packaging Market Outlook, By Product Type (2021-2030) ($MN)
Table 3 Global Thermoform Packaging Market Outlook, By Thermoformed Blister Packaging (2021-2030) ($MN)
Table 4 Global Thermoform Packaging Market Outlook, By Thermoformed Clamshell Packaging (2021-2030) ($MN)
Table 5 Global Thermoform Packaging Market Outlook, By Thermoformed Skin Packaging (2021-2030) ($MN)
Table 6 Global Thermoform Packaging Market Outlook, By Trays & Lids (2021-2030) ($MN)
Table 7 Global Thermoform Packaging Market Outlook, By Containers (2021-2030) ($MN)
Table 8 Global Thermoform Packaging Market Outlook, By Other Product Types (2021-2030) ($MN)
Table 9 Global Thermoform Packaging Market Outlook, By Material Type (2021-2030) ($MN)
Table 10 Global Thermoform Packaging Market Outlook, By Polyethylene Terephthalate (2021-2030) ($MN)
Table 11 Global Thermoform Packaging Market Outlook, By Polyvinyl Chloride (2021-2030) ($MN)
Table 12 Global Thermoform Packaging Market Outlook, By Polystyrene (2021-2030) ($MN)
Table 13 Global Thermoform Packaging Market Outlook, By Polyethylene (2021-2030) ($MN)
Table 14 Global Thermoform Packaging Market Outlook, By Paperboard (2021-2030) ($MN)
Table 15 Global Thermoform Packaging Market Outlook, By Aluminum (2021-2030) ($MN)
Table 16 Global Thermoform Packaging Market Outlook, By Other Materials Types (2021-2030) ($MN)
Table 17 Global Thermoform Packaging Market Outlook, By Process Type (2021-2030) ($MN)
Table 18 Global Thermoform Packaging Market Outlook, By Pressure (2021-2030) ($MN)
Table 19 Global Thermoform Packaging Market Outlook, By Vaccum (2021-2030) ($MN)
Table 20 Global Thermoform Packaging Market Outlook, By Mechanical (2021-2030) ($MN)
Table 21 Global Thermoform Packaging Market Outlook, By Heat Seal (2021-2030) ($MN)
Table 22 Global Thermoform Packaging Market Outlook, By Hot Melt-Based (2021-2030) ($MN)
Table 23 Global Thermoform Packaging Market Outlook, By Solvent-Based (2021-2030) ($MN)
Table 24 Global Thermoform Packaging Market Outlook, By Water-Based (2021-2030) ($MN)
Table 25 Global Thermoform Packaging Market Outlook, By End User (2021-2030) ($MN)
Table 26 Global Thermoform Packaging Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
Table 27 Global Thermoform Packaging Market Outlook, By Food & Beverage (2021-2030) ($MN)
Table 28 Global Thermoform Packaging Market Outlook, By Cosmetics (2021-2030) ($MN)
Table 29 Global Thermoform Packaging Market Outlook, By Electronics (2021-2030) ($MN)
Table 30 Global Thermoform Packaging Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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