Global Thermoforming Packaging Market is valued approximately at USD 41.83 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.9% over the forecast period 2020-2027. Thermoforming is a plastic molding process in which plastic material is heated to its pliable temperature and, by using molding, is shaped into the desired shape. The thermoforming process is divided into two groups, thin gage and thick thermoforming gauge. Thin gauges thermoform products such as blisters, clamshells, trays & lids, and others are commonly used for packaging various food items, electronics, pharmaceuticals, and home care. The emerging food industry and sustainable packaging requirement are expected to be the key drivers for the growth of the global market for thermoforming packaging. Asia Pacific is expected to be a lucrative marketplace when it comes to demand for thermoforming packaging. In terms of the availability of cost-effective and high-quality thermoforming packaging products, the introduction of new players into the production stream is becoming advantageous for end-users. Moreover, Thermoforming technology has been developed to allow custom packaging solutions that attract customers and increase the purchasing chances at the point of sale. New packaging items can be prototyped in only a short time. Furthermore, strong demand for lightweight packaging items drive the growth of the global market for thermoform packaging significantly. A variety of manufacturers have begun using lightweight packaging materials to resolve cost-related issues around the supply chain. In addition, manufacturers are inclined towards biodegradable, bio-derived, and recyclable polymers as alternatives to conventional polymers based on petroleum. For instance, in October 2019, GEA has launched a sustainable solution, FoodTray, incorporating the benefits of thermoforming technology, carton and video, to produce reusable packaging that can minimize food waste. The main driving factor for the market is expected to be the growing trend towards consumption of on-the-go, single-serve, ready to eat food items. The increasing demand of thermoformed items such as clamshells, trays, and containers from food service operators is expected to further fuel market growth. Stringent plastics regulations, however, could impede market growth over the forecast period.
The regional analysis of global Thermoforming Packaging Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific region is expected to rise significantly owing to the rapid urbanization and promising growth of the retail sector in India and China are projected to fuel demand for thermoforming packaging goods. Rapid growth of food distribution systems and outlets in developing Asia Pacific countries is projected to fuel demand for thermoform packaging trays and lids. The development of cost-effective thermoforming machines and low set-up costs are projected to increase suppliers of thermoforming packaging items in the Asia Pacific region.
Major market player included in this report are:
Lacerta Group, Inc.
Sonoco Products Company
Display Pack Inc.
Dart Container Corporation
Constantia Flexibles GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Trays & Lids
Food & Beverage
Personal Care & Cosmetics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Thermoforming Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers