DUBLIN, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global packaging research business-consulting firm, has published a market intelligence and competitive landscape report on the “Thermoform Packaging Market”. As per the report, which is a combination of primary and secondary data, the total market opportunity for Thermoform Packaging was USD 45.17 Bn in 2021 and is expected to grow at 5.4 percent CAGR over the forecast period to reach USD 68.8 Bn.
| Market Size in 2021 | USD 45.17 Bn |
| Market Size in 2029 | USD 68.8 Bn |
| CAGR | 5.4 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 265 |
| No. of Tables | 120 |
| No. of Charts and Figures | 114 |
| Segment Covered | By Type, Heat Seal Coating, Material, and End-Use Industry |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Food & Beverages industry and 3D printing technology to drive the Thermoform Packaging Market growth
Packaging is a crucial process in the food & beverages industry. In Thermoform Packaging, it is possible to get the desired shape and size of the thin sheet as per the need. Flexibility provided by the thermoform products in the food & beverages industry is expected to drive the Thermoform Packaging Market growth. Demand for Thermoform in meat & poultry and seafood is expected to influence the market growth. 3D printing tools can be produced in less than two weeks with cheaper cost than aluminum tools. A catalysis coating package using 3D technology is the best solution to boost the Thermoform Packaging Market growth. Low cost and higher speed of Thermoform packaging than traditional packaging is expected to drive the Thermoform Packaging Market growth.
Reusable plastic Products, i.e. eco-friendly nature of packaging present lucrative opportunities for the growth of the Thermoform Packaging Market over the forecast period.
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Asia Pacific region to dominate the regional Thermoform Packaging market over the forecast period
Asia Pacific region dominated the Thermoform Packaging market in 2021 and is expected to continue the growth streak over the forecast period. Rising consumer preference for hygienic products and awareness regarding the thermoform packaging is expected to drive the regional Thermoform Packaging Market growth. The European region is expected to witness significant growth in the market due to regulations imposed by the government to ban single-use plastics to curb plastic waste, which is a factor to influence the European market growth.
Thermoform Packaging Market Segmentation
Based on Material, Plastic Segment is expected to hold the largest share of the Thermoform Packaging Market
Extensive adoption of plastic packaging in the food & beverages industry, electronics, healthcare, and cosmetics is primarily driving the plastic segment growth. Use of plastic including polyethylene terephthalate, and polyvinyl chloride for thermoforming to resilience to heat and temperature is accelerating the Thermoform Packaging Market growth.
By type, Blister packaging segment is expected to hold the largest market share over the forecast period
Increased use of polyvinyl chloride (PVC) in manufacturing blisters because of its low cost, good characteristics, and chemical resistance is expected to drive market growth. Blister is highly suitable for packaging food for long shelf life, which primarily drives the Thermoform Packaging Market growth.
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Based on End- Use Industry, food & beverage to drive the market growth over the forecast period
Rising food retail sector, changing lifestyle of consumers with demand for sustainable packaging materials is expected to drive the market growth. Increasing use of dairy products, including uniformity of end-product and cost efficiency is influencing the Thermoform Packaging Market growth.
By Type:
- Blister packaging
- Clamshell packaging
- Skin packaging
- Others
By Heat Seal Coating:
- Water-based
- Solvent-based
- Hot-melt-based
By Material:
- Plastic
- Aluminum
- Paper & paperboard
By End-Use Industry:
- Food & beverage
- Pharmaceuticals
- Electronics
- Home & personal care
- Others
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Leading Manufacturers in the Global Thermoform Packaging Market Include:
- WestRock Company (US)
- Lacerta Group (US)
- DuPont (US)
- DS Smith (UK)
- Sonoco Products (US)
- Anchor Packaging (US)
- Tekni-plex Inc. (US)
- Display Pack (US)
- Archer Daniels Midland (US)
- Berry Global Inc. (US)
- Blisterpak, Inc. (US)
- Brentwood Industries, Inc. (US)
- CJK Thermoforming Solutions (US)
- D&W Fine Pack (US)
- Dart Container Corporation (US)
- DISPLAY PACK (US)
- Dordan Manufacturing Company (US)
- Fabri-Kal (US)
- Genpak(US)
- Bemis Co., Inc. (US)
- Mondini SPA (Italy)
- Amcor Limited (Australia)
- CONSTANTIA (Austria)
- Huhtamaki Group (Finland)
- BASF SE (Germany)
WestRock Company (US)
Their purpose is to innovate boldly, Package sustainably. At WestRock, they are using imagination and expertise to turn big challenges into real solutions. They are materials scientists, packaging designers, mechanical engineers, and manufacturing experts using leading science and technology to drive innovation in packaging. By taking risks, learning from experience and thinking long term, they are emboldened to dream big about the future of packaging.
Anchor Packaging (US)
Anchor Packaging’s mission is to be the global innovation leader in the design and manufacture of rigid food containers and all-purpose food service cling film and then to continuously improve, their ability to satisfy food packaging and food protection needs for the end-user consumer. Customized packaging, with consistently high quality and at a price that fits their market strategy is their goal.
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Type, Heat seal coating, Material and End-use
- industry
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis, Recommendations.
Key questions answered in the Thermoform Packaging Market are:
- What is Thermoform Packaging?
- Which is the fastest-growing segment in the Thermoform Packaging Market?
- What was the Thermoform Packaging market size in 2021?
- What is the growth rate of the Thermoform Packaging Market?
- Which market dynamics are expected to boost the Thermoform Packaging market growth?
- Which segment dominated the Thermoform Packaging market growth?
- What is the demand pattern for the Thermoform Packaging market?
- Which region held the largest share in the Thermoform Packaging market?
- Who are the key players in the Thermoform Packaging market?
- What are the technological developments in the Thermoform Packaging Market?
- Which regions are expected to present lucrative opportunities for the Thermoform Packaging Market?
Maximize Market Research is leading packaging research firm, has also published the following reports:
Global Pharmaceutical Blister Packaging Market: The total market size is expected to grow at a CAGR of 6.3 percent during the forecast period and the market size is expected to reach nearly USD 16.10 Bn by 2029. Growing preference for smart blister packaging and the growth of super barrier coating for blister packaging to protect ultra-sensitive drugs is expected to boost the market growth.
Rigid Plastic Packaging Market: The total market size is expected to reach nearly USD 259.02 Bn by 2027 with a CAGR of 4.5 percent during the forecast period. Rigid transparent plastics are used across the automotive, aviation, construction, electrical and electronics, and lighting sector, which are the factors expected to drive the market growth.
Cold Form Blister Packaging Market: The total market size is expected to grow at a CAGR of 6.8 percent during the forecast period and is expected to reach USD 5.65 Bn by 2029. Use of packaging materials that offer optimal protection and safety drives the market growth.
Blister Packaging Market: The total market size was valued at USD 21.61 Bn in 2021, and it is expected to reach USD 42.49 Bn by 2029, exhibiting a CAGR of 8.82 percent during the forecast period 2022-2029. Demand for pharmaceutical goods from conventional bottles and toward unit-dose blister packaging is expected to drive market growth.
Food Service Packaging Market: The total market size is expected to reach USD 121.61 Bn by 2029, at a CAGR of 10.2 percent during the forecast period. Growing consumption of pre-packaged food is expected to drive market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
