Thermoform Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Thermoform Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global thermoform packaging market size reached US$ 48.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 65.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2022-2028.

Thermoforming refers to a plastic forming technique that helps in making various packaging products. It involves heating rigid plastics, and other specialty materials to make them easy to manipulate. Thermoforming is differentiated as vacuum forming and pressure forming. In vacuum forming, plastic sheets are heated and placed over molds to be vacuumed into the desired shapes. On the other hand, in pressure forming, extra pressure is applied for better detail and texture. Thermoforming is utilized for making different packaging components and products. These products include unit dose packaging, such as blister packs for pharmaceutical and over-the-counter (OTC) drugs, clamshell packaging for health and beauty items, and plastic trays for food products. Thermoforming offers various benefits, including adaptability to dynamic requirements, low operating cost, and large-scale customization availability. It also has a fast turnout time, which makes the process ideal for fulfilling last-minute orders.

One of the key factors propelling the thermoform packaging market growth is its increasing usage in the food and beverages industry. Thermoform packaging solutions are characterized by various associated advantages, including extended product shelf-life, greater product visibility and better protection for products against external factors. Consequently, this type of packaging is now increasingly being used for vegetables, cheese, meat, and baked goods. Besides this, the cost-effectiveness of thermoform packaging and an increasing emphasis on the development of sustainable packaging solutions are contributing to the market growth further. Other factors, such as technological advancements in the production process, along with the widespread utilization of thermoform packaging solutions in the pharmaceutical industry, are expected to create a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global thermoform packaging market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, product and end use.

Breakup by Material:

PET

PVC

PS

PP

PE

Others

Breakup by Product:

Blister Packaging

Clamshell Packaging

Skin Packaging

Trays and Lids

Containers

Others

Breakup by End Use:

Food and Beverages

Personal Care and Cosmetics

Pharmaceuticals

Electronic Products

Homecare Products

Others

Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amcor Plc, Anchor Packaging LLC (Hermann Companies Inc.), Archer-Daniels-Midland Company, BASF SE, D&W Fine Pack Holdings LLC, Dart Container Corporation, Display Pack Inc., DS Smith Plc, Huhtamäki Oyj, Lacerta Group Inc., Pactiv LLC, Placon Corporation, Sonoco Products Company, Tekni-plex Inc. (Genstar Capital LLC) and WestRock Company.

Key Questions Answered in This Report:

How has the global thermoform packaging market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global thermoform packaging market?

What are the key regional markets?

What is the breakup of the market based on the material?

What is the breakup of the market based on the product?

What is the breakup of the market based on the end use?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global thermoform packaging market and who are the key players?

What is the degree of competition in the industry?