According to a recently published report by Research Nester on “Thermoform Packaging Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the thermoform packaging market in terms of market segmentation by material, by heat steal coating, by process type, by packaging type, by end- user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The thermoform packaging market is segmented by material, heat steal coating, packaging type, process type and end user. On the basis of material, the market is segmented into plastics, paper & paperboard, aluminium and others. On the basis of heat steel coating, the market is segmented into water based, hot melt based and solvent based. On the basis of packaging type, the market is segmented into blister card packaging, clamshell packaging, skin packaging and others. On the basis of process type, the market is segmented into vacuum, pressure and mechanical. Further, on the basis of end user, the market is segmented into pharmaceuticals, food & beverages, electronics, consumer goods and others. The plastics segmented is further sub segmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polystyrene (PS), polypropylene (PP), acrylonitrile butadiene styrene (ABS) and others. Blister card packaging segment is further sub segmented into full face steel, trapped blister, face seal and others. The thermoform packaging market is anticipated to record a CAGR of around 6% over the forecast period i.e. 2019-2027. The market is segmented by material, heat steal coating, packaging type, process type and end users. By end user, the food & beverages segment is anticipated to have significant growth on account of the versatility of thermoform packaging coupled with retention of flavor and aroma of food & beverages.
Asia Pacific market is expected to grow significantly on the back of the accessibility of cost-proficient thermoforming machines, low setup cost and increasing retail businesses. The region is also expected to expand attributing to the expanding pharmaceutical and the food & beverages sector. North America is expected to grow significantly owing to increasing demand for packaged food in the region and high percentage of both the consumers as well as the manufacturers of thermoform packages.
Rise in Application in food & beverage packaging industry
Application of thermoform is rising in the food & beverages industry owing to the versatility of thermoform packaging coupled with retention of flavor and aroma of food & beverages, rising demand for light weight packaging and growing consumer preferences with regard to fresh and packaged food which is expected to boost the growth of the thermoform packaging market.
Increase the shelf life of the product
The consumers have started to prefer more of fresh and packaged food as they retain the flavor and aroma of food & beverages. Thermoform packaging helps to store the food & beverages in their original form which provides them a longer shelf life which is expected to boost the growth of the thermoform packaging market.
However, limitation in packaging of heavy items is expected to operate as a key restraint towards the growth of thermoform packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the thermoform packaging market which includes company profiling of Display Pack Inc., Sonoco Products Company, Anchor Packaging Inc., Constantia Flexibles GmbH, El du Pont de Nemours & Co., DS Smith Plc., West Rock Company, Amcor Ltd., Bemis Company and Tekni- Plex Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the thermoform packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.