Thermoforming is referred to a process in which a plastic sheet is heated to a pliable forming temperature, to form a specific shape in a mold and trimmed accordingly to create a usable product. Then, the sheet or film is heated in the oven over a high enough temperature so that it can be stretched into a mold and cooled to be in a final shape. The simplified version of thermoforming is vacuum forming. In other words, a small machine which is of laptop or tabletop size is used to cut heat small sections of a sheet and it is stretched over a mold using vacuum.
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 users, 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.
Besides food and beverage, pharmaceuticals segment is also expected to grow at a high pace on the back of increasing need for compartmentalization and cleanliness as required by the pharmaceutical products. The employment of thermoform packaging offers external protection to medical products while holding the internal ingredients safely.
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. Based on the 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. CLICK TO DOWNLOAD SAMPLE REPORT
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.
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.
Thermoform packages are preferred over wood and glass as they are light, flexible, odor-free and moisture free which helps to keep the product in its original form for a long time which is expected to boost the growth of the thermoform packaging market.
With changing lifestyle and improvement in standard of living, consumers are switching their preferences to packaged and fresh food. Moreover, advancements in thermoform manufacturing technology, shift toward lightweight packaging and rise in use of polylactic acid (PLA) films is expected to boost the growth of the thermoform packaging market.
Thermoform packaging is known for its feature of light weight packaging. Therefore, heavy items cannot be packaged with the help of thermoform packaging which is expected to hinder the growth of the thermoform packaging market.
Our-in depth analysis of the thermoform packaging market includes the following segments:
On the basis of regional analysis, the thermoform packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
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. Besides this, the market 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.
The thermoform packaging market is further classified on the basis of region as follows:
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