Thermoform Packaging Market

Thermoform Packaging Market Research
Report By Forecast To 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Thermoform Packaging Market Forecast To 2023
Global Thermoform Packaging Market, By Material (Plastic, Paper & Paperboard, Aluminum), Type (Blister
Packaging, Skin Packaging, Clamshell Packaging, Others), Heat Seal Coating (Water-Based, Solvent-Based, Hot
Melt-Based), Application and Region - Forecast 2023
Thermoforming is a manufacturing process where thermoplastic sheets are heated to a temperature where it can be easily
bent to form the desired product. This type of packaging is largely used for food packing to maintain its freshness and
increase the shelf life of the product. Various retailers and food processors prefer thermoformed containers for packaging
over other packaging techniques. According to the MRFR analysis, the market for thermoform packaging is growing at a
rapid pace and is expected to gain prominence over the forecast period. The global thermoform packaging market is
estimated to grow at a CAGR of 5.72% during the estimated period (2017-2023).
The thermoform packaging market is driven by several factors such as increased consumption of processed and packed
foods & beverages. This packaging is light, flexible, odor-free, and moisture-free. Therefore, it is more preferred over other
packaged product such as glass. Due to these properties, the demand for thermoform packaging is likely to grow in the near
future. Moreover, environmental advantages of thermoform packaging are also stimulating the growth of the market. This
packaging includes low raw material consumption, low carbon emission, and relatively low waste produced as compared to
other packaging formats. However, availability of another alternative packaging may hinder the growth of the market.
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Thermoform Packaging Market Forecast To 2023
Market Segmentation
Thermoform Packaging Market Forecast To 2023
Segmentation: Global Thermoform Packaging Market
For the purpose of the study, the market has been segmented based on material, type, heat seal coating, and application.
On the basis of the material, the market is segmented into plastic, paper & paperboard, and aluminium. The plastic
accounted for the largest market share in 2016 as it provides high barriers, cost efficiency, temperature resistance, and
durable packaging. Plastic in the form of PVC, PE, PP, and others are used largely in plastic thermoform packaging segment.
On the basis of the heat seal coating, the market is segmented into water-based, solvent-based, and hot melt-based. The
solvent-based heat seal coating segment accounted for the largest market share of in 2016 due to its several advantages
such as strong bond strength that can be processed at different temperatures and resistance to water and grease. Waterbased heat seal coating is estimated to grow at the highest CAGR during the forecast period because it provides a strong
bond between corrugated and polyethylene skin pack films and reduces several adhesion challenges of thermoform
packaging and pouring the thermoform packaging market.
Based on the application, the market is segmented into food & beverage, pharmaceuticals, electronics, personal care and
others. The food & beverages segment accounted for the largest market share in 2016. Thermoformed products are largely
used by the food industry for the packing of fruits, vegetables, meat, poultry, fish in addition to prepared meals, and storage
products. Pharmaceutical is another major application of the thermoform packaging.
Thermoform Packaging Market Forecast To 2023
Regional Analysis : Global Thermoform Packaging Market
On the basis of the regions, the global thermoform packaging market has been segmented into North America, Europe, Asia
Pacific, and Rest of the World (RoW). European region accounted for the largest market share in 2016 due to the presence
of a high industrial base such as automobiles, food and beverages, and pharmaceuticals. Germany, the U.K, and France are
the major markets in the region. North America is another major region the thermoform packaging market mainly due to
the presence major retail chains such as Walmart Stores, and The Kroger Co. The U.S. accounts for a major share of the
North American market.
Asia Pacific region is projected to grow at the highest CAGR during the forecast period owing to booming e-commerce
industry. E-commerce industry offers an attractive and suitable shopping option to customers, which provides an innovative,
sustainable, and seamless experience over all the channels. This induces the growth of thermoform packaging. Additionally,
high growth in population and increasing purchase power of the consumer’s boost the growth of the market. China,
Thailand, and India are the vital contributor to Asia Pacific market. China accounts for the largest market share in the region
mainly due to fast growth in the urbanization and industrial development.
Hence, global thermoform packaging market is expected to reach a market size of USD 104,999.8 million by the end of the
forecast period at CAGR of 5.72%.
Thermoform Packaging Market Forecast To 2023
Key Players
The prominent players in the thermoform packaging are Bemis Company Inc. (U.S.), Amcor Limited (Australia), Sealed Air
Corporation (U.S.), Sonoco Products Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), WestRock Company
(U.S.), Tray Pack Corporation (U.S.), DS Smith Plc (U.K), Display Pack Inc. (U.S.), Lacerta Group (U.S.), RPC Group Plc (U.K),
Silgan Holdings Inc. (U.S.), Anchor Packaging (U.S.), Tekni-plex Inc. (U.S.), and Constantia Flexibles Group GmbH (Austria).
Target Audience
Raw Materials Suppliers
Aftermarket suppliers
Research Institute / Education Institute
Potential Investors
Key executive (CEO and COO) and strategy growth manager
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