Thermoform Packaging Market - Forecast(2023 - 2028)
Thermoform Packaging Market Overview
Thermoform Packaging Market size is estimated to reach US$61.8
billion by 2027, after growing at a CAGR of 4.5% during the forecast period
2022-2027. Thermoform packaging is a molded product obtained by the thermoforming
process, which involves molding plastic such as polycarbonate, polyethylene,
polystyrene, polypropylene and polyethylene terephthalate into the desired
shape by heating and application of pressure. Thermoform Packaging is often
employed in the electrical & electronics industry which is growing. The Japan Electronics and
Information Technology Industries Association (JEITA) forecasted that the production
by the global electronics and IT industries will grow by 2% year on year in
2020 to reach US$2,972.7 billion and will grow by 7% year on year in 2021 to
reach a record US$3,175.6 billion. Several end-use industries in the Thermoform
Packaging industry suffered negative effects as a result of the novel
coronavirus pandemic, which had a direct impact on the Thermoform Packaging market
size in the year 2020.
Thermoform Packaging Market Report Coverage
The “Thermoform Packaging Market
Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis
of the following segments in the Thermoform Packaging industry.
By Material: Plastic (Polycarbonate, Polyethylene, Polystyrene, Polypropylene,
polyethylene terephthalate and Others), Metal and Paper & Paperboard.
By Type: Clamshells,
Blister Packs, Skin Packs, Trays & Lids, Cups & Bottles and Others.
By Heat Seal: Water-based, Solvent-based and Hot Melt-based.
By End-use Industry: Food & Beverages, Electrical & Electronics, Personal Care
& Cosmetics, Medical & Pharmaceuticals and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany,
France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific
(China, Japan, India, South Korea, Australia and New Zealand, Indonesia,
Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia,
Chile and Rest of South America), Rest of the World (the Middle East and Africa).
Key Takeaways
- North America dominates the Thermoform Packaging market, due to high disposable incomes in the regions. Moreover, increasing preference for packaged food and disposable product is also driving the market growth in North America.
- Thermoforming packaging has several advantages, including lightweight, protection, cost-effectiveness and reusability, which broadens its range of applications in the food and beverage, electronics, personal care, pharmaceutical and automotive sectors.
- The growth of the electronics industry has been greatly aided by the increasing adoption of e-commerce, which is expected to have a positive effect on Thermoform Packaging's market size expansion in the years to come.
Thermoform Packaging Market Segment Analysis – by Material
The plastic segment held a significant share in the Thermoform
Packaging market share in 2021 and is expected to grow at a CAGR of 4.8%
during the forecast period 2022-2027 because thermoformed plastic food packs
and blister packs are being used more frequently. When compared to other
options, plastic thermoform packaging made of polycarbonate, polyethylene,
polystyrene, polypropylene and polyethylene terephthalate is less expensive to
produce and offers more design flexibility. High strength, low weight and
recyclable qualities of PET material increase demand, which supports the
segment's expansion. Additionally, PET exhibits little water absorption and
doesn't react with food or drinks. These factors make plastic an ideal choice
for the thermoform packaging of consumable products.
Thermoform Packaging Market Segment Analysis – by End-use Industry
The food & beverage segment held a significant share in the Thermoform
Packaging market share in 2021 and is projected to grow at a CAGR of 5.2%
during the forecast period 2022-2027. The larger share of this segment was
attributed to the packaged food industry's extensive use of various products,
including trays, containers and clamshells. Over the forecast period, the
penetration of thermoform products in the food & beverage end-use industry
segment is increasing due to rising demand for convenience or packaged food
products as a result of changing lifestyles. Additionally, the number of people
who consume packaged foods worldwide is rising and the food retail industry is
growing, which is further supporting the market growth in the food &
beverage end-use industry, which is subsequently propelling the segment growth.
Thermoform Packaging Market Segment Analysis – by Geography
North America held the largest share in the Thermoform Packaging market share in 2021 up to 33.8%, owing to the bolstering growth of the food & beverage sector in the North America region. For instance, according to the United States Census Bureau, prior estimates of U.S. retail and food services sales for July 2022 were $682.8 billion, a 10.3 percent increase over July 2021. These estimates were adjusted for seasonal variation, holiday and trading-day differences, but not for price changes. Total sales increased 9.2% from May 2022 to July 2022 compared to the same time last year. The Mexican food processing sector is one of the most dynamic in the country, according to the United States Department of Agriculture (USDA), with average annual growth of 4.3 percent and a projected $39.4 billion GDP contribution to Mexico's economy in 2020. And with the increasing food & beverage industry in North America, the demand for thermoform packaging significantly increased, which accelerated the Thermoform Packaging market in North America.
Thermoform Packaging Market Drivers
Increasing Electrical & Electronics Industry:
The packaging of various electronics
products, such as headphones, batteries, mobile accessories and others, is
performed using thermoform containers, clamshells and blisters in the
electrical & electronics industry, which is another important end-user
industry segment. The consumer electronics and home appliance sector in India,
for example, generated $9.84 billion in revenue in 2021 and is expected to
increase to US$21.18 billion by 2025, according to the India Brand Equity
Foundation. The Japan Electronics and Information Technology Industries
Association predicts that the global electronics industry will produce 7% more
in 2021 than it did in 2020, totaling US$3,175.6 billion (JEITA). The operating
income for China's electronic information manufacturing industry reached
roughly 14.1 trillion yuan (roughly $2.2 trillion) in 2021, up 14.7 percent
from the year before, according to the Ministry of Industry and Information
Technology.
Flourishing Pharmaceutical Sector:
The pharmaceutical market is expanding quickly in developing
nations. The Brazilian, Chinese and Indian pharmaceutical markets expanded by
11.2 percent, 6.9 percent and 11.1 percent, respectively, between 2014 and
2019, according to the European Federation of Pharmaceutical Industries and
Associations (EFPIA). According to Invest India, India's pharmaceutical market
is predicted to be worth US$65 billion by 2024 and US$120 billion by 2030. The
value of the UK pharmaceutical industry is anticipated to increase by 19.3% to
£25 billion between 2018 and 2023, or 3.6 percent annually, according to
Enterprise Ireland. Due to the increase in the pharmaceutical industry, pharmaceutical
packaging is expected to exhibit rapid growth, thereby driving the Thermoform
Packaging market growth over the forecast period.
Thermoform Packaging Market Challenge
Drawbacks Associated with Thermoform Packaging:
Although thermoforming is a flexible process well-known in the
manufacturing sector for its affordability and relative ease, it has drawbacks.
Thin-walled designs are the only ones that can be processed. Weak points could
be created by the part's thickness being uneven in some places. When compared
to other plastic molding techniques like injection molding, it is a little more
expensive. It might require more plastic than other plastic molding techniques.
Due to its restriction on plastic sheets, it cannot be used with a variety of
materials. Thus, all these drawbacks are a significant challenge for the market
during the forecast period.
Thermoform Packaging Industry Outlook
Technology launches,
acquisitions and R&D activities are key strategies adopted by players in
the Thermoform Packaging market. The top 10 companies in the Thermoform
Packaging market are:
- Agoform GmbH
- Amcor Plc
- Anchor Packaging Inc.
- Berry Global Inc.
- Blisterpak, Inc.
- Brentwood Industries Inc
- CJK Thermoforming Solutions, LLC
- Constantia Flexibles Group GmbH
- D&W Fine Pack LLC
- Dart Container Corp.
Recent Developments
- In May 2022, Nefab launched a range of sustainable plastic packaging solutions, including thermoformed trays and cushioning applications.
- In May 2021, Sealed Air Corporation developed a thermoforming film that defies traditionally used thermoforming films, as it can reduce packaging weight by 50% and has high abrasion resistance.
- In February 2020, Sonoco Product Company made an agreement to purchase TEQ Thermoform Engineered Quality, a global manufacturer of thermoformed packaging and medical devices, serving healthcare and consumer markets.
Relevant Reports
Report Code: CMR 18558
Report Code: CMR 0202
Report Code: CMR 0217
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Thermoform Packaging Market, By Type Market 2019-2024 ($M)1.1 Clamshell Packaging Market 2019-2024 ($M) - Global Industry Research
1.2 Blister Packaging Market 2019-2024 ($M) - Global Industry Research
1.3 Skin Packaging Market 2019-2024 ($M) - Global Industry Research
2.Global Thermoform Packaging Market, By Material Market 2019-2024 ($M)
2.1 Plastic Market 2019-2024 ($M) - Global Industry Research
2.1.1 Polyethylene Terephthalate Market 2019-2024 ($M)
2.1.2 Polyvinyl Chloride Market 2019-2024 ($M)
2.1.3 Polyethylene Market 2019-2024 ($M)
2.1.4 Polypropylene Market 2019-2024 ($M)
2.1.5 Polystyrene Market 2019-2024 ($M)
2.1.6 Acrylonitrile Butadiene Styrene Market 2019-2024 ($M)
2.2 Aluminum Market 2019-2024 ($M) - Global Industry Research
2.3 Paper Paperboard Market 2019-2024 ($M) - Global Industry Research
3.Global Thermoform Packaging Market, By Heat Seal Coating Market 2019-2024 ($M)
3.1 Water-Based Market 2019-2024 ($M) - Global Industry Research
3.2 Solvent-Based Market 2019-2024 ($M) - Global Industry Research
3.3 Hot Melt-Based Market 2019-2024 ($M) - Global Industry Research
4.Global Thermoform Packaging Market, By End-User Industry Market 2019-2024 ($M)
4.1 Food Beverage Market 2019-2024 ($M) - Global Industry Research
4.2 Electronics Market 2019-2024 ($M) - Global Industry Research
4.3 Personal Care Cosmetic Market 2019-2024 ($M) - Global Industry Research
4.4 Pharmaceutical Market 2019-2024 ($M) - Global Industry Research
5.Global Thermoform Packaging Market, By Type Market 2019-2024 (Volume/Units)
5.1 Clamshell Packaging Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 Blister Packaging Market 2019-2024 (Volume/Units) - Global Industry Research
5.3 Skin Packaging Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Thermoform Packaging Market, By Material Market 2019-2024 (Volume/Units)
6.1 Plastic Market 2019-2024 (Volume/Units) - Global Industry Research
6.1.1 Polyethylene Terephthalate Market 2019-2024 (Volume/Units)
6.1.2 Polyvinyl Chloride Market 2019-2024 (Volume/Units)
6.1.3 Polyethylene Market 2019-2024 (Volume/Units)
6.1.4 Polypropylene Market 2019-2024 (Volume/Units)
6.1.5 Polystyrene Market 2019-2024 (Volume/Units)
6.1.6 Acrylonitrile Butadiene Styrene Market 2019-2024 (Volume/Units)
6.2 Aluminum Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 Paper Paperboard Market 2019-2024 (Volume/Units) - Global Industry Research
7.Global Thermoform Packaging Market, By Heat Seal Coating Market 2019-2024 (Volume/Units)
7.1 Water-Based Market 2019-2024 (Volume/Units) - Global Industry Research
7.2 Solvent-Based Market 2019-2024 (Volume/Units) - Global Industry Research
7.3 Hot Melt-Based Market 2019-2024 (Volume/Units) - Global Industry Research
8.Global Thermoform Packaging Market, By End-User Industry Market 2019-2024 (Volume/Units)
8.1 Food Beverage Market 2019-2024 (Volume/Units) - Global Industry Research
8.2 Electronics Market 2019-2024 (Volume/Units) - Global Industry Research
8.3 Personal Care Cosmetic Market 2019-2024 (Volume/Units) - Global Industry Research
8.4 Pharmaceutical Market 2019-2024 (Volume/Units) - Global Industry Research
9.North America Thermoform Packaging Market, By Type Market 2019-2024 ($M)
9.1 Clamshell Packaging Market 2019-2024 ($M) - Regional Industry Research
9.2 Blister Packaging Market 2019-2024 ($M) - Regional Industry Research
9.3 Skin Packaging Market 2019-2024 ($M) - Regional Industry Research
10.North America Thermoform Packaging Market, By Material Market 2019-2024 ($M)
10.1 Plastic Market 2019-2024 ($M) - Regional Industry Research
10.1.1 Polyethylene Terephthalate Market 2019-2024 ($M)
10.1.2 Polyvinyl Chloride Market 2019-2024 ($M)
10.1.3 Polyethylene Market 2019-2024 ($M)
10.1.4 Polypropylene Market 2019-2024 ($M)
10.1.5 Polystyrene Market 2019-2024 ($M)
10.1.6 Acrylonitrile Butadiene Styrene Market 2019-2024 ($M)
10.2 Aluminum Market 2019-2024 ($M) - Regional Industry Research
10.3 Paper Paperboard Market 2019-2024 ($M) - Regional Industry Research
11.North America Thermoform Packaging Market, By Heat Seal Coating Market 2019-2024 ($M)
11.1 Water-Based Market 2019-2024 ($M) - Regional Industry Research
11.2 Solvent-Based Market 2019-2024 ($M) - Regional Industry Research
11.3 Hot Melt-Based Market 2019-2024 ($M) - Regional Industry Research
12.North America Thermoform Packaging Market, By End-User Industry Market 2019-2024 ($M)
12.1 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
12.2 Electronics Market 2019-2024 ($M) - Regional Industry Research
12.3 Personal Care Cosmetic Market 2019-2024 ($M) - Regional Industry Research
12.4 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
13.South America Thermoform Packaging Market, By Type Market 2019-2024 ($M)
13.1 Clamshell Packaging Market 2019-2024 ($M) - Regional Industry Research
13.2 Blister Packaging Market 2019-2024 ($M) - Regional Industry Research
13.3 Skin Packaging Market 2019-2024 ($M) - Regional Industry Research
14.South America Thermoform Packaging Market, By Material Market 2019-2024 ($M)
14.1 Plastic Market 2019-2024 ($M) - Regional Industry Research
14.1.1 Polyethylene Terephthalate Market 2019-2024 ($M)
14.1.2 Polyvinyl Chloride Market 2019-2024 ($M)
14.1.3 Polyethylene Market 2019-2024 ($M)
14.1.4 Polypropylene Market 2019-2024 ($M)
14.1.5 Polystyrene Market 2019-2024 ($M)
14.1.6 Acrylonitrile Butadiene Styrene Market 2019-2024 ($M)
14.2 Aluminum Market 2019-2024 ($M) - Regional Industry Research
14.3 Paper Paperboard Market 2019-2024 ($M) - Regional Industry Research
15.South America Thermoform Packaging Market, By Heat Seal Coating Market 2019-2024 ($M)
15.1 Water-Based Market 2019-2024 ($M) - Regional Industry Research
15.2 Solvent-Based Market 2019-2024 ($M) - Regional Industry Research
15.3 Hot Melt-Based Market 2019-2024 ($M) - Regional Industry Research
16.South America Thermoform Packaging Market, By End-User Industry Market 2019-2024 ($M)
16.1 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
16.2 Electronics Market 2019-2024 ($M) - Regional Industry Research
16.3 Personal Care Cosmetic Market 2019-2024 ($M) - Regional Industry Research
16.4 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
17.Europe Thermoform Packaging Market, By Type Market 2019-2024 ($M)
17.1 Clamshell Packaging Market 2019-2024 ($M) - Regional Industry Research
17.2 Blister Packaging Market 2019-2024 ($M) - Regional Industry Research
17.3 Skin Packaging Market 2019-2024 ($M) - Regional Industry Research
18.Europe Thermoform Packaging Market, By Material Market 2019-2024 ($M)
18.1 Plastic Market 2019-2024 ($M) - Regional Industry Research
18.1.1 Polyethylene Terephthalate Market 2019-2024 ($M)
18.1.2 Polyvinyl Chloride Market 2019-2024 ($M)
18.1.3 Polyethylene Market 2019-2024 ($M)
18.1.4 Polypropylene Market 2019-2024 ($M)
18.1.5 Polystyrene Market 2019-2024 ($M)
18.1.6 Acrylonitrile Butadiene Styrene Market 2019-2024 ($M)
18.2 Aluminum Market 2019-2024 ($M) - Regional Industry Research
18.3 Paper Paperboard Market 2019-2024 ($M) - Regional Industry Research
19.Europe Thermoform Packaging Market, By Heat Seal Coating Market 2019-2024 ($M)
19.1 Water-Based Market 2019-2024 ($M) - Regional Industry Research
19.2 Solvent-Based Market 2019-2024 ($M) - Regional Industry Research
19.3 Hot Melt-Based Market 2019-2024 ($M) - Regional Industry Research
20.Europe Thermoform Packaging Market, By End-User Industry Market 2019-2024 ($M)
20.1 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
20.2 Electronics Market 2019-2024 ($M) - Regional Industry Research
20.3 Personal Care Cosmetic Market 2019-2024 ($M) - Regional Industry Research
20.4 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
21.APAC Thermoform Packaging Market, By Type Market 2019-2024 ($M)
21.1 Clamshell Packaging Market 2019-2024 ($M) - Regional Industry Research
21.2 Blister Packaging Market 2019-2024 ($M) - Regional Industry Research
21.3 Skin Packaging Market 2019-2024 ($M) - Regional Industry Research
22.APAC Thermoform Packaging Market, By Material Market 2019-2024 ($M)
22.1 Plastic Market 2019-2024 ($M) - Regional Industry Research
22.1.1 Polyethylene Terephthalate Market 2019-2024 ($M)
22.1.2 Polyvinyl Chloride Market 2019-2024 ($M)
22.1.3 Polyethylene Market 2019-2024 ($M)
22.1.4 Polypropylene Market 2019-2024 ($M)
22.1.5 Polystyrene Market 2019-2024 ($M)
22.1.6 Acrylonitrile Butadiene Styrene Market 2019-2024 ($M)
22.2 Aluminum Market 2019-2024 ($M) - Regional Industry Research
22.3 Paper Paperboard Market 2019-2024 ($M) - Regional Industry Research
23.APAC Thermoform Packaging Market, By Heat Seal Coating Market 2019-2024 ($M)
23.1 Water-Based Market 2019-2024 ($M) - Regional Industry Research
23.2 Solvent-Based Market 2019-2024 ($M) - Regional Industry Research
23.3 Hot Melt-Based Market 2019-2024 ($M) - Regional Industry Research
24.APAC Thermoform Packaging Market, By End-User Industry Market 2019-2024 ($M)
24.1 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
24.2 Electronics Market 2019-2024 ($M) - Regional Industry Research
24.3 Personal Care Cosmetic Market 2019-2024 ($M) - Regional Industry Research
24.4 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
25.MENA Thermoform Packaging Market, By Type Market 2019-2024 ($M)
25.1 Clamshell Packaging Market 2019-2024 ($M) - Regional Industry Research
25.2 Blister Packaging Market 2019-2024 ($M) - Regional Industry Research
25.3 Skin Packaging Market 2019-2024 ($M) - Regional Industry Research
26.MENA Thermoform Packaging Market, By Material Market 2019-2024 ($M)
26.1 Plastic Market 2019-2024 ($M) - Regional Industry Research
26.1.1 Polyethylene Terephthalate Market 2019-2024 ($M)
26.1.2 Polyvinyl Chloride Market 2019-2024 ($M)
26.1.3 Polyethylene Market 2019-2024 ($M)
26.1.4 Polypropylene Market 2019-2024 ($M)
26.1.5 Polystyrene Market 2019-2024 ($M)
26.1.6 Acrylonitrile Butadiene Styrene Market 2019-2024 ($M)
26.2 Aluminum Market 2019-2024 ($M) - Regional Industry Research
26.3 Paper Paperboard Market 2019-2024 ($M) - Regional Industry Research
27.MENA Thermoform Packaging Market, By Heat Seal Coating Market 2019-2024 ($M)
27.1 Water-Based Market 2019-2024 ($M) - Regional Industry Research
27.2 Solvent-Based Market 2019-2024 ($M) - Regional Industry Research
27.3 Hot Melt-Based Market 2019-2024 ($M) - Regional Industry Research
28.MENA Thermoform Packaging Market, By End-User Industry Market 2019-2024 ($M)
28.1 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
28.2 Electronics Market 2019-2024 ($M) - Regional Industry Research
28.3 Personal Care Cosmetic Market 2019-2024 ($M) - Regional Industry Research
28.4 Pharmaceutical Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Thermoform Packaging Market Revenue, 2019-2024 ($M)2.Canada Thermoform Packaging Market Revenue, 2019-2024 ($M)
3.Mexico Thermoform Packaging Market Revenue, 2019-2024 ($M)
4.Brazil Thermoform Packaging Market Revenue, 2019-2024 ($M)
5.Argentina Thermoform Packaging Market Revenue, 2019-2024 ($M)
6.Peru Thermoform Packaging Market Revenue, 2019-2024 ($M)
7.Colombia Thermoform Packaging Market Revenue, 2019-2024 ($M)
8.Chile Thermoform Packaging Market Revenue, 2019-2024 ($M)
9.Rest of South America Thermoform Packaging Market Revenue, 2019-2024 ($M)
10.UK Thermoform Packaging Market Revenue, 2019-2024 ($M)
11.Germany Thermoform Packaging Market Revenue, 2019-2024 ($M)
12.France Thermoform Packaging Market Revenue, 2019-2024 ($M)
13.Italy Thermoform Packaging Market Revenue, 2019-2024 ($M)
14.Spain Thermoform Packaging Market Revenue, 2019-2024 ($M)
15.Rest of Europe Thermoform Packaging Market Revenue, 2019-2024 ($M)
16.China Thermoform Packaging Market Revenue, 2019-2024 ($M)
17.India Thermoform Packaging Market Revenue, 2019-2024 ($M)
18.Japan Thermoform Packaging Market Revenue, 2019-2024 ($M)
19.South Korea Thermoform Packaging Market Revenue, 2019-2024 ($M)
20.South Africa Thermoform Packaging Market Revenue, 2019-2024 ($M)
21.North America Thermoform Packaging By Application
22.South America Thermoform Packaging By Application
23.Europe Thermoform Packaging By Application
24.APAC Thermoform Packaging By Application
25.MENA Thermoform Packaging By Application
26.Anchor Packaging Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Bemis Company, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Sonoco Product Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Amcor Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Placon Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Display Pack Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.E.I. Dupont Nemours And Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Pactiv Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Westrock Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.D Smith Plc, Sales /Revenue, 2015-2018 ($Mn/$Bn)