The global thermoforming packaging market is evaluated and discussed by Transparency Market Research for the forecast period (2019 to 2027). The report, titled “Thermoforming Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” states that the massive demand from food and pharmaceutical industries is anticipated to expand the global thermoforming packaging market by 1.7X during the forecast period.
In 2018, the global thermoforming packaging market was valued at over US$ 45 Bn and is expected to expand at a CAGR of 6.3% during the forecast period.
The global thermoforming packaging market is segmented on the basis of product type, material type, process type, and end-user industry. In the global thermoforming market, packaging industry is estimated to account for around 80% in terms of market value and is projected to show fast-paced growth owing to the high demand from evolving end-user industries such as food, pharmaceuticals, electrical & electronics.
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Sub-segments of the food industry- dairy, bakery & confectionery, and ready-to-eat meals are expected to develop in market size at an impressive growth rate in the thermoforming packaging market during 2019-2027. The pharmaceutical industry is projected to register the highest CAGR among other end-users of thermoforming packaging, on behalf of the increased demand for blister packaging for pharmaceuticals and medical devices.
Thermoforming Packaging Emerges as a Key Packaging Solution for the Growing Food Industry
The global food industry has reflected positive market sentiment with more than 10% growth in emerging markets and close to 10% growth in developed economies over the past few years.
On the backdrop of increasing demand, the thermoforming packaging sector has synchronized its offering to suit the requirements of the food industry. Thermoforming packaging such as clamshells, trays, containers, cups, and bottles are some examples of such packaging products evolved to cater to food industry.
The increasing demand for seafood, meat, and poultry industry is expected to drive the sales of thermoforming packaging during the forecast period. Consumers are inclined to buy products from organized retail shops instead of the normal grocery shops where thermoforming packaging plays a significant role in increasing the shelf life of the product.
Blister Thermoforming Packaging Represents an Effective Solution for Pharmaceutical Applications
Packaging plays an important part in drug delivery formats prevalent in the pharmaceutical sector. Pharmaceutical packaging has applications in pharmaceuticals for diverse purposes including carrying, storing, and shipping of medicines, medical devices, as well as drug dispensing systems. Thermoforming packaging products including blister packs have emerged as key packaging solutions to carry, organize, and ship medical devices and components through specific design specifications.
The ability to select suitable materials and implement complex design specifications has enabled thermoforming packaging products to be extensively adapted for pharmaceutical packaging purpose. Due to their lightweight and barrier resistance, blister thermoforming packaging products are gaining popularity as they ensure that the product is free from damage and moisture.
Thermoforming packaging products such as blisters for electronics and cosmetics industry are efficient to increase shelf appeal, owing to which it is gaining more attention of end-users. Use of less raw material in packaging, cost efficiency, attractive design, and customization are key features expected to propel the blister thermoforming packaging market.
In the global thermoforming packaging market report, prominent key players influencing the global and domestic thermoforming packaging market are analyzed to evaluate market by supply side. Key players profiled in the global thermoforming packaging market report are- Agoform GmbH, Amcor Limited, Anchor Packaging Inc., Bemis Company, 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., Display Pack Inc., Dordan Manufacturing Company, Inc., DS Smith Plc, Dupont Teijin Films U.S. Limited Partnership, Fabri-Kal Corp., Genpak LLC, HUHTAMAKI GROUP, Merrill’s Packaging, Inc., Pactiv LLC, Placon Corporation, Plastique Group Limited, Printpack, Inc., Winpak Ltd., Sabert Corp., Sealed Air Corporation, Sonoco Products Company, Tray-Pak Corporation, and UFP Technologies, Inc.
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Recent Developments in the Thermoforming Packaging Market
- In January 2019, Amcor Limited developed a transparent 200-ml polyethylene terephthalate (PET) thermoforming packaging jar with a wide-mouth opening for Danone (Paris) yogurt products.
- In November 2018, Placon (thermoforming packaging manufacturer) was awarded two Gold Awards at the annual parts competition during the Society of Plastics Engineers’ Thermoforming Conference September 24-26th in Dallas, TX.
- In August 2017, Dart Container Corporation invested over US$ 40 Mn in Michigan, United States for its innovation center, employing 136 people, to expand the thermoforming packaging product portfolio.
- In July 2017, Sonoco Products Company completed the acquisition of Clear Lam Packaging Inc., a manufacturer of flexible and rigid packaging materials used with food, personal, and health care products.
- In October 2018, Genpak LLC introduced new thermoforming packaging, microwavable, reusable, and recyclable container named Clover.
- In June 2018, Fabri-Kal Corporation launched a thermoforming packaging container named TruWare, made up from a minimum of 50% post-consumer recycled PET plastic.