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Global Thermoform Packaging Market Size, Trends, and Analysis - Forecasts To 2026 By Type (Blister Packaging, Clamshell Packaging, Skin Packaging, Others), By Heat Seal Coating (Water-Based Heat Seal Coating, Solvent-Based Heat Seal Coating, Hot-Melt-Based Heat Seal Coating), By Material (Plastic, Aluminum, Paper & Paperboard) By End-Use Industry (Food & Beverage, Pharmaceuticals, Electronics, Home & Personal Care, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Thermoform packaging products are formed through a plastics manufacturing process called thermoforming. In thermoforming, plastics are heated till they become pliable and are then placed in molds so that the plastic takes the shape of the mold. The thermoforming process can be differentiated into two main types, thin-gauge and thick-gauge thermoforming. Thermoform packaging has increased in demand in recent years due to the growth of the food and beverages and pharmaceutical industry. Thermoform packaging is lightweight, durable, reusable, convenient, and its high customizability have all contributed to the growth of the thermoform packaging market. Thermoform packaging also produces less material wastage, cheaper to manufacture, enhances the shelf life of the products, and provides increased protection against moisture and gases. The high customizability of thermoform packaging increases the appeal of the products to the customers which has proven to increase the sales revenue of products employing thermoform packaging. Technological advancements in thermoforming have increased the degree of customizability of plastics and have made them cost-effective, and less time-consuming to produce. The lightweight nature of thermoform packaging has reduced the cost of transportation and storage which makes them more cost-effective for manufacturers. Thermoform packaging has added environmental advantages compared to other packaging options. Thermoform packaging has a low raw material requirement for manufacturing, lower carbon emissions, and less wastage and waste produced during production. The thermoform packaging market is driven by the increased demand for packaging in the food and beverages industry and pharmaceutical industries, the growing e-commerce industry, the durability of thermoform packaging, and the high customizability of the thermoform packaging products. The market is restrained by the low recyclability of thermoforming packaging and the growing government regulations to promote biodegradable and green packaging solutions. Although the thermoform plastics by themselves are recyclable, the use of stickers and the resin used to produce the final packaging are nonbiodegradable and reduces the recyclability of thermoform packaging.
Based on type, the thermoform packaging market can be segmented into blister packaging, clamshell packaging, skin packaging, and other segments. The blister packaging segment will be the major segment from 2021 to 2026. The blister packaging has the products placed within cavities or pockets of space and then sealed with plastics or paperboard or aluminum. Blister packaging has become increasingly popular in the pharmaceutical, electronics, and personal hygiene industries.
Based on the different heat seal coating techniques employed, the thermoform packaging market can be segmented into water-based heat seal coating, solvent-based heat seal coating, and hot-melt-based heat seal coating segments. The solvent-based heat seal coating segment is analyzed that it will dominate the market. The solvent-based heat seal coating provides a great degree of adhesion and bind strength at various temperatures. The solvent-based heat seal coating thermoform packaging is water and grease resistant making them suitable for applications in the food and beverages and pharmaceutical industries.
Based on material, the thermoform packaging can be segmented into plastics, aluminium, and paper and paperboard. The plastics segment will yield the highest revenue in the market. Plastics like polyethylene terephthalate (PET), polyvinyl chloride (PVC), and polypropylene (PP). among others are becoming increasingly popular in the packaging industry. These plastics are durable and lightweight while also providing excellent protection to the products from being damaged. They have become increasingly popular in the food and beverages industry which is expected to drive the demand for this segment.
Based on end-use industries, the thermoform packaging market can be segmented into food & beverage, pharmaceuticals, electronics, home & personal care, and other segments. The food & beverages segment will yield the highest revenue and also will be the dominant segment in terms of volume share. The rising demand for pre-packaged food itemswillboost the demand for thermoform packaging in this industry. The growing e-commerce industry and the growing number of food delivery services are also expected to increase the demand for thermoform packaging in the market. The pharmaceutical industry will grow faster than other segments mentioned in this study. The pharmaceutical industry has been flourishing since more than a decade as the number of chronic diseases is on the rise. Blister packaging is becoming increasingly popular for pharmaceutical companies as they allow them to package products on a per-dose basis which increases the convenience for consumers.
The North American region will yield the highest revenue in the market. The large presence of food and beverage industries in the region and a large number of fast-food retail stores have contributed to the demand for thermoforming packaging in the region. The region has a large number of thermoform packaging vendors that are constantly coming up with innovations to maintain their competitiveness in the market. The APAC region will register the fastest growthas compared to Europe, North America, MEA, and CSA. The APAC region’s market is driven by the increasing demand for pre-packaged food in the region, growing e-commerce activity, growing pharmaceutical industry, and rapid industrialization and globalization have increased the demand for electronics in the region.
Display Pack Inc. (U.S.), Constantia Flexibles GmbH (Austria), Bemis Company, Inc. (U.S.), E.I. du Pont de Nemours and Company (U.S.), WestRock Company (U.S.), DS Smith Plc (U.K.), Sonoco Products Company (U.S.), Amcor Limited (Australia), Tekni-plex Inc. (U.S.), G. Mondini S.p.A (Italy), and Anchor Packaging (U.S.), among others,are the majorvendors competing in the thermoform packaging market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Thermoform Packaging Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Thermoform Packaging Market
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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