December 5, 2023

Thermoform Packaging Market Analysis: Transparency and Lightweight Driving Growth 2030

Thermoform packaging, a process that transforms plastic sheets into 3-dimensional shapes using heat, vacuum, and pressure, is gaining significant traction in the global packaging industry. This innovative packaging solution offers exceptional transparency, sealability, shatter-proof characteristics, and is remarkably lightweight, making it an ideal choice for various products, including fresh fruits, salads, takeout foods, and more. Moreover, its high oxygen barrier properties extend the shelf life of food, ensuring product freshness, color, and flavor retention. These attributes are expected to drive the growth of the thermoform packaging market in the coming years, with a projected growth rate of over 6% by 2025.

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Distinctive Features of Thermoforming:

  1. Efficiency: Thermoforming allows for the creation of multiple finished parts from a single piece of material, making it a cost-effective choice.
  2. Early Design Insights: It helps in the early detection of potential design and fit issues, saving both time and money during the production process.
  3. Versatility: Thermoforming is highly versatile, making it suitable for a wide range of applications.

Surging Demand for Packaged Food Products: Thermoformed packaging finds its most common application in the food industry, with uses ranging from meat trays and bakery packaging to snack tubs and microwave containers. The growing trend of on-the-go food consumption, contactless production, evolving e-commerce delivery methods, and a preference for sophisticated packaging is expected to drive substantial growth in this sector. The convenience, lightweight, and aesthetic appeal of thermoform packaging products have made them a favorite among packaged food producers, while their ability to extend shelf life further enhances their value.

Middle-Class Income Growth and Convenience Preferences Fuel Demand: The rise in middle-class incomes and a growing preference for convenience have led to increased demand for thermoform packaging in the food and beverage and pharmaceutical sectors. Thermoform packaging offers ease of use, extended shelf life, and adaptability, making it the material of choice for food and beverage products. In the pharmaceutical sector, the transparency and reliability of thermoformed blister products are gaining popularity. These factors are expected to drive the demand for thermoform packaging in the near future.

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PET Dominates Material Choice: Among material types, PET (Polyethylene Terephthalate) holds the largest share of the global market due to its competitive cost, low greenhouse gas emissions, transparency, and recyclability. PET’s ability to withstand mechanical loads, external abrasion, and changing environmental conditions makes it an ideal choice for thermoform packaging. Other materials like PVC (Polyvinyl Chloride) are also gaining traction due to their excellent oxygen barrier characteristics and economic advantages.

Clamshell Packaging and Blisters on the Rise: Clamshell packaging is poised to experience robust growth, driven by its high aesthetic appeal, ease of use, and versatility in the food and beverage industry. Blisters, on the other hand, find extensive use in pharmaceutical, personal care, and electronics applications due to their high integrity and extended shelf life benefits. Thermoform packaging trays, lids, and covers are also widely used across various industries.

North America Leads, Asia Pacific Growing: North America is expected to dominate the global thermoform packaging market, thanks to the presence of key players and extensive research and development activities. However, the Asia Pacific region is witnessing significant growth due to increased urbanization, rising middle-class populations, and the growing demand for packaged food products, particularly in countries like India, China, and Japan.

Strategic Alliances Drive Competitive Advantage: Key players in the thermoform packaging market, including Amcor PLC, Sonoco Products Company, and Pactiv LLC, are focusing on new product launches and mergers and acquisitions to maintain their competitive edge. For example, Sonoco Products Company recently acquired Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, forming SONOCO TEQ, a global producer of thermoformed packaging products for healthcare, medical, and consumer sectors.

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Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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This press release first seen on Brilad