\r\nGlobal Thermoform Packaging Market
- POSTED ON Wednesday, April 7, 2021
Global Thermoform Packaging Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of around 6.1% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Thermoforming refers to the process of manufacturing plastic sheets by heat to form specific shapes in molds, thereby making them usable. The manufacturing process includes stretching of a film or sheet to achieve the desired shape. Some of the common thermoformed items comprise blisters, trays, clamshells, and lids.
Growth in consumer preference towards packaged and fresh food is expected to increase the growth of the thermoform packaging market globally. Also, macro-economic factors such as changes in lifestyle and improvement in the standard of living are likely to boost demand for thermoform packaging during the forecast period. Additionally, emerging trends such as advancements in thermoform manufacturing technology, shift toward lightweight packaging, and increase in use of polylactic acid (PLA) films in thermoforming are expected to proposal lucrative opportunities for the global thermoform packaging market during the forecast period.
However, stringent government regulations that need to be complied with and limitations in the packaging of heavy items are two restraints constraining market growth. The report covers all the trends and technologies playing a major role in the growth of the thermoform packaging market during the forecast period. It highlights the drivers, restraints, and opportunities expected to influence market growth during 2019-2026.
Food & beverage segment is expected to grow at the highest XX% CAGR during the forecast period. The springiness of thermoform packaging attached to the maintenance of flavor and aroma of food & beverages has increased demand for thermoform packaging and trend is expected to continue over the forecast period. Besides, growing consumer preference for fresh and packaged food has had a positive impact on the market.
Plastic segment is expected to account for the largest XX% market share by 2026. Thermoformed plastics in the pharmaceuticals industry are used to manufacture accessories, diagnostic systems, and medical plants. Thermoforming comprises of a manufacturing process to convert 2-D into a 3-D thermo-polymer to be used as pharmaceutical bottles, prefilled syringes, and medicine electronics along with capsules and tablets.
Region-wise, the Asia Pacific is expected to witness the fastest growth during the forecast period. E-commerce industry proposals 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 vital contributors to the Asia Pacific market. China accounts for the largest market share in the region mainly owing to fast growth in urbanization and industrial development.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Thermoform Packaging Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Thermoform Packaging Market.Scope of the Global Thermoform Packaging Market: Inquire before buying
Global Thermoform Packaging Market, By Type
• Blister packaging• Clamshell packaging• Skin packagingGlobal Thermoform Packaging Market, By Heat Seal Coating
• Water-based heat seal coating• Solvent-based heat seal coating• Hot-melt-based heat seal coatingGlobal Thermoform Packaging Market, By Material
• Plastic• Aluminum• Paper & paperboardGlobal Thermoform Packaging Market, By End-Use Industry
• Food & beverage• Pharmaceuticals• Electronics• Home & personal careGlobal Thermoform Packaging Market, By Region
• North America• Europe• Asia Pacific• Middle East & Africa• South AmericaKey players operating in the Global Thermoform Packaging Market
• WestRock Company• Amcor Limited• Tray Pack Corporation• Lacerta Group• DuPont• DS Smith• Sonoco Products• Anchor Packaging• Tekni-plex Inc• Display Pack• BASF SE• Archer Daniels Midland
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