Thermoform Packaging Market To Report Impressive Growth, Revenue To Surge To US$ 51,510.00 Million By 2024

With the presence of a large pool of participants, the global thermoform packaging market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR).  Bemis Company Incorporation, Amcor Limited, WestRock Company, DS Smith Plc., E.I. du Pont de Nemours and Company, and Constantia Flexibles GmbH are some of the key vendors of thermoform packaging across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the thermoform packaging market study.

Citing an instance, in October 2018, Rohrer Corporation- a retail consumer packaging provider- acquired Transparent Container – a U.S. based designer & manufacturer of retail packaging solutions. Analysts project that the acquisition will help Rohrer to expand its thermoforming capacity and product portfolio as well as help in conducting printed & thermoformed visual packaging items program under the auspices of the firm’s ezCombo™ packaging program.

This review is based on a report by Zion Market Research, titled “Thermoform Packaging Market by Material (Plastics (Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polyethylene (PE), Polystyrene (PS), Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), and Others), Paper & Paperboard, Aluminum, and Others); by Heat Seal Coating (Water Based, Hot Melt Based, and Solvent Based); by Packaging Type (Blister Card Packaging (Full Face Seal, Trapped Blister, Face Seal, and Others), Clamshell Packaging, Skin Packaging, and Others); by End-user (Pharmaceuticals, Food and Beverages, Electronics, Consumer Goods, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024.”- https://www.zionmarketresearch.com/report/thermoform-packaging-market

As estimated in this report, the global thermoform packaging market stood at US$ 35,536.12 million in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this thermoform packaging market is expected to reach US$ 51,510.00 million by the end of the forecast period. The main material types available in this thermoform packaging market are Plastics, Paper & Paperboard, and Aluminum. Among them, the demand for plastics is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Massive Applications Across Various Sectors To Amplify Market Revenue

“Myriad applications of thermoform packaging in food & beverages, healthcare, consumer goods, pharmaceuticals, and electronics sectors is likely to lucratively influence the growth of thermoform packaging market over the years to come, “ says the author of this study. Apart from this, rapid urbanization witnessed across the emerging economies along with growing consumer preference for fresh & packaged food products are the key growth drivers of the thermoform packaging market. In addition, odor-free, easy disposability, moisture-free, and cost-effective features of thermoform packages are likely to create massive demand for thermoform packaging market in the forthcoming years.

Thermoform packaging does not effectively support heavy packaging and this can hinder the expansion of thermoform packaging market in the years ahead. In addition, oscillation in raw material prices, growing concerns pertaining to disposal or recycling of plastics may pose threat to the thermoform packaging business during the forecast timeline. Nevertheless, constant advancement in thermoformed technology, the massive popularity of lightweight packaging, and high funding of R&D activities is projected to favorably leverage the thermoform packaging market size in the ensuing years. This, in turn, will normalize the impact of hindrances on thermoform packaging market, reports the study.

Lucrative Food Packaging Demand To Help North America Maintain Dominance

Regionally, North America has been leading the worldwide thermoform packaging market and is anticipated to continue on the dominant position in the years to come, states the thermoform packaging market study. Growing acceptance of thermoform packaging, high per capita income, and escalating demand for food packaging are the major factors behind the dominance of North America thermoform packaging market.  Humungous presence of key manufacturers along with an increase in consumption of thermoform plastics in countries such as the U.S. in North America is another significant factor that is supporting the growth of this regional thermoform packaging market.

The global thermoform packaging market is segmented as follows:

By Material Type

• Plastics 
  • Polyvinyl Chloride (PVC)
  • Polyethylene Terephthalate (PET)
  • Polyethylene (PE)
  • Polystyrene (PS)
  • Polypropylene (PP)
  • Acrylonitrile Butadiene Styrene (ABS)
  • Others
• Paper & Paperboard 
• Aluminum
• Others

By Heat Seal Coating Segment

• Water Based 
• Hot Melt Based
• Solvent Based

By Packaging Type

• Blister Card Packaging
  • Full Face Seal, 
  • Trapped Blister, 
  • Face Seal, 
  • Others
• Clamshell Packaging
• Skin Packaging
• Others

By End-User

• Pharmaceuticals
• Food and Beverages
• Electronics
• Consumer Goods
• Others

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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