Thermoform Packaging Market to show USD49.9 Billion by 2022
Thermoform Packaging Market Outlook 2019-2026:
Global Thermoform
Packaging Market major key players are Anchor Packaging, Bemis Company, Inc., Sonoco Products Company,
Amcor Limited, Placon Corporation, Display Pack Inc., Pactiv LLC, E.I. Du Pont
Nemours and Company, Westrock Company, and DS Smith PLC.
Thermoform Packaging Industry was valued at $34,044 million in 2015, and is expected to reach
$49,804 million by 2022, supported by a CAGR of 5.5% during the forecast period
2016 - 2022. Based on end-user industry, food & beverage segment occupied
major share of the total market in 2015.
Rise
in application in food & beverage packaging industry drive the growth of
the global thermoform packaging market. Thermoform packages are light,
odor-free, flexible, and moisture-free, and are thus preferred over wood and
glass. Owing to these superior properties, the demand for thermoform packaging
is expected to grow in the near future. Growth in consumer preference towards
packaged and fresh food is also expected to augment growth of the global
thermoform packaging market. Besides, macro-economic factors such as changes in
lifestyle and improvement in standard of living are also expected to boost
demand for thermoform packaging during the forecast period. Furthermore,
emerging trends such as advancements in thermoform manufacturing technology,
shift toward lightweight packaging, and rise in use of polylactic acid (PLA)
films in thermoforming are expected to offer lucrative opportunities for the
global thermoform packaging market during the forecast period.
The
plastics segment accounted for the highest share, both in terms of value and
volume, owing to the increase in usage in food & beverage, personal care
& cosmetics, and pharmaceuticals industry. Among plastics, polyethylene
terephthalate (PET) dominated the global thermoform packaging market throughout
the forecast period.
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Thermoform Packaging Market
Key findings:
- North America
dominated the global thermoform packaging market in 2015, accounting for
over one-third of the share, in terms of revenue.
- In 2015,
thermoform packaging used in food & beverage industry accounted for
two-fifths share of the global market.
- On the basis of
material type, the plastics segment accounted for more than 80% share in
2015, and is anticipated to maintain its lead during the forecast period.
- Blister packaging
accounted for majority of the share in 2015 and is anticipated to showcase
fastest growth during the forecast period.
- Germany generated
more than one-fifth of the total revenue in the Europe thermoform
packaging market in 2015, and is expected to show highest growth rate.
- Asia-Pacific
thermoform packaging market is expected to grow at the fastest rate
throughout the forecast period.
- Based on heat
seal coating, solvent-based coating is the leading segment, accounting for
more than half of the share of global thermoform packaging market in 2015.
In 2015, North America dominated the global
thermoform packaging market with maximum share, in terms of both revenue and
volume. This was attributed to the high percentage of manufacturers as well as
consumers of thermoformed packages. Apart from that, Asia-Pacific is expected
to grow with the fastest rate, registering value CAGR of 6.1% throughout the
forecast period, owing to extensive demand in food & beverage and
pharmaceuticals industries in the developing countries such as India and China.
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