by The global thermoform packaging market size reached USD 44.55 billion in 2022 and is projected to hit around USD 72.91 billion by 2032, expanding at a CAGR of 5.1% from 2024 to 2033.
The thermoform packaging market has experienced notable growth driven by various factors. Thermoform packaging involves the process of heating a plastic sheet until it becomes pliable, then shaping it into a specific form or mold to create packaging containers, trays, or blister packs. With the increasing demand for convenient and cost-effective packaging solutions across industries such as food and beverage, pharmaceuticals, electronics, and cosmetics, thermoform packaging has become widely adopted. These packaging solutions offer benefits such as lightweight, durability, clarity, and versatility, making them suitable for a wide range of applications.
Moreover, advancements in materials science and thermoforming technologies have led to the development of innovative packaging designs, barrier properties, and sustainability features, addressing the evolving needs of consumers and businesses alike.Additionally, the rise of e-commerce and retail trends has further fueled the demand for thermoform packaging solutions as companies seek to optimize product protection, shelf visibility, and branding opportunities. Furthermore, the COVID-19 pandemic has underscored the importance of hygienic and tamper-evident packaging solutions, driving increased adoption of thermoform packaging in sectors such as healthcare and pharmaceuticals. As industries continue to prioritize efficiency, sustainability, and consumer safety, the thermoform packaging market is expected to witness sustained growth, offering opportunities for innovation and advancement in packaging technologies.
Key Takeaways
- In 2022, the polyethylene terephthalate (PET) material sector held a 45% market share.
- In 2022, the containers product category achieved a revenue share of 27%.
- From 2023 to 2032, the clamshell product segment is expected to increase at a compound annual growth rate (CAGR) of 5.8%.
- In 2022, the food and beverage segment accounted for 52% of the market share by end user.
- From 2023 to 2032, the pharmaceutical end-user market is projected to increase at a compound annual growth rate (CAGR) of 6.1%.
Get a Sample: https://www.precedenceresearch.com/sample/2146
Report Scope of the Thermoform Packaging Market
| Report Coverage | Details |
| Market Size in 2023 | USD 46.6 Billion |
| Market Size by 2032 | USD 72.91 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.1% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Material, Product, Heat Seal Coating, End User and Geography |
Read More: End-of-Line Packaging Market Size to Worth USD 8.1 Bn by 2030
Thermoform Packaging Market Dynamics
Driver:
One of the primary drivers for the thermoform packaging market is its versatility and adaptability across various industries. Thermoforming allows for the production of customized packaging solutions tailored to specific product requirements, making it highly attractive for manufacturers seeking efficient and cost-effective packaging solutions. Additionally, thermoformed packaging offers excellent protection and product visibility, making it ideal for showcasing consumer goods on retail shelves. The increasing demand for lightweight and durable packaging, particularly in the food, pharmaceutical, and consumer goods sectors, further drives the growth of the thermoform packaging market.
Restraint:
A significant restraint for the thermoform packaging market is the competition from alternative packaging technologies and materials. With the growing emphasis on sustainability and environmental concerns, there is increasing pressure on manufacturers to adopt eco-friendly packaging solutions. Thermoformed plastics, particularly those derived from non-renewable sources such as polystyrene and polyethylene, face criticism for their impact on the environment. As a result, there is a growing demand for bio-based, compostable, and recyclable packaging materials, posing a challenge to traditional thermoform packaging manufacturers who may need to invest in sustainable alternatives to stay competitive in the market.
Opportunity:
Despite the challenges, there are several opportunities for growth in the thermoform packaging market. The increasing demand for convenience and on-the-go consumption presents opportunities for the development of single-serve and portion-controlled packaging solutions. Thermoformed packaging’s ability to provide tamper-evident and hermetic seals makes it well-suited for packaging perishable food items, pharmaceuticals, and personal care products, thereby driving demand in these sectors. Furthermore, advancements in technology, such as inline thermoforming and automation, offer opportunities for manufacturers to improve production efficiency, reduce costs, and meet the evolving needs of customers.
Additionally, the growing e-commerce market creates opportunities for thermoform packaging manufacturers to develop innovative packaging solutions that ensure product integrity and enhance the unboxing experience for online shoppers.
Recent Developments
- The Mondi Group developed a completely recyclable polypropylene film in June 2019 that can be used to thermoform flexible films for modified atmosphere packaging (MAP) and vacuum packaging. This can extend the shelf life of products like cheese and meat. Compared to top and bottom web, standard packaging, the breakthrough reduces the carbon footprint by 23%. The internal barrier layer makes up a relatively small portion of the whole structure—5%—and is fully recyclable in the current waste streams.
Thermoform Packaging Market Players
- Amcor
- Sonoco Products Company
- Placon Corp.
- Display Pack, Inc.
- Pactiv LLC
- Dart Container Corp.
- Constantia
- Tray-Pak Corp.
- D&W Fine Pack
- Lacerta Group, Inc.
- RPC Group Plc
- Silgan Holdings, Inc.
- Sinclair & Rush, Inc.
- Rompa Group
Segments Covered in the Report
By Material
- PET
- PVC
- PS
- PP
- PE
- Others
By Product
- Blister
- Clamshell
- Skin Packaging
- Trays & Lids
- Containers
- Others
By Heat Seal Coating
- Hot Melt-Based
- Solvent-Based
- Water-Based
By End User
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Electronics
- Homecare
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2146
Unlocking Market Insights through Data Excellence
The “Precedence Statistics” flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today’s dynamic and data-driven world.
To Access our Premium Real-Time Data Intelligence Tool, Visit:
www.precedencestatistics.com
