Category

Thermoforming Packaging Market Size, Share, Opportunities And Trends By Material (Plastic, Paper And Fibre, Aluminum), By Type (Clamshell Packaging, Blister Packaging), By End-User (Pharmaceuticals, Food And Beverage, Electronics, Cosmetics, Others) And By Geography - Forecasts From 2019 To 2024

Published: May 2020 | Report Code:  KSI061612608 | Pages:  99

The global thermoforming packaging market is expected to witness a CAGR of 4.43% to reach a market value of US$49.356 billion by 2024 from US$38.053 billion in 2018. Thermoforming is the process of heating a sheet of plastic until its softening point to form a specific shape in a mold. The key industry driving the demand for thermoforming packaging are the food and beverage, electronics, pharmaceuticals, and cosmetics among others. Growing food and beverage industry along with rising consumption of packed food is expected to drive the thermoforming packaging market. Furthermore, the increasing pharmaceutical industry coupled with the growing demand for blister packaging for carrying and storing of medicines through specific designs and specifications is anticipated to boost the demand for thermoforming packaging solutions. In addition, the increasing use of thermoforming packaging in electronics and other products owing tits light weight and attractive design feature is projected to drive the market. Furthermore, technological developments and increased R&D is expected to create opportunities for market growth during the forecast period.
 
DRIVERS
Growing food and beverage industry.
Growing demand in the pharmaceutical sector.
 
RESTRAINTS
Stringent government rules regarding plastic use
 
INDUSTRY UPDATES
In September 2018, Genpack LLC introduced a new thermoformed packaged product line Proview.
In April 2018, Fabri-Kal launched a thermoform packaging Tru-Ware square container.
In July 2017, Sonocproducts company acquired Clear Lam a manufacturer of flexible and forming plastic packaging films.
 
The major players profiled in the thermoforming packaging market include Amcor Limited, Bemis Company Inc., SonocProducts Company, Fabri-Kal, Genpack LLC, CJK Thermoforming Solutions LLC, Placon Corporation, VisiPak (Parent company-Sinclair and Rush Inc.), BlisterPak Inc., Berry Global Inc., AGOFORM GmbH, Dordan Manufacturing Company.
 
Segmentation
The thermoforming packaging market has been analyzed through the following segments:
 
By Material
Plastic
Paper and Fibre
Aluminum
 
By Type
Clamshell packaging
Blister packaging
 
By End-User
Pharmaceuticals
Food and Beverage
Electronics
Cosmetics
Others
 
By Geography
North America
USA
Canada
Mexico
 
South America
Brazil
Argentina
Others
 
Europe
Germany
France
United Kingdom
Spain
Others
 
Middle East and Africa
Saudi Arabia
Israel
Others
 
Asia Pacific
China
Japan
South Korea
India
Others
 

Frequently Asked Questions (FAQs)

Q1. What will be the thermoforming packaging market size by 2024?
A1. The global thermoforming packaging market is expected to reach a total market size of US$49.356 billion by 2024.
 
Q2. What is the size of global thermoforming packaging market?
A2. Thermoforming Packaging market was valued at US$38.053 billion in 2018. 
 
Q3. What are the growth prospects for thermoforming packaging market?
A3. The thermoforming packaging market is expected to witness a CAGR of 4.43% during the forecast period.
 
Q4. Who are the major players in the thermoforming packaging market?
A4. The major players profiled in the thermoforming packaging market include Amcor Limited, Bemis Company Inc., SonocProducts Company, Fabri-Kal, Genpack LLC, CJK Thermoforming Solutions LLC, among others.
 
Q5. What factors are anticipated to drive the thermoforming packaging market growth?
A5. The key industry driving the demand for thermoforming packaging are food and beverage, electronics, pharmaceuticals, and cosmetics among others.

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