A recent report published by Infinium Global Research on thermoformed packaging market provides an in-depth analysis of segments and sub-segments in the global as well as regional thermoformed packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional thermoformed packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global thermoformed packaging market. According to the report, the global thermoformed packaging market is projected to grow at a CAGR of 5.9% over the forecast period of 2019-2025.
Thermoformed plastics have widespread applications and even they are very cost-effective that is enhancing the growth of the market. PLA (Polylactic Acid) films used in thermoforming packaging are highly transparent and glossy that is the main characteristic most manufacturers search for thermoformed packaging. PLA is easily printable due to its intrinsic high value of surface tension. Thermoforming is the best-pursued method for producing thinner and lighter rigid plastic packaging products. Recently, numerous manufacturers and end-users have been adopting lightweight packaging products. The manufacturers are developing advanced machine technology to increase the cycle speed of machines and give better output rates to meet the high demand from end-users.
The evolving food industry and the requirement for sustainable packaging are major driving actors for the thermoformed packaging market. Furthermore, factors such as increasing demand for easy to use packaging and growing demand from the pharmaceutical industry are other driving factors for the market growth. The demand for thermoformed packaging is increasing due to its applications in various end-user industries, including the food and beverage, healthcare packaging, and electrical and electronics industries. The growing demand for seafood, meat, and poultry industry is fueling the growth of the market. However, thermoformed packaging is not supportive of the heavy products that are restraining the growth of the market. Moreover, increasing demand from the food and beverages sector is expected to provide growth opportunities to the market players.
Geographically, North America dominates the global thermoformed packaging market owing to the rapidly increasing demand for packaged food in countries such as the US. Asia-Pacific is the fastest-growing region due to constantly changing pharmaceutical sector. Growing urbanization and retail sector in countries such as China and India are also driving the Asia-Pacific thermoformed packaging market. The rapid growth of food delivery services in developing countries of Asia Pacific is expected to boost the demand for thermoform packaging in the forecasted period.
The report on global thermoformed packaging market covers segments such as product type, material type, and end-user industry. On the basis of product type, the sub-markets include clamshell packaging, blister packaging, skin packaging, and other product types. On the basis of material type, the sub-markets include plastics, aluminum, and paper & paperboard. On the basis of end-user industry, the sub-markets include food & beverage, electronics, personal care & cosmetics, pharmaceuticals, and other end-user industries.
The report provides profiles of the companies in the market such as Universal Plastics Corporation, UFP Technologies, Inc., Tray-Pak Corporation, Winpak Limited, Sonoco Products Company, Sabert Corp., Printpack, Inc., Plastique, Sealed Air Corporation, Placon Corporation, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of thermoformed packaging market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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