According to a newly published report by Research Nester on “Global Thermoform Packaging Market Outlook: Industry Insights & Opportunity Assessment 2016–2024” delivers detailed overview of the global thermoform packaging market in terms of market segmentation by material, by heat steal coating, by packaging type, process type, by end user and by region.
Application of thermoform is rising in the food & beverages industry owing to the versatility of thermoform packaging coupled with retention of flavor and aroma of food & beverages, rising demand for light weight packaging and growing consumer preferences with regard to fresh and packaged food is estimated to boost the growth of the global thermoform packaging market with a CAGR of 6% over the period 2019-2027.
The thermoform packaging market is segmented by material, heat steal coating, packaging type, process type and end users. By end users, the food & beverages segment is anticipated to have significant growth on account of the versatility of thermoform packaging coupled with retention of flavor and aroma of food & beverages. The pharmaceuticals segment is also expected to grow at a high pace on the back of increasing need for cleanliness as required by pharmaceutical products. Thermoform packaging offers external protection to medical products while holding the internal ingredients safely.
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The thermoform packaging market is segmented by material, heat steal coating, packaging type, process type and end user. On the basis of material, the market is segmented into plastics, paper & paperboard, aluminium and others. On the basis of heat steel coating, the market is segmented into water based, hot melt based and solvent based. On the basis of packaging type, the market is segmented into blister card packaging, clamshell packaging, skin packaging and others.
On the basis of process type, the market is segmented into vacuum, pressure and mechanical. Further, on the basis of end user, the market is segmented into pharmaceuticals, food & beverages, electronics, consumer goods and others. The plastics segmented is further sub segmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polystyrene (PS), polypropylene (PP), acrylonitrile butadiene styrene (ABS) and others. Blister card packaging segment is further sub segmented into full face steel, trapped blister, face seal and others.
Changing consumer preferences-With changing lifestyle and improvement in standard of living, consumers are switching their preferences to packaged and fresh food. Moreover, advancements in thermoform manufacturing technology, shift toward lightweight packaging and rise in use of polylactic acid (PLA) films are expected to boost the growth of the thermoform packaging market.
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Preferred over wood & glass- Thermoform packages are preferred over wood and glass packaging as they are light, flexible, odor and moisture free which helps to keep the product in its original form for a long time.This would boost the market growth in the next few years.
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