WiseGuyReports.com adds “Global Thermoform Packaging Market Research Report 2020 Analysis and Forecast 2027” reports to its database.
Pune, Maharashtra -- (SBWIRE) -- 07/08/2020 -- Thermoform Packaging Market:
Global Thermoform Packaging Market is valued approximately USD 42.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.30% over the forecast period 2020-2027. Thermoform packaging are plastic packaging those are obtained by thermoforming process. The thermoforming process includes molding of plastics into desired shape by heating it and applying pressure on it. It has a wide range of application in various industries such as food & beverage, electronics, personal care, pharmaceuticals and automotive etc. due to inherent properties such as lightweight, protective attributes, reusability, and cost-effectiveness. The thermoform packaging is gaining wide range of application in food & beverage industries due to its flexibility in design along with low production cost compared to injection and rotational molding. Also, it protects food from contamination. Therefore, rapid growth in food and beverage industry across the globe is driving the growth of market over the forecast years. For instance: as per the India Brand Equity Foundation (IBEF), the food processing industry in India was USD 258 billion in 2015 and increased up to USD 400 billion in 2019. Similarly, as per Statistics released by Alberta Highlights, the food and beverage manufacturing sale in Canada reached to USD 14.4 billion in 2017, increased with 8.4% from 2016. In addition, growing demand of thermoform packaging from pharmaceutical industries is also the factor propelling the growth of market over the forecast years. However, limitation on packaging of heavy items and stringent regulations regarding usage of plastic packaging are the factors hampering the growth of market over the forecast years. Also, the global outbreak of COVID-19 adversely affected the sale and supply chain of various industries. As various economies announced lockdown for preventing spread of virus among people and avoid social gathering. Due to such factors demand of thermoforms packaging in various end-use industries such as electronics and automotive is expected to be hampered. Whereas, demand of thermoform packaging in essential end-use industries such as food & beverage and healthcare even in lockdown timeframe is expected to create a lucrative opportunity for the market growth.
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The regional analysis of global Thermoform Packaging market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in healthcare industries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing growth in food & beverage industries would create lucrative growth prospects for the Thermoform Packaging market across Asia-Pacific region.
Major market player included in this report are:
Anchor Packaging Inc.
Display Pack Inc.
D&W Fine Pack LLC
Reynolds Group Holdings Ltd.
Sinclair & Rush Inc.
Sonoco Products Company
Tamarack Products Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Paper & Paperboard
By Heat sealing coating:
By End-use industries:
Food & Beverage
Personal care & cosmetics
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Thermoform Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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