The global Thermoform Packaging Market was valued at USD 32.26 Billion in 2015 and is projected to reach USD 44.55 Billion by 2021, at a CAGR of 5.61%.
Browse 192 market data tables with 62 figures spread through 236 pages and in-depth TOC on "Thermoform Packaging Market”
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Pharmaceuticals segment is estimated to be the fastest-growing segment in 2016
The pharmaceuticals segment is estimated to be the fastest-growing segment in 2016. The demand from the pharmaceuticals sector is expected to experience a higher growth rate than the food & beverage and electronics industries, mainly because of rising disposable incomes and aging population. Thermoform packaging provides cleanliness and compartmentalization required by medical products that can safely hold parts in place and provide external protection.
Europe projected to account for the largest share in the thermoform packaging market in 2021
Europe, with developed economies such as Germany and U.K., is expected to drive the thermoform packaging market. Germany is projected to account for the largest market share and dominate the European thermoform packaging market in 2021. The growing pharmaceuticals and food & beverage industries are likely to drive the demand for thermoform packaging in Germany. In addition to this, the country’s large consumer base, overall positive economic environment, and increase in manufacturing activities will drive demand in the packaging industry.
On the basis of material, plastic accounted for the largest market share, in terms of both volume and value in 2015. On the basis of end-use industry, the food & beverage segment accounted for the largest market share, in terms of both volume and value. Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for sustainable packaging are some of the factors that are driving the thermoform packaging market.
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The major players include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), E.I du Pont de Nemours and Company (U.S.), WestRock Company (U.S.), DS Smith Plc (U.K.), and Sonoco Products Company (U.S.). Companies have adopted strategies such as mergers & acquisitions to cope with the increasing demand in the emerging markets.
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The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global thermoform packaging market.
Thermoform packaging is a packaging process in which plastic sheets are heated to the desired temperature to form a specific shape in a mold and subsequently trimmed for packaging activities.The heat seal coating segment is further sub-segmented into the water-based coating, a hot melt based, and solvent based.
Thermoform packaging has been widely used as a part of protective packaging during material handling activities.Get More Information @ https://www.quincemarketinsights.com/industry-analysis/global-thermoform-packaging-market/2573The pharmaceuticals segment is estimated to be the fastest-growing segment in 2016.
These packaging by heat seal coatings can be segmented by solvent-based, water-based, hot-melt based.
The market for thermoform packaging is expected to show high growth owing to increasing demand from end-use industries.
Major end-use industries for thermoform packaging include food & agriculture, pharmaceuticals, electronics, home & personal care, and others.In the global thermoforming market, packaging industry is estimated to account for around 80% in terms of market value and is projected to show fast-paced growth owing to the high demand from evolving end-user industries such as food, pharmaceuticals, electrical & electronics.Thermoform packaging provides cleanliness and compartmentalization required by medical products that can safely hold parts in place and provide external protection.
The global thermoform packaging market size is expected to reach USD 55.13 billion by 2025, growing at a CAGR of 4.7% over the forecast period.
according to a new report by Radiant Insights, Inc. Factors including increasing demand for electronics, pharmaceuticals, and personal care & cosmetics products, on account of growing penetration of retail sector and rising disposable income, have been driving the demand for thermoform packaging over the past few years.
This trend has resulted in increased demand for pharmaceutical blisters, hence driving the market growth in the region.
Moreover, growth of the global pharmaceutical industry, on account of the rising prevalence of chronic diseases and lifestyle-driven health disorders, is expected to propel the demand further for thermoform packaging in the pharmaceutical end-user industry over the coming few years.
Pactiv LLC emerged as the market leader in the thermoform packaging market in 2018 on account of its wide scale offerings, especially, for food & beverage industry.
Business Environment Analysis: Thermoform Packaging Market3.6.1.
