Industry Outlook and Trend Analysis
The Thermoform Packaging Market was worth USD 31.45 billion in 2014 and is expected to reach approximately USD 51.90 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.72% during the forecast period. The market is developing as per the development patterns of the packaging and converting industries. Factors, for example, developing demand for fresh food and beverages; minimal packaging waste, rising demand for home and personal care goods, and pharmaceuticals enterprises; and development of the retail business have driven the worldwide thermoform packaging market.
Type Outlook and Trend Analysis
Based on type the market is segmented into blister packaging, clamshell packaging and skin packaging. On the basis of type, blister packaging represented the biggest market share, based on both volume and value in 2015.
Hot Seal Coating Outlook and Trend Analysis
On the basis of heat seal coating, the water-based heat seal coating is anticipated to grow at the highest rate over the forecast period. The water-based heat seal coating offers a sturdy bond between corrugated and polyethylene skin pack films, thereby decreasing numerous adhesion challenges of thermoform packaging and driving the thermoform packaging market.
Material Outlook and Trend Analysis
Based on material the market is segmented into aluminum, plastic, paper and paperboard out of which plastic accounted for the biggest market share, in terms of both volume and value in 2015.
End User Outlook and Trend Analysis
On the basis of end-use industry, the food & beverage segment accounted for the biggest market share, based on both volume and value. Rising discretionary incomes of people in developing countries and switching preferences of manufacturers for sustainable packaging are some of the factors that are driving the thermoform packaging market.
Regional Outlook and Trend Analysis
Europe represented the biggest share among all the regions in 2015. This is majorly due to developed nations in Germany and the U.K., combined with growing applications of thermoform packaging in the food & beverage and pharmaceutical industries.
The major players in the market are Anchor Packaging, G. Mondini S.p.A, WestRock, Tekni-Plex Inc, Display Pack, E. I. du Pont de Nemours and Company, Sonoco, Bemis Company, Constantia Flexibles, Amcor and DS Smith. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Thermoform Packaging Market is segmented as follows-
By Hot Seal Coating:
Solvent-based heat seal coating
Water-based heat seal coating
Hot-melt-based heat seal coating
Paper & paperboard
By End User:
Food & beverage
Home & personal care
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?