Thermoform Packaging Material Trends: Insights into Future Sales Projections
Thermoform packaging refers to a type of packaging produced by heating a plastic sheet until it becomes pliable and then molding it into a specific shape using a mold or form. Once the plastic has cooled and solidified, it retains the desired shape, creating a rigid and durable packaging solution. Thermoforming is a versatile process commonly used in various industries, including food and beverage, pharmaceuticals, healthcare, electronics, and consumer goods.
Anticipated market growth is poised to be driven by an upswing in the availability of convenience foods, with a particular focus on ready-to-eat meals and packaged meat and fish offerings. This momentum is further propelled by the global expansion of organized retail and e-commerce channels, creating a favorable landscape over the projected period. In the thermoforming process, manufacturers subject thermoplastic sheets to elevated temperatures, inducing softening, followed by molding using casts. The iterative application of heat, suction, and compression shapes these sheets into the final products.
The thermoform packaging industry size is projected to be valued at US$ 50,390 Million in 2023 and it is anticipated to surpass US$ 84,450 Million by 2033. The adoption of thermoform packaging is anticipated to rise at a CAGR of 5.3% during the forecast period.
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Recent Developments
- In October 2019, COEXPAN unveiled CorePET, a brand-new 100% rPET sheet developed exclusively for the thermoform packaging industry.
- The Mondi Group created a polypropylene film that is 100% recyclable for use in thermoforming flexible films for modified atmosphere packaging (MAP) and vacuum packaging to extend the shelf life of products like meat and cheese. The device offers a 23% reduction in carbon footprint compared to conventional packaging and is completely recyclable in existing waste streams. The internal barrier layer accounts for less than 5% of the whole structure.
- Pactiv LLC took the lead in the market in 2020 as a result of its wide range of products, particularly for the food and beverage industry, and strong North American presence.
Advantages
Thermoform packaging offers several advantages, including:
- Cost-effectiveness: Thermoforming is a relatively low-cost manufacturing process compared to other packaging methods, making it suitable for large-scale production.
- Design Flexibility: Thermoforming allows for the creation of custom shapes, sizes, and configurations to meet specific product and branding requirements.
- Product Protection: Thermoform packaging provides excellent protection against damage, contamination, and tampering, ensuring product integrity throughout the supply chain.
- Sustainability: Many thermoform materials are recyclable, and the lightweight nature of thermoform packaging can reduce transportation costs and carbon emissions.
- Visibility: Thermoform packaging offers excellent product visibility, allowing consumers to see the packaged product clearly and make informed purchasing decisions. Thermoform packaging is widely used across industries for its versatility, durability, and cost-effectiveness, making it a popular choice for packaging various consumer and industrial products.
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Segmentation
By Material:
- PET
- PVC
- PS
- PP
- PE
- Others
By Product:
- Blister
- Clamshell
- Skin Packaging
- Trays & Lids
- Containers
- Others
By Heat Seal Coating:
- Hot Melt-Based
- Solvent-Based
- Water-Based
By End User:
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Electronics
- Homecare
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Eastern Europe
- Western Europe
- Japan
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