Thermoform Packaging Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2

Thermoforming is the process of molding material (plastic, aluminum, wood, and rubber) into desired shape to create packaging containers. It is a cost effective process, which allows molding of large size containers from sheets. Moreover, thermoform packaging can be customized into various shapes and sizes. Printing can be done after molding to make products aesthetically appealing.

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Cost effectiveness and ability for mass manufacturing make it a popular choice among the industries such as food and pharmaceutical. However, environmental repercussions of using plastic packaging is major challenge for growth of the market. Moreover, thermoformed material cannot bear excess weight and cannot be used for the packaging of heavy materials.

Skin packaging segment is gaining significant traction due to its properties such as high durability, toughness, improved aesthetics, and lower material use over conventional blister packaging. Plastic is widely used for manufacturing of thermoform packaging due to its wide availability and cheap material cost. Clamshell packaging is used for consumer goods. They are usually transparent to ensure that the consumer can see the contents of the packaging. Whereas, blister cards are used in pharmaceutical industry and are manufactured by heat sealing a sheet foil. Food and beverage industry is the largest end user of this market, owing to its ability of customize according to the requirement. Its durability ensures product is not damaged and contamination is prevented.

• North America and Europe are the largest markets for thermoformed packaging due to high disposable incomes in the regions. Moreover, a preference for packaged food and disposable products are also driving growth of the market.
• Asia Pacific is the fastest growing market with the world’s largest population in India and China, which in turn is boosting demand for food, beverages, pharmaceuticals, and electronics. These countries are also growing as manufacturing hubs for pharmaceuticals and electronics due to low cost of labor and raw material. According to International Monetary Fund (IMF), the Asia Pacific region accounted for 50% of the world’s GDP and is projected to become a prime consumer hub over the forecast period.

New thermoforming technique called as ‘Computational Thermoforming’ has come up as an alternative to 3D printing. It was developed by Zurich-based Interactive Geometry Lab in 2016. This largely cuts down time required for manufacturing special purpose packaging. Adoption of this technology is expected to restrain growth of the market over the forecast period.

Key Players in the Thermoform Packaging Market

Key Players operating in thermoform packaging market include Amcor Limited, Bemis Company, Inc., WestRock Company, E.I. du Pont de Nemours and Company, DS Smith Plc., Constantia Flexibles GmbH, Sonoco Products Company, Anchor Packaging, Tekni-plex Inc., G. Mondini S.p.A, and Display Pack Inc.

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