Thermoforming, a production process that transforms a plastic sheet into a 3-dimensional shape using heat, vacuum, and pressure, is experiencing a surge in demand due to its remarkable features such as transparency, sealability, shatter-proof nature, and lightweight design. As a result, it has become an excellent choice for packaging products, ranging from fresh fruits and salads to takeout foods and various other items. The rise in demand for ready-to-eat products is expected to drive significant growth in the global thermoform packaging market, which is estimated to grow at a rate of more than 6% by 2025.
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Advantages of Thermoforming
Thermoforming offers several benefits that set it apart from other forms of molding. These advantages include:
- Multiple Finished Parts from a Single Material: Thermoforming allows the production of multiple finished parts from a single piece of plastic material, enhancing efficiency and reducing waste.
- Early Discovery of Design Flaws: Thermoforming allows for the early discovery of potential design and fit flaws, saving both time and money during the production process.
- Versatility with a Large Number of Parts: It is highly useful when working with a large number of parts, making it an ideal choice for mass production.
Growing Demand for Packed Food Products Drives Market Growth
Thermoformed packaging finds its most common application in the food industry. It caters to a wide range of food-related needs, including meat trays, microwave and deep freeze containers, ice cream and margarine tubs, delicatessen tubs, snack tubs, bakery and patisserie packaging, sandwich packs, and vending drink cups, among others. Additionally, it is utilized for non-food purposes, such as manufacturing collation trays, blister packaging, and point-of-sale display trays.
The rising trend of on-the-go food consumption, contactless production practices, changing e-commerce delivery methods, and a preference for sophisticated packaging are contributing to substantial growth in the thermoform packaging market. As online platforms gain increasing popularity, companies like Takeaway.com, Ele.me, Zomato Media Pvt. Ltd., and Doordash are expanding their take-out and delivery options, further fueling the demand for thermoformed products in the foodservice sector. The cost-effectiveness, lightweight design, and high aesthetic appeal of thermoform packaging make it a preferred choice for packaged food producers. Additionally, its ability to offer extended shelf life to food products enhances its appeal in demanding applications.
Rising Middle-Class Income and Convenience Preference Propel Market Growth
The rising middle-class income and a growing preference for convenience are key factors driving the demand for thermoform packaging in the food and beverage and pharmaceutical sectors. Thermoform packaging offers benefits such as ease of use, extended shelf life, and high adaptability to the food and beverage industry. In the pharmaceutical sector, the excellent versatility, reliability, and transparency of thermoformed blister products are gaining traction. These factors are expected to propel the demand for thermoform packaging in the near future.
PET Continues to Lead the Market
Among various material types, Polyethylene Terephthalate (PET) holds a major share in the global market. PET is favored over other materials due to its competitive cost, low greenhouse gas emissions, transparency, and excellent recyclability. It can withstand mechanical loads, external abrasion, and changing environmental conditions, making it an ideal choice for thermoform packaging. Poly-vinyl chloride (PVC) is expected to witness the fastest gains in the forecast period, thanks to its excellent oxygen barrier characteristics and economic advantages. Various other materials like HIPS (High-Impact Polystyrene), PC (Polycarbonate), PP (Polypropylene), RPET (Reprocessed Polyethylene Terephthalate), and TPO (Thermoplastic PolyOlefin) are also used for thermoform packaging, depending on specific requirements.
Clamshell Packaging and Blisters Witness Robust Growth
The clamshell product category is expected to witness substantial growth from 2021 to 2025. With its high aesthetic appeal, ease of use, and versatility, clamshells are gaining popularity in the food and beverage industry, especially for showcasing products. Blisters, on the other hand, find extensive use in the pharmaceutical, personal care, and electronics industries due to their ability to offer high integrity and extended shelf life to products.
North America Dominates, While Asia Pacific Shows High Growth Potential
In terms of regions, North America is leading the global thermoform packaging market, driven by the presence of key players such as Anchor Packaging Inc., Sonoco Products Company, and D&W Fine Pack, along with extensive research and development activities. Meanwhile, Asia Pacific is expected to witness high growth in the coming years, propelled by increased urbanization, rising middle-class population, and growing demand for packed food products in countries like India, China, and Japan.
Key Players Embrace Strategic Alliances
Key players in the thermoform packaging market, including Amcor PLC, Sonoco Products Company, Placon Corp., Neven-Lemmens Plastics NV, and Display Pack, Inc., are continuously innovating and expanding their product offerings. New product launches and mergers & acquisitions are common strategies adopted by these players. For instance, Sonoco Products Company recently completed the acquisition of Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, consolidating its position as a global producer of thermoformed packaging products for healthcare, medical, and consumer sectors.
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