Albany, New York, February 3, 2017: Driven by the growing emphasis on quality of packaging, the global market of thermoform packaging has been acquiring a noteworthy impetus from several years. In a recent report by Transparency Market Research, analysts have estimated that the global market is expected to grow progressively at a CAGR of 5.9% during the forecast period of 2016 to 2024. This study by TMR has been added to the wide offerings of Market Research Hub (MRH) and is headlined as “Thermoform Packaging Market- Global Industry Analysis and Forecast 2016-24”.
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Geographically, the report analyzes the market on the basis of several key regions such as North America, Asia-Pacific, Latin America, Europe and Middle East & Africa. In the first section, the report presents a snapshot of the market along with its scope and regional demand. Regional demand patterns have been considered while estimating the market for various end users of thermoform packaging in the above-mentioned areas. The report also contains the study of prospects available in the market for thermoform packaging on the global and regional level.
In today’s environment, a product’s packaging is almost as important as the product itself. Thermoform packaging provides visually appealing packaging for food and it is an efficient way to produce product packaging that maintains freshness and provides protection during shipping and transport. Some of the major materials such as plastic, paper and aluminum are used for thermoform packaging. Analysts predict that flourishing demand for seafood, poultry and meat is expected to enhance the sales of thermoform packaging as growing number of consumers are opting for packaged food items that have a longer shelf life.
According to the findings, the global food industry is likely to be worth US$3 trillion by 2020 and presents countless growth opportunities to the global thermoform packaging market. Moreover, the report segments the market on the basis of applications, packaging type and materials. By packaging type it covers:
- Skin Packaging
- Blister Packaging
- Clamshell Packaging
- Others (such as tubs, cups)
Among these, blister packaging segment is expected to gain a significant momentum due to its growing acceptance in sectors such as pharmaceuticals. In terms of geography, at present, North America holds overriding shares in the global market. The presence of big retail brands is the key factor contributing towards the growth in this region.
On the basis of materials, the market has been categorized into PVC, PE, PET, PS, PP and others. Moving further in the report, major players in the global thermoform packaging market are also highlighted. They are as follows:
- Amcor limited
- Bemis Company, Inc.
- Anchor Packaging, Inc.
- D&W FINE PACK.
- Placon Corporation
- Display Pack Inc.
- Sonoco Products Company
- HUHTAMAKI GROUP
- Tray-Pak Corporation
- PACTIV LLC
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