Industrial thermoform packaging refers to a light weight, strong, and heavy gauge that stores products hundred times of its own weight. The materials are produced by thermoforming technique. There are three sorts of packaging material; mechanical, vacuum, and pressure. The key benefits are included light weight, savvy, solid, and recyclable, which make them environment-friendly, and provide stiff support, which is favored by several brand owners which in turn has fuelled up the product sales.
According to study, “Global Industrial Thermoform Packaging Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global industrial thermoform packaging market are Anchor Packaging, Sonoco Products Company, Bemis Company, Inc., E.I. Du Pont Nemours and Company, Amcor Limited, Westrock Company, Placon Corporation, DS Smith PLC, Display Pack Inc., Pactiv LLC.
Based on type, industrial thermoform packaging market is segmented into blister skin, clamshell and windowed. Blister packing segment has the maximum market share owing to huge application in pharmaceutical industry as it prevents the product contagion and exposure from the external environment. Based on heat seal coating, market is segmented into heat seal coating, water based coating, hot-melt based coating and solvent based coating. Solvent-based coating segment dominates the market due to strong bond strength & resistance to water or grease and can be processed at various temperatures. Based on raw material, market is segmented into aluminum, paper, plastic, and paperboard. The plastic segment includes PP (Polypropylene), HDPE (High-Density Polyethylene), PC (Polycarbonate), ABS (Acrylonitrile Butadiene Styrene), PVC (Polyvinly Chloride), PS (Polystyrene), Acrylic PMMA (Polymethyl Methacrylate), TPO (Thermoplastic Polyolefin) and PET (Polyethylene Terephthalate). PET segment is expected to exhibit higher growth rate as a result of their wide application in bottles manufacturing during the forecast period. In addition, based on end-use, market is segmented into food & beverage, pharmaceuticals, electronics, home & personal care, and components packaging. Food & beverage sector holds major share in market on account of rise in use in dairy, packaging meat, confectionery and food services. Additionally, pharmaceutical segment is anticipated to witness considerable growth rate because of rise in requirement of prevention of medicines from contamination during the forecast period.
The industrial thermoform packaging market is driven by rise in demand for packaging material in the food & beverage industry, followed by improvement in living standards & change in lifestyle of people, growth in the urbanization & industrial development, change in preference toward the product, over wood or glass owing to odor free, moist free, light, & flexible properties and growth in population & increase in purchase power of the consumers. However, availability of another alternative packaging may impact the market. Moreover, rise in trend towards consumption of on-the-go, single-serve and ready to eat food products are a key opportunity for market.
Based on geography, the North-American region dominates the industrial thermoform packaging market owing to rise in consumption of packaged products and presence of big brands in the region. Whereas, the European and Asian-Pacific regions are estimated to exhibit higher CAGR due to large consumer base and rise in manufacturing industry over the forecast period. In upcoming years, it is likely that the market will be reached at rapid pace caused by rise in the adoption of novel technologies for instance modified atmosphere technologies by the food manufacturers to extend the shelf life of packaged food and increase in demand from food & beverage and pharmaceutical industry during the forecast period.
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Ankur Gupta, Head Marketing & Communications