Sales of Thermoformed Containers Market is expected to surpass US$ 23.9 Bn by 2027, likely to Grow Moderately at 4.7% CAGR during the assessment period.
Thermoformed containers industry are products made using a thermoforming process where the closed-cell foams or rigid plastics are heated to a pliable temperature and molded using pressure and vacuum forming techniques for the desired shape. The prime objective of this report is to offer insights and key market trends of the global thermoformed containers market that are gradually helping transform global businesses.
The market numbers have been assessed on the basis of consumption and weighted average pricing of thermoformed containers on the basis of product type. The global thermoformed containers market report begins with the executive summary for various categories and their share in the thermoformed containers market. It is followed by the dynamics of the thermoformed containers market and an overview of the global thermoformed containers market, which includes FMI analysis of market drivers, restraints, and trends that are affecting the growth of the thermoformed containers market.
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The global thermoformed containers market is segmented as per material type, product type, and end use. On the basis of material type, thermoformed containers are segmented as polyethylene, polypropylene, polyvinyl chloride, polystyrene, and other materials. On the basis of product type, the global thermoformed containers market is categorized as blisters, clamshells, cups & bowls, and trays & lids. By end use, the global thermoformed containers are categorized into food & beverages, pharmaceuticals, personal care & cosmetics, home care products, and electronics & electrical and others.
Competitive Landscape
Leading players in the global thermoformed containers are adopting strategies such as new product launch, capacity expansions, collaborations, mergers, and acquisitions with other companies to expand their production capacity and product portfolio. For instance:
- In September 2021, Pactiv Evergreen Inc., a leading food and beverage packaging manufacturer, announced acquiring a provider of plastic foodservice and custom thermoformed packaging, Fabri-Kal Corp. for US$380 Mn to expand its production capacity and increase customer base across the food and beverage sector.
Key Companies Profiled
- Sonoco Products Company
- DS Smith plc
- Bemis Company Inc.
- Berry Global Group
- Anchor Packaging Inc.
- Coveris Holdings S.A.
- Borealis AG
- Huhtamaki Oyj.
- Silgan Holdings Inc.
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Country-wise Analysis
Why is the U.S. Thermoformed Containers Market Witnessing High Demand?
“Rising Emphasis on Launching Consumer-convenient Solutions to Elevate Thermoformed Plastic Trays Sales”
As per Future Market Insights, the U.S. is projected to dominate the market in North America thermoformed containers market, which is expected to account for nearly 21.2% of the total market share in 2022.
Surging demand for durable packaging solutions and growing trend of pursuing artistic activities such as painting are compelling manufacturers to launch trendy and consumer-convenient solutions such as paint trays and others.
For instance, in 2020, LINDAR Corp., a leading plastic thermoforming manufacturer, launched a new range of thermoformed PAINTWELL products including paint trays, heavy gauge plastic parts, and paint trays liners. A slew of such product launches is estimated to bolster the sales of thermoformed plastic trays in the U.S. market.
Which is the Leading End use Segment in the Thermoformed Containers Market?
“Introduction of Food & Beverage Application-specific Packaging to Shoot-up the Thermoformed Food Containers Sales”
In terms of end use, the food & beverage segment is forecast to account for 42.4% of the total thermoformed containers demand by the end of 2022.
The introduction of easily recyclable, printable, and food & beverage application-specific containers is fueling sales of thermoformed food containers in the segment. Also, growing demand for packaged and on-the-go food products due to fast-paced lifestyle of consumers is driving the growth across the segment.
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Thermoformed Containers Market by Category
Material Type :
- Polypropylene
- Polyethylene
- Polyvinyl Chloride
- Polystyrene
- Others
Product Type :
- Blisters
- Clamshells
- Cups & Bowls
- Trays & Lids
End Use :
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Home Care Products
- Electronics & Electrical
- Others
Regions :
- North America
- Latin America
- Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa
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