Press Release

A USD 52.1 Billion Global Thermoform Packaging Market to Surge at a CAGR of Around 5.7% During 2024-30

The Global Thermoform Packaging Market size was valued at about USD 52.1 billion in 2023 & is anticipated to grow at a CAGR of about 5.7% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The global demand for effective and flexible packaging solutions is expected to drive substantial growth in the thermoform packaging industry. According to a leading manufacturer of thermoform products, their top offering, EasyPak, has a cost advantage of between 10% and 15% when compared with injection molding-produced plastic wrapping. This competitive pricing, combined with its adaptability features that provide protection, makes it a favored choice among various industries globally. As such, this will foster exponential expansion opportunities within the market as more patrons invest in these offerings on an international level.

Moreover, individuals are increasingly transitioning towards sustainable and cost-effective packaging solutions for a wide range of items such as mobile phones, batteries, electronic accessories, and headphones. This consistent demand is resulting in the market players opting for thermoform packaging methods like clamshells, trays, or blisters to meet their needs. This strategic shift aligns with the sustainability objectives and caters to consumer demands for eco-friendly packaging.

Additionally, along with the flexibility and versatility offered by the thermoform packaging, it is also more cost-effective. As a result, the small-scale & medium-scale enterprise also uses these types of packaging solutions. Furthermore, the market players are increasingly utilizing state-of-the-art manufacturing methods alongside biodegradable plastics and recycled materials to make eco-friendly packaging options. This approach caters perfectly to shifting consumer preferences while providing businesses with an opportunity to stay ahead of their competitors amid dynamic market conditions.

A notable trend in the thermoform packaging market is its remarkable growth due to significant advancements within the electronics and electrical sectors. The analysis of the market indicates a thriving pharmaceutical industry, particularly in emerging nations. The mounting need for medicinal drugs is driving this growth, which, in turn, encourages the adoption of cost-effective and eco-friendly packaging options such as thermoformed products, further states the research report, “Global Thermoform Packaging Market Analysis, 2024.”

Segmentation Analysis

The Blister Packaging Segment Holds a Significant Market Share

Based on the type, the market is further bifurcated into blister packaging, clamshell packaging, skin packaging, and others. Blister packaging is exhibiting robust growth and capturing a significant market share within the industry. Several industry verticals are using these types of packaging to ensure protection against moisture. In addition, this packaging helps in maintaining the quality of the products during shipping or transit. Therefore, several organizations are increasingly using this packaging to improve durability & enhance product longevity. Furthermore, these packaging are transparent in nature, owing to which the consumers visually inspect the product before purchasing. This helps the organizations to build trust among the consumers and expand their user base. Therefore, the increasing shift of the different companies to have blister packaging is further elevating the market growth.

Asia Pacific Leads the Global Thermoform Packaging Market

In recent years, the thermoform packaging market in the Asia-Pacific region has emerged as a dominant force, and experts predict that this trend will continue through the forecast period. The factors contributing to this success are diverse but primarily stem from an expanding population with rising disposable incomes, driving demand for packaged goods across various sectors such as food, healthcare, and consumer products.

Furthermore, rapid urbanization and industrial development, specifically in China, India, and Southeast Asia, have stimulated manufacturing activities, thereby increasing pressure on effective packaging solutions. Additionally, the continual growth of e-commerce is also boosting expansion by ensuring efficient yet protective packing requirements are met at all times within a rapidly growing industry landscape.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Ds Smith, Amcor, Sonoco Products Company, Huhtamaki Oyj, Westrock Company, Berry Global Group, Inc., Sealed Air Corporation, Constantia Flexibles, Greiner Ag, Faerch Group, Anchor Packaging, Display Pack Inc., Tekniplex, Dart Container Corporation, G. Mondini Spa, and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?