Thermoform Packaging Market – Overview
The Thermoform Packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by the growing trend for online shopping, rapid growth in electronic sector and easy availability of biodegradable bubble wrap. However, availability of other alternative packaging hinder the growth of the market.
The continuous growth of the food & beverage and electronics market is fuelling the overall growth of the thermoform packaging market. Furthermore the growth of e-commerce has also induced the market growth. The benefits of online shopping such as faster delivery, easier return policies, and free shipping, have made many customers switch from the traditional methods of shopping. Amazon (U.S.) has been leading the market with a total revenue of USD 107,006 million, as compared to eBay (U.S.) with total revenue of USD 8,592 million in 2015.
Rapid growth in the electronic sector is ultimately driving the demand of the thermoform packaging. Today consumer electronics is the top selling category due to increase in the number of online electronics models. According to REED Electronic Research, a leading market information provider on the global electronics industry, in 2015, China has accounted for 38% of electronics equipment production in the global market.
Most of the consumers as well as manufacturers today are concerned about the impact of packaging on the environment due to the rising awareness of environment protection. This is expected to hinder the market growth
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Global Thermoform Packaging Market – Segments
Global Thermoform Packaging Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type : Comprises – Blister Packaging, Skin Packaging, Clamshell Packaging, Others
Segmentation By Application : Comprises – Food & Beverage, Pharmaceuticals, Electronics, Personal Care and others
Segmentation By Material : Comprises – Plastic, Paper Aluminum and others
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Thermoform Packaging Market – Regional Analysis
Asia-Pacific is expected to show a very high rate of growth in demand for thermoform packaging over the coming years, owing to rising disposable incomes and the booming ecommerce industry. The thermoform packaging market in developing countries such as China and India are estimated to grow at a high rate in the forecast period. China is estimated to grow faster than any other country because of its strong economic growth along with increase in online shopping and rapid urbanization.
China accounts for the largest market in Asia Pacific. In China, the electronics and appliance retailers dominate the market. Domestic manufacturers are accounting for the increase in share of consumer electronics due to growing brand reputation and improved technology. Factors such as rising increase in disposable income, urbanization are some of the major factors driving the demand for thermoform packaging solutions.
In Japan, electronics and consumer goods is expected to dominate the market during the forecast period. E-commerce industry offers an attractive and convenient shopping option to consumers, which provides an innovative, sustainable and seamless experience over all channels. This induces the growth of thermoform packaging.
The prominent players in the thermoform packaging are Bemis Company Inc. (U.S.), Amcor Limited (Australia), Sealed Air Corporation (U.S.), Sonoco Products Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), WestRock Company (U.S.), Tray Pack Corporation (U.S.), DS Smith Plc (U.K), Display Pack Inc. (U.S.), Lacerta Group (U.S.), RPC Group Plc (U.K), Silgan Holdings Inc. (U.S.), Anchor Packaging (U.S.), Tekni-plex Inc. (U.S.), and Constantia Flexibles Group GmbH (Austria).
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