Future Market Insights (FMI) delivers key insights on the global thermoformed containers market in its published report titled “Global Thermoformed Containers Market Forecast, Global Industry Analysis 2013-2018, and Opportunity Assessment 2019-2027.” In terms of revenue, the global thermoformed containers market is estimated to expand at a CAGR of 4.6% during the forecast period, owing to the numerous factors which FMI highlights in this research report.
Thermoforming is a process of heating a plastic sheet until it reaches a state where it can be shaped with the help of a mould. Once the plastic sheet is shaped and trimmed, it is then used to package food and beverages to keep them fresh. On an average, thermoformed containers cost up to 15% less than packaging made from the injection moulding process. Food packaging is gaining attention of the manufacturers as brand owners are looking for packaging solutions which capture attention on retail shelves. With each reprocessing cycle, quality and appearance of the plastic degrade, and then it can be used only for low-value applications. Thermoformed containers are re-usable. However, they are not easy to recycle as compared to flexible packaging formats.
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Trends in the Thermoformed Containers Market
A prominent trend is the inclination of manufacturers in providing different types of packaging formats. Other trends include varieties in clamshells and compartments in trays for specific applications. The thermoformed containers market is expected to witness growing demand due to an increment in the organized retail & need for protective packaging. Thermoformed containers hold a significant share in consumer packaging. In comparison with the unorganized retail sector, consumers are inclined to buy products from organized retail shops instead of normal grocery shops. The type of packaging plays a vital role in such shops. The thermoformed containers market is estimated to experience noticeable growth in the upcoming years as manufacturers are trying to provide transparent packaging solutions.
After the acquisition of three players in the produce industry- Highland Packaging Solutions, Peninsula Packaging, and Clear Lam, Sonoco Products Company is now offering tailored packaging solutions for bakery, produce, and deli markets. The company offers hinged & lidded containers, clamshells, trays, and bowls among others.
The introduction of bio-based polymers for manufacturing of thermoformed containers is an appropriate choice for the leading players to differentiate themselves in the market. More than 50% of consumers prefer eco-friendly products to non-biodegradable products.
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Thermoformed Containers Market: Categories
The thermoformed containers market is segmented as per material type, product type, and end use. By material type, thermoformed containers are segmented as polyethylene, polypropylene, polyvinyl chloride, polystyrene, and other materials. Polyethylene is widely used to manufacture thermoformed containers. Thermoformed containers are a durable and tamper-resistant packaging option which not only ensures protection during shipment, but also provides numerous options for sealing. By product type, the global thermoformed containers market is categorized as blisters, clamshells, cups & bowls, and trays & lids. By end use, the global thermoformed containers market is categorized into food & beverages, pharmaceuticals, personal care & cosmetics, home care products, and electronics & electrical and others. Manufacturers are increasingly introducing numerous flexible packaging formats in the thermoformed containers market for convenience and compact packaging. Thermoforming is not only limited to packaging, it is also used for other applications which include moulds for toys, electrical components, statues, and other plastic components. Computational thermoforming is the method used to fabricate 3D models, which target mass production of a particular shape. This method combines software and hardware solutions to customize unique objects by thermoforming.
Thermoformed Containers Market: Competitive Landscape
DS Smith plc, Borealis AG, Bemis Company Inc., Berry Global Group, Sonoco Products Company, Anchor Packaging Inc., Pöppelmann GmbH & Co. KG, Holdings S.A., Huhtamaki Oyj., Silgan Holdings Inc., Universal Plastics Corporation, Pactiv LLC, Sinclair & Rush, Inc., Universal Protective Packaging INC., Placon Corporation, Inc., Lindar Corporation, and Thrace Group.
Summary: Thermoformed containers market is estimated to grow moderately at 4.6% CAGR, through 2027. While Polyethylene will remain the most preferred material for manufacturing thermoformed containers, manufacturers are increasingly introducing numerous flexible packaging formats to keep up with the growing demand for convenience and compact packaging.
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