Thermoform Packaging Market to Witness Steady Expansion During 2021-2025

Posted by aartimurkute on December 31st, 2021

The global thermoform packaging market has been gaining exceptional ground as the COVID-19 pandemic set new standards for hygiene. The packaging industry has been the leading end user of thermoform packaging as the method ensure the products remain intact, safe, and uncontaminated. As online deliveries become a norm through the lockdowns, thermoform packaging market remained bullish as it was the obvious solution for packaging for eateries. Preliminary findings indicate that ready-to-eat products demand is expected to surge at 6% by 2025. Analysts anticipate that will translate to great profits for the global thermoform packaging market due to its multitude of advantages such as increasing shelf life, retaining the freshness of the packaged food, flavour, colour, texture, and safety.

Browse Complete Report of Thermoform Packaging Market: https://www.fairfieldmarketresearch.com/report/global-thermoform-packaging-market

Polyethylene Terephthalate (PET) Remains Market’s Favourite

Fairfield Market Research states that the demand for PET will surpass all other types of materials. This unprecedented usage will be attributable to the material’s competitive cost, which makes it ideal for large scale packaging. PET also cause lower greenhouse gas emissions, is a more transparent material, and allows for easy recycling. All of these factors have collectively supported its higher sales historically and will continue to do so in the foreseeable future as well. Meanwhile, the upcoming report finds that poly-vinyl chloride (PVC) is also expected to gain steadily as it offers an optimal barrier against oxygen. Its higher durability and economic advantage are also expected to garner the material significant attention.

Usage of Thermoform Packaging to Remain High Across North America

North America thermoform packaging market is expected to lead the way as the region has a strong presence of players. An existing trend of consuming packaged food is expected to drive the regional market. Urbanization and the rise of the middle-class population are expected to boost the uptake of thermoform packaging that is primarily used in takeaways. Café culture, the younger population, and on-the-go breakfast options have also been identified as key drivers for the North America thermoform packaging market. 

Meanwhile, Asia Pacific is expected to be yet another fastest-growing regional market. As the trend of takeaway food picks up pace, the market is set to achieve newer heights. The demand for thermoform packaging will also be generated by the pharmaceutical industry that will increasingly require blister packaging for its products in the coming five years. 

Some of the leading players operating in the global thermoform packaging market are D&W Fine Pack, Anchor Packaging Inc., Sonoco Products Company, D&W Fine Pack, Amcor PLC, Placon Corp., Sonoco Products Company, Pactiv LLC, Neven-Lemmens Plastics NV, Display Pack, Inc., Constantia, Dart Container Corp., Tray-Pak Corp., Lacerta Group, Inc., RPC Group Plc, Silgan Holdings, Inc., Sinclair & Rush, Inc., Rompa Group. Mergers and acquisitions will remain an important strategy for companies in the market to stay ahead of the competition. 

For instance, in January 2020, Sonoco Products Company acquired Thermoform Engineered Quality, LLC and Plastique Holdings, LTD. Together known as SONOCO TEQ, the company will operate as thermoformed packaging products manufacturer for consumer care, healthcare, and medical sectors.

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