Automation of Frozen Foods to Drive Global Thermoform Packaging Market

Thermoforming is a packaging process which heats the plastic to form a mold according to the shape of the object. It is distinct from injection blow molding and extrusion blow molding. It can make blisters, trays, and clamshells that are used in retail, food, non-food, and medical sectors. The global thermoform packaging market report by Market Research Future (MRFR) provides an investigative analysis on the industry as well as projections for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic has also been included as an active catalyst to the market.

Market Scope

The global thermoform packaging market is estimated to grow at a CAGR of 5.72% during the estimated period. The cost-effective nature of this packaging method, low handling and logistic costs, and sustainable nature can drive the market demand. The use of plastic for the manufacture of packages and improvements in recycling technologies can bolster the market demand.

The decision of various food packaging manufacturers towards thermoforming for ensuring the quality of products is likely to drive overall market demand. For instance, North Coast Seafoods has utilized vacuum skin packs for frozen and processed fishes. Automation in packaging can influence the consumer-size foods to be packed using thermoforming and keep up with constant demand. Various materials employed in the packaging method can lend itself to eye-catching advertising in the form of lids and cards.

For More Information @ https://www.marketresearchfuture.com/reports/thermoform-packaging-market-1851

Segmentation

On the basis of the material, the market is segmented into aluminium, plastic, and paper & paperboard. The plastic accounted for the largest market share in 2016 as it provides high barriers, cost efficiency, temperature resistance, and durable packaging. Plastic in the form of PVC, PE, PP, and others are used largely in plastic thermoform packaging segment.

On the basis of the heat seal coating, the market is segmented into water-based, solvent-based, and hot melt-based. The solvent-based heat seal coating segment accounted for the largest market share of in 2016 due to its several advantages of strong bond strength that can be processed at different temperatures and resistance to water and grease. On the flip side, the water-based heat seal coating is estimated to grow at the highest CAGR during the forecast period due to providing a strong cohesive bond between corrugated and polyethylene skin pack films.

Based on the application, the market is segmented into food & beverage, personal care, pharmaceuticals, electronics, and others. The food & beverages segment accounted for the largest market share in 2016. Thermoformed products are largely used by the food industry for the packing of poultry, fruits, vegetables, meat, and fish in addition to prepared meals, and storage products. Pharmaceutical is another major application of the thermoform packaging.

Regional Analysis

European region accounted for the largest market share in 2016 due to the presence of a high industrial base such as automobiles, food and beverages, and pharmaceuticals. Germany, the U.K, and France are the major markets in the region. Consumption of processed foods is likely to drive the demand in the global thermoform packaging market.

North America is another major region the thermoform packaging market mainly due to the presence major retail chains such as Walmart Stores, and The Kroger Co. The U.S. accounts for a major share of the North American market. Recycling of plastic can work in favor of the market as the numbers of environmentally conscious consumers rises. Recently, Sonoco has decided to rely on recycled PET for manufacturing thermoformed packages for its clients.

Asia Pacific is projected to grow at the highest CAGR during the forecast period owing to booming e-commerce industry. High growth in population and increasing purchase power of consumers can boost the growth of the market. China, Thailand, and India are the vital contributors to the Asia Pacific market. China accounts for the largest market share in the region mainly due to fast growth in the urbanization and industrial development.

Competitive Outlook

DS Smith Plc, E.I. du Pont de Nemours and Company, Tekni-plex Inc., WestRock Company, RPC Group Plc, Display Pack Inc., Bemis Company Inc., Silgan Holdings Inc., Tray Pack Corporation, Amcor Limited, Constantia Flexibles Group GmbH, Anchor Packaging, Sonoco Products Company, Sealed Air Corporation, and Lacerta Group are key players in the global thermoform packaging market.

Company name: Market Research Future

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

Truck Rental Market Information by Truck Type (Heavy Commercial Vehicle and Light Commercial Vehicle), Lease Type (Finance Lease and Full-Service Lease), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World)- Forecast till 2024

Market Overview The truck rental market is anticipated to grow rapidly at a CAGR of 15.3%  during the forecast period. The global truck rental market is driven by continuously increasing demand for trucks from different industry verticals and rapid population growth. These factors have helped shape the truck rental market and are expected to boost the growth. Companies in the truck rental market could also face challenges such as hidden operational risks as well as lack of service truck rental providers. The details covered in the global market report cover all the aspects of the industry. truck rental market analysts have also shared growth projections in the report and have suggested truck rental market players to plan growth strategies accordingly. Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/7825 Market Segmentation The global truck rental market has been segmented based on truck type and lease type. On the basis of truck type, the market f...
Read more

Logistics Market Share Size Increasing Demand Industry Growth Forecast 2023

  Market Synopsis  As per the research by Market Research Future Reports (MRFR), the global logistics market 2020 is majorly driven by the advancement and development of international trade flow. The Global Logistics Market is estimated to expand at a CAGR of 7.2% during the review period. The expansion in worldwide trade has augmented the market size. Moreover, the trade policies implemented by the government are also assisting in the expansion of the market. Advancements made in shipping, port-services, warehousing, transportation sector have also played a significant role in the expansion of the market. The impeccable expansion of the e-commerce sector is a remarkable element amplifying the expansion of the global logistics market. Moreover, the demands of consumers have magnified due to the increasing demand for international as well as local commodities. The market is growing exponentially due to the robust globalization along with population growth.  However, D...
Read more

Water and Wastewater Pipe Market is Anticipated to Attain 6.53% CAGR Increasing Construction Activities Worldwide Drives Forecast 2024

Market Overview According to Market Research Future (MRFR), the global water and wastewater pipe market is estimated to expand at 6.53% CAGR from 2018 to 2024 (forecast period). This report provides a complete and accurate description of the impact of COVID-19 on the global water and wastewater pipe market. Water and wastewater pipe market is an integral part of the industrial and commercial sectors. As infrastructure development activities increase, there is also a growing demand for water and wastewater pipes. Increased maintenance also allows for effective water management systems. With the rise in global populations and urbanization, the water demand has also risen, resulting in the rapid growth of this market. Industrial toxic waste pollutes drinking water sources, increasing the need for proper water channeling. Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/7997 Market Dynamics Increasing residential and commercial construction activities ac...
Read more