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Thermoform Packaging Market

Global Thermoform Packaging Market Size, Share, Report: By Material: Plastic, Aluminium, Paper and Paperboard, Others; By Heat Seal Coating: Water-Based, Solvent-Based, Hot Melt-Based, Others; By Type: Blister Packaging, Clamshell Packaging, Others; By End Use Industry; Regional Analysis; Competitive Landscape; 2024-2032

Global Thermoform Packaging Market Outlook

The global thermoform packaging market attained a value of USD 49.78 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.1% to reach USD 77.73 billion by 2032.                

 

Global Thermoform Packaging Market

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Increasing Demand in the Food and Beverage Sector to Augment the Global Thermoform Packaging Industry Growth

Based on end use, the food and beverage industry accounted for a significant share of the market. The increased share of this category can be attributed to the widespread use of various goods, such as containers, trays, and clamshells, by packaged food manufacturers and foodservice outlets. The adoption of thermoform products in the food and beverage segment is expected to expand over the forecast period due to rising demand for convenience or packaged food products, which, in turn, is expected to further bolster the market.

 

North America to be one of the Leading Regions in the Global Thermoform Packaging Industry

North America holds a significant share of the industry because of the widespread presence of large-scale packaged food companies and substantial penetration of organised retail sector in the region. Furthermore, the market growth in the region is being supported by the existence of large-scale thermoform packaging producers, who are focussed on delivering innovative products to the consumers. In addition, the increased demand for frozen meat and packaged pastry items, among others, also contributes to the market expansion in North America.

Meanwhile, the Asia Pacific is expected to witness a healthy growth in the forecast period. The regional market is being driven by the growing urbanisation and the increasing product demand in various end use industries in the region, including food and beverage and personal care and cosmetics.

 

Thermoform Packaging Industry: Definition and Segmentation

Thermoform packaging is a type of moulded product produced by the heat treatment process, which includes melting plastic into a particular shape using heat and pressure. It is easier and less expensive than conventional plastic shaping and forming techniques as it is heated and then placed on a mould until it cools to produce the finished object.

 

Global Thermoform Packaging Market by Segment

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By material, the industry is segmented into:

  • Plastic
  • Aluminium
  • Paper and Paperboard
  • Others

The market can be broadly categorised on the basis of heat seal coating into:

  • Water-Based
  • Solvent-Based
  • Hot Melt-Based
  • Others

Based on type, the industry is divided into:

  • Blister Packaging
  • Clamshell Packaging
  • Skin Packaging
  • Others

The market can be broadly categorised on the basis of end use industry into:

  • Food and Beverage
  • Personal Care and Cosmetics
  • Electronics
  • Pharmaceuticals
  • Homecare
  • Others

The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Thermoform Packaging Market by Region

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Increasing Penetration of E-Commerce to Bolster the Growth of the Thermoform Packaging Industry

The rapid expansion of the e-commerce industry, especially in emerging economies like India, is expected to aid the growth of the thermoform packaging industry. In addition, the increased penetration of e-food delivery platforms has resulted in an increase in demand for packaged food, such as prepared cuisine and packaged meat and seafood items, which has significantly contributed to the industry expansion. The rapid urbanisation and changing lifestyles around the world, combined with an increase in the number of organised and e-retail networks, are likely to drive the market over the forecast period. Furthermore, the constantly developing global pharmaceutical sector, which is being supported by the increased prevalence of chronic diseases and an aging population, is further driving the product demand in the segment, as pharmaceutical companies favour thermoformed blisters for their effective unit dose packing.

 

Key Industry Players in the Global Thermoform Packaging Market

The report presents a detailed analysis of the following key players in the thermoform packaging market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Display Pack, Inc.
  • DS Smith Plc
  • Lacerta Group, Inc.
  • Sonoco Products Company
  • WestRock Company
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Material
  • Heat Seal Coating
  • Type
  • End Use Industry
  • Region
Breakup by Material
  • Plastic
  • Aluminium
  • Paper and Paperboard
  • Others
Breakup by Heat Seal Coating
  • Water-Based
  • Solvent-Based
  • Hot Melt-Based
  • Others
Breakup by Type
  • Blister Packaging
  • Clamshell Packaging
  • Skin Packaging
  • Others
Breakup by End Use Industry
  • Food and Beverage
  • Personal Care and Cosmetics
  • Electronics
  • Pharmaceuticals
  • Homecare
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Display Pack, Inc.
  • DS Smith Plc
  • Lacerta Group, Inc.
  • Sonoco Products Company
  • WestRock Company
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Thermoform Packaging Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Thermoform Packaging Historical Market (2018-2023) 
    8.3    Global Thermoform Packaging Market Forecast (2024-2032)
    8.4    Global Thermoform Packaging Market by Material
        8.4.1    Plastic
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Aluminium
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Paper and Paperboard
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Others
    8.5    Global Thermoform Packaging Market by Heat Seal Coating
        8.5.1    Water-Based
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Solvent-Based
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Hot Melt-Based
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Thermoform Packaging Market by Type
        8.6.1    Blister Packaging
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Clamshell Packaging
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Skin Packaging
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Others
    8.7    Global Thermoform Packaging Market by End Use Industry
        8.7.1    Food and Beverage
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Personal Care and Cosmetics
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Electronics
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Pharmaceuticals
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Homecare
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Others
    8.8    Global Thermoform Packaging Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America Thermoform Packaging Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Thermoform Packaging Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Thermoform Packaging Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Thermoform Packaging Market  Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Thermoform  Packaging Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market  Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Display Pack, Inc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    DS Smith Plc
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Lacerta Group, Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Sonoco Products Company
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    WestRock Company
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Thermoform Packaging Market: Key Industry Highlights, 2018 and 2032
2.    Global Thermoform Packaging Historical Market: Breakup by Material (USD Billion), 2018-2023
3.    Global Thermoform Packaging Market Forecast: Breakup by Material (USD Billion), 2024-2032
4.    Global Thermoform Packaging Historical Market: Breakup by Heat-Seal Coating (USD Billion), 2018-2023
5.    Global Thermoform Packaging Market Forecast: Breakup by Heat-Seal Coating (USD Billion), 2024-2032
6.    Global Thermoform Packaging Historical Market: Breakup by Type (USD Billion), 2018-2023
7.    Global Thermoform Packaging Market Forecast: Breakup by Type (USD Billion), 2024-2032
8.    Global Thermoform Packaging Historical Market: Breakup by End-Use Industry (USD Billion), 2018-2023
9.    Global Thermoform Packaging Market Forecast: Breakup by End-Use Industry (USD Billion), 2024-2032
10.    Global Thermoform Packaging Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Thermoform Packaging Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Thermoform Packaging Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Thermoform Packaging Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Thermoform Packaging Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Thermoform Packaging Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Thermoform Packaging Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Thermoform Packaging Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Thermoform Packaging Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Thermoform Packaging Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Thermoform Packaging Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Thermoform Packaging Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Thermoform Packaging Market Structure

Key Questions Answered in the Report

In 2023, the global thermoform packaging market attained a value of nearly USD 49.78 billion.

The market is projected to grow at a CAGR of 5.1% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 77.73 billion by 2032.

The major drivers guiding the growth of the market include the extensive applications of thermoform packaging, high demand for food packaging, rapid urbanisation, changing lifestyles, and the increasing demand for light-weight eco-friendly packaging.

The key market trends are the rapid expansion of the e-commerce industry and the increased penetration of food delivery platforms.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant materials include plastic, aluminium, and paper and paperboard, among others.

The leading heat seal coatings in the market are water-based, solvent-based, and hot melt-based, among others.

The different types of thermoform packaging are blister packaging, clamshell packaging, and skin packaging, among others.

The various end use industries include food and beverage, personal care and cosmetics, electronics, pharmaceuticals, and homecare, among others.

The key players in the global thermoform packaging market are Display Pack, Inc., DS Smith Plc, Lacerta Group, Inc., Sonoco Products Company, and WestRock Company, among others.

Analyst Review

The global thermoform packaging market attained a value of USD 49.78 billion in 2023, driven by growing demand for food packaging. Aided by increasing demand for light-weight eco-friendly packaging and increased penetration of e-food delivery platforms, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.1%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on material, the industry can be segmented into plastic, aluminium, paper and paperboard, among others. Based on heat seal coating, the industry can be segmented into water-based, solvent-based, and hot melt-based, among others. Based on type, the industry can be segmented into blister packaging, clamshell packaging, and skin packaging, among others. Based on end-use industry, the industry can be segmented into food and beverage, personal care and cosmetics, electronics, pharmaceuticals, and homecare, among others. The major regional markets for thermoform packaging are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Display Pack, Inc., DS Smith Plc, Lacerta Group, Inc., Sonoco Products Company, and WestRock Company, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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