In the medical industry, thermoforming packaging is used because it protects and maintains the cleanliness and effectiveness of medical devices, products, and components. In addition, its rigidity, durability, and security safely get medical products from the point of assembly through distribution and into the hands of the end user. Furthermore, the increase in demand for packaged food among the working population with a sedentary lifestyle is a growth factor for Europe, Asia, and North America thermoforming packaging market. Therefore, the Europe, Asia, and North America thermoforming packaging market growth is estimated to increase rapidly in the near future.
Access Full Report @ https://www.databridgemarketresearch.com/jp/reports/europe-asia-and-north-america-thermoforming-packaging-market
Data Bridge Market Research analyzes that the Europe, Asia, and North America Thermoforming Packaging Market is expected to grow at a CAGR of 6.2% in the forecast period of 2023 to 2030 and is expected to reach USD 15,573,231.88 thousand by 2030. The high adoption of thermoformed packaging in the personal care and beauty industry is expected to drive market growth.
Packaging is highly significant in the medical and pharmaceutical industry to provide sterile barrier protection. Thermoforming is considered highly sustainable in terms of production and materials. Thermoformed plastic packaging is a widely used product and is adaptable and easy to transport. They are manufactured from different plastics and come in various shapes and sizes used to package different kinds of drugs and solid doses. The demand for thin gauge thermoforming packaging products is increasing in the packaging of medical devices and medicines in the healthcare sector, which is expected to magnify the market over the forecast period. This type of packaging technique uses simple plastic for thermoforming, including HIPS (High Impact Polystyrene), HDPE (High-Density Polyethylene), PETG (Polyethylene Terephthalate Glycol), PVC (Polyvinyl Chloride), ABS (Acrylonitrile Butadiene Styrene), PET (Polyethylene Terephthalate) and many more. Many methods for processing thermoformed plastics are thin gauge, plug assist forming, vacuum snapback, and thick-gauge thermoforming. The pandemic situation has boosted the supply and transportation of drugs, small doses in various pharmaceutical industries that have increased thermoform packaging products globally.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015 – 2020)
|
|
Quantitative Units
|
Revenue in USD Thousand, Volumes in Thousand Units, and Pricing in USD
|
|
Segments Covered
|
By Product (Clamshell, Blister, Shrink, Film, Ampoule Trays, Skin, and Tray), Materials (Plastic, Aluminum, Paper and Paperboard, and Others), Pack Shape (Rectangular, Multi-Pack, Round, and Others), Closure (Peel-Reseal Film, In-line Reclosure, Zip Seal, Hinged Reclosure Lid, and Others), Thermoforming Method (Vacuum Thermoforming, Pressure Thermoforming, Mechanical Thermoforming), Heat Seal Coating (Water-Based, Solvent-Based, and Hot Melt-Based), Color (Transparent, Black, and Others), End-User (Food and Beverages, Pharmaceuticals, Electronics, Cosmetics, Home Care, and Personal Care, and Others)
|
|
Countries Covered
|
Asia (China, India, Japan, South Korea, Thailand, Singapore, Indonesia, Australia & New Zealand, Philippines, Malaysia, Hong Kong, Taiwan, and the Rest of Asia), North America (U.S., Canada, and Mexico), Europe (Germany, Italy, France, U.K., Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, and Rest of Europe)
|
|
Market Players Covered
|
Amcor plc (Switzerland), Mondi (U.K.), Sealed Air (U.S.), Sonoco Products Company (U.S.), Huhtamaki (Finland), Charpak Ltd (U.K.), D&W Fine Pack (U.S.), Display Pack (U.S.), DS Smith (U.K.), DuPont (U.S.), EasyPak (U.S.), Europack (India), Lacerta Group LLC (U.S.), M. S. THERMOFORMERS (India), Placon (U.S.), Prent Corporation (U.S.), USK Balaji Plast Pvt. Ltd (India), VisiPak (U.S.), and WINPAK LTD. (Canada) among others
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
|
Segment Analysis:
The Europe, Asia, and North America thermoforming packaging market is segmented into product, materials, pack shape, closure, thermoforming methods, heat seal coating, color, and end-user.
- On the basis of product, the Europe, Asia, and North America thermoforming packaging market is segmented into a blister, clamshell, shrink, film, ampoule trays, skin, and tray.
In 2023, the blister segment of material type is anticipated to dominate the Europe, Asia, and North America thermoforming packaging market.
In 2023, the blister is expected to dominate the Europe, Asia, and North America thermoforming packaging market as the increasing demand for the packed food online channel in the food and beverage industry will increase the demand for thermoformed packaging products.
- On the basis of materials, the Europe, Asia, and North America thermoforming packaging market is segmented into plastic, aluminum, paper and paperboard, and others. In 2023, the plastic segment is expected to dominate Europe, Asia, and North America thermoforming packaging market with a 34.71% market share. It is expected to reach USD 5,494,313.47 thousand by 2030, growing with the highest CAGR of 6.48% in the forecast period of 2023 to 2030.
- On the basis of pack shape, the Europe, Asia, and North America thermoforming packaging market is segmented into rectangular, multi-pack, round, and others. In 2023, the rectangular segment is expected to dominate Europe, Asia, and North America thermoforming packaging market with a 38.64% market share. It is expected to reach USD 6,117,502.59 thousand by 2030, growing with the highest CAGR of 6.48% in the forecast period of 2023 to 2030.
- On the basis of closure, the Europe, Asia, and North America thermoforming packaging market is segmented into peel-reseal film, in-line enclosure, zip seal, hinged enclosure lid, and others. In 2023, the peel-reseal film segment is expected to dominate the Europe, Asia, and North America thermoforming packaging market with a 32.21% market share. It is expected to reach USD 5,150,475.81 thousand by 2030, growing with the highest CAGR of 6.63% in the forecast period of 2023 to 2030.
- On the basis of thermoforming methods, the Europe, Asia, and North America thermoforming packaging market is segmented into vacuum thermoforming, pressure thermoforming, and mechanical thermoforming. In 2023, the vacuum thermoforming segment is expected to dominate the Europe, Asia, and North America thermoforming packaging market with a 48.59% market share. It is expected to reach USD 7,692,943.91 thousand by 2030, growing with the highest CAGR of 6.48% in the forecast period of 2023 to 2030.
- On the basis of heat seal coating, the Europe, Asia, and North America thermoforming packaging market is segmented into water-based, solvent-based, and hot melt-based. In 2023, the water-based segment is expected to dominate the Europe, Asia, and North America thermoforming packaging with a 53.87% market share. It is expected to reach USD 8,452,527.74 thousand by 2030, growing with the highest CAGR of 6.35% in the forecast period of 2023 to 2030.
- On the basis of color, the Europe, Asia, and North America thermoforming packaging market is segmented into transparent, black, and others. In 2023, the transparent segment is expected to dominate Europe, Asia, and North America thermoforming packaging with a 48.39% market share. It is expected to reach USD 7,652,687.40 thousand by 2030, growing with the highest CAGR of 6.47% in the forecast period of 2023 to 2030.
- On the basis of end-user, the Europe, Asia, and North America thermoforming packaging market is segmented into food and beverages, pharmaceuticals, electronics, cosmetics, home care, personal care, and others. In 2023, the food and beverages segment is expected to dominate the Europe, Asia, and North America thermoforming packaging with a 28.80% market share. It is expected to reach USD 4,615,424.77 thousand by 2030, growing with the highest CAGR of 6.66% in the forecast period of 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the major thermoforming packaging market players in the Europe, Asia, and North America thermoforming packaging market are Amcor plc (Switzerland), Mondi (U.K.), Sealed Air (U.S.), Sonoco Products Company (U.S.), Huhtamaki (Finland), Charpak Ltd (U.K.), D&W Fine Pack (U.S.), Display Pack (U.S.), DS Smith (U.K.), DuPont (U.S.), EasyPak (U.S.), Europack (India), Lacerta Group LLC (U.S.), M. S. THERMOFORMERS (India), Placon (U.S.), Prent Corporation (U.S.), USK Balaji Plast Pvt. Ltd (India), VisiPak (U.S.), and WINPAK LTD. (Canada) among others.
Market Development
- In February 2023, WINPAK LTD. announced Refresh Recycle-Ready product portfolio over the last 18 months. Winpak has made great strides in commercializing formable and non-formable recyclable films - ReForm and ReLam.
- In December 2022, Placon launched a new Crystal Seal Craving product line made with recycled PET material. The product line is made- up of post-consumer recycled PET material with a #1 recycling symbol to help meet sustainability goals. This launch will enhance the company's product portfolio for packaging materials.
- In November 2022, Huhtamaki launched ICON packaging, which is a recyclable ice cream packaging solution. The packaging is made up of 95% renewable bio-based material. ICON packaging, the first-to-market innovation in paper packaging technology, represents the company's objective to become the major manufacturer of sustainable packaging solutions.
- In November 2022, Sonoco ThermoSafe, a division of Sonoco and LATAM Cargo, an international cargo airline, added Pegasus ULD temperature-controlled equipment. Sonoco announced a global lease after the acquisition. The deal will give the pharmaceutical shipper direct access to his LATAM Cargo's Pegasus ULD containers. This will help the company to expand in the market and will also help to increase revenue.
- In August 2022, Amcor plc healthcare expanded the thermoformed tray capabilities in Europe. The company's new certified cleanroom manufacturing environment is set to host two state-of-the-art thermoforming lines. This expansion will enhance the company's product portfolio.
- In April 2022, Amcor plc established new thermoforming capabilities for medical packaging in its Sligo, Ireland, healthcare packaging facility. This will help the company to cater to the growing demand for thermoforming packaging from the medical sector.
- In May 2021, Sealed Air created a new thermoforming packaging solution that defies the traditionally thick and heavy properties of THF materials. Designed to help food processors improve efficiencies and sustainability, the new Cryovac brand LID830R is a thin, high abuse resistance, anti-fog top lid film that can reduce packaging weight by up to 50% when compared to widely used laminates. The development has enhanced the company's product portfolio.
- In April 2021, Amcor plc invented the New AmSky blister system with the potential to transform the sustainability of healthcare packaging. The first polyethylene-based thermoform blister packaging is designed to meet the stringent requirements of highly specialized and regulated pharmaceutical packaging. This innovation will deliver the first child-resistant and senior-friendly (CRSF) recyclable solution for the most in-demand pharmaceutical packaging type.
- In December 2020, Placon expanded its footprint in Elkhart, Indiana facility located at 2901 Oakland Avenue. The new expansion has doubled the thermoforming capacity at Elkhart, Indiana, and increased cleanroom manufacturing, warehouse, and office space.
- In July 2020, Mondi partnered with Austrian meat producer Hütthaler to produce a fully recyclable thermoforming film made from a mono-material for their meat and sausage products.
Regional Analysis
Geographically, the countries covered in the Europe, Asia, and North America thermoforming packaging market are Asia (China, India, Japan, South Korea, Thailand, Singapore, Indonesia, Australia & New Zealand, Philippines, Malaysia, Hong Kong, Taiwan, and rest of Asia), North America (U.S., Canada, and Mexico), Europe (Germany, Italy, France, U.K., Spain, Switzerland, Russia, Turkey, Belgium, Netherlands, and rest of Europe).
As per Data Bridge Market Research analysis:
Asia is the dominant region in the Europe, Asia, and North America thermoforming packaging market during the forecast period 2023 - 2030.
In 2023, Asia is expected to dominate the Europe, Asia, and North America thermoforming packaging market, owing to the increasing demand for thermoformed packaging in the medical sector. Asia will continue to dominate the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growth of thermoformed packaging in the personal care and beauty industry.
China (Asia) is estimated to be the fastest growing country in the Europe, Asia, and North America thermoforming packaging market during the forecast period 2023 - 2030
In 2023, China is expected to dominate the Asia thermoforming packaging market due to the growing thermoformed packaging in the personal care and beauty industry.
For more detailed information about the Europe, Asia, and North America thermoforming packaging market, click here - https://www.databridgemarketresearch.com/jp/reports/europe-asia-and-north-america-thermoforming-packaging-market
