Europe, Asia, and North America Thermoforming Packaging Market, 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) - Industry Trends and Forecast to 2030.
Europe, Asia, and North America Thermoforming Packaging Market Analysis and Size
Europe, Asia, and North America thermoforming packaging market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with 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 major factor driving the growth of the thermoforming packaging market is the rising popularity of Thermoforming Packaging products among consumers and growing awareness regarding the properties of thermoforming packaging products.
Europe, Asia, and North America thermoforming packaging market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an analyst brief. Our team will help you create a revenue-impact solution to achieve your desired goal.
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015 - 2020)
|
|
Quantitative Units
|
Revenue in USD Thousand
|
|
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
|
U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey, and the Rest of Europe. Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, Hong Kong, Taiwan, and the Rest of Asia
|
|
Market Players Covered
|
DS Smith, DuPont, Amcor plc, Mondi, Display Pack, M. S. THERMOFORMERS, D&W Fine Pack, EasyPak, Placon, Lacerta Group LLC, USK Balaji Plast Pvt. Ltd, Sealed Air, Huhtamaki, Prent Corporation, Charpak Ltd, Sonoco Products Company, VisiPak, Europack, and WINPAK LTD., among others
|
Market Definition
Thermoforming is plastic molding technology that manufactures a wide range of useful items. Thin plastic sheeting is heated throughout the process of manufacturing, which makes it easier to manipulate. A sheet is created over a mold once it has reached a malleable temperature. The completed product is trimmed after it has been cooled to a final shape in order to maximize its usage. The major kinds of thermoforming are vacuum forming and pressure forming. Heat and pressure are used to pull plastic sheets into their final arrangement during vacuum forming. After heating a sheet and placing it over a mold, a vacuum is used to mold it into the required form. Pressure forming is comparable to vacuum forming but with the extra advantage of more pressure. This pressure allows for more detail and structure, making it an excellent choice when the aesthetic is important.
Europe, Asia, and North America Thermoforming Packaging Market Dynamics
Drivers
- Increased demand for thermoformed packaging in the medical sector
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.
- Increasing demand for packaged food among the working population
Thermoformed packaging products have become an essential part of food product packaging. Packaging's fundamental role is to protect the product from damage during transit, but packaging also protects the product in the warehouse and retail shops before product sale. In addition, different packaging types are used for different kinds of food products. For instance, thermoformed packaging products are used for frozen and packed food.
With growing urbanization, the disposable income of consumers has also increased the ability of people to spend significantly on luxuries such as eating from restaurants. The ease of availability of readymade food quickly is perhaps the most defining factor in the growth of the online food delivery business. This has led to the online food delivery business industry's much-required boost.
Opportunities
- Increase in research and development
In recent times, there has been an increase in research and development of thermoforming packaging. The growth and need for packaging in various industries, such as pharmaceuticals, food and beverage, and electronics among others, have boosted the need for research and development of new thermoforming packaging products. Moreover, the requirement for enhanced product protection, shelf-life, and cost-effective packaging solutions is rising. Along with it, the industrial shift towards sustainable and eco-friendly packaging encourages investment in research and developmental activities. Moreover, researchers are finding ways to find new sustainable materials for thermoforming packaging, improve recyclability, and reduce waste of thermoforming packaging materials.
- Low cost associated with thermoforming manufacturing
It has been estimated that almost 80% of the thermoforming market is dominated by packaging. Compared to various other methods, thermoforming has various advantages. Thermoforming can be done to produce a variety of products having different shapes, thicknesses, and sizes. Different types of materials, such as polyvinyl chloride, polyethylene terephthalate, and polystyrene polymers, can be used for thermoforming packaging that is low in cost as compared to other packaging materials, such as metal and glass. Moreover, the tooling costs are known to be less expensive when compared to injection molding. Molds for thermoforming are often made of inexpensive aluminum. In contrast, injection molds are typically composed of thicker aluminum. This results in half the material used for the making of a mold, which reduces the up-front cost of the thermoforming. Also, thermoforming packaging consists of creating various packaging products and solutions that can be molded into any shape, which makes the thermoforming packaging cost-effective, and also large numbers of packaging can be manufactured.
Restraints/Challenges
- Volatility in raw material prices
Thermoforming is a manufacturing process that utilizes vacuum, heat, and pressure to transform sheets made up of various materials, such as polymers, metal, and paper, into three-dimensional shapes which are created using a mold. The mold used for the thermoforming packaging is made from wood and metals such as aluminum. Different types of plastic materials, such as polyvinyl chloride, polyethylene, and polypropylene, are derived from petroleum products. Thus, plastics are dependent on oil prices. In addition, material such as steel prices is volatile in nature that is used for the production of thermoforming packaging machines. When the prices of raw materials fluctuate due to factors such as supply, demand, storage, or shortage, the cost of producing thermoforming packaging too varies for the manufacturers. This can even raise the prices for customers who are buying the end product, which is contained in the thermoformed product packaging, due to the high cost of packaging when raw materials prices rise, and manufacturers could even bear lower profit margins and vice versa.
- Environmental concerns regarding thermoforming packaging materials
Consumers are becoming increasingly aware that plastic and various plastic materials can have harmful effects on the environment. This has made much of consumers' concern focused on plastic's post-consumption or end-of-life effects on the environment, such as its recyclability, biodegradability, and reusability. The effect of plastic on the environment, however, starts well before it hits store shelves as it starts with the extraction of fossil fuels and crude oil as it is the major source of its raw materials.
The used plastic and its waste is critically harming the environment as the recycling rates for plastics are very low compared to other counterpart materials.
- Stringent regulations imposed on the use of plastic
There has been the imposition of various stringent regulations on the use of thermoforming packaging with rising environmental concerns related to toxicity issues, and this will pose a major challenge to the growth of the Europe, Asia, and North America thermoforming packaging market.
Most of the developed countries and regions have taken significant steps to introduce regulations to drive sustainability, while others are still operating as per the status quo, with limited or no regulations in place.
Recent Development
- In April 2022, Amcor plc established new thermoforming capabilities for medical packaging in its Sligo, Ireland, healthcare packaging facility
Europe, Asia, and North America Thermoforming Packaging Market Scope
The Europe, Asia, and North America thermoforming packaging market is categorized based on product, materials, pack shape, closure, thermoforming method, heat seal coating, color, and end-user. The growth amongst these segments will help you analyze major industry growth segments and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product
- Clamshell
- Blister
- Shrink
- Film
- Ampoule Trays
- Skin
- Tray
On the basis of product, the Europe, Asia, and North America thermoforming packaging market is classified into clamshell, blister, shrink, film, ampoule trays, skin, and tray.
Materials
- Plastic
- Aluminum
- Paper
- Paperboard
- Others
On the basis of materials, the Europe, Asia, and North America thermoforming packaging market is classified into plastic, aluminum, paper and paperboard, and others.
Pack Shape
- Rectangular
- Multi-Pack
- Round
- Others
On the basis of pack shape, the Europe, Asia, and North America thermoforming packaging market is classified into rectangular, multi-pack, round, and others.
Closure
- Peel-Reseal Film
- In-line Reclosure
- Zip Seal
- Hinged Reclosure Lid
- Others
On the basis of closure, the Europe, Asia, and North America thermoforming packaging market is classified into peel-reseal film, in-line reclosure, zip seal, hinged reclosure lid, and others.
Thermoforming Method
- Vacuum Thermoforming
- Pressure Thermoforming
- Mechanical Thermoforming
On the basis of thermoforming method, the Europe, Asia, and North America thermoforming packaging market is classified into vacuum thermoforming, pressure thermoforming, and mechanical thermoforming.
Heat Seal Coating
- Water-Based
- Solvent-Based
- Hot Melt-Based
On the basis of heat seal coating, the Europe, Asia, and North America thermoforming packaging market is classified into water-based, solvent-based, and hot melt-based.
Color
- Transparent
- Black
- Others
On the basis of color, the Europe, Asia, and North America thermoforming packaging market is classified into transparent, black, and others.
End User
- Food and Beverages
- Pharmaceuticals
- Electronics
- Cosmetics
- Home Care
- Personal Care
- Others
On the basis of end-user, the Europe, Asia, and North America thermoforming packaging market is classified into food and beverages, pharmaceuticals, electronics, cosmetics, home care, personal care, and others.
Europe, Asia, and North America Thermoforming Packaging Market Regional Analysis/Insights
Europe, Asia, and North America thermoforming packaging market is segmented based on product, materials, pack shape, closure, thermoforming method, heat seal coating, color, and end-user.
The countries in Europe, Asia, and North America thermoforming packaging market are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey, and the rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia, New Zealand, Hong Kong, Taiwan, and the rest of Asia.
Asia is expected to dominate the Europe, Asia, and North America thermoforming packaging market due to increasing demand for packaged food among the working population. China is expected to dominate the Asia thermoforming packaging market due to growing thermoformed packaging in the personal care and beauty industry.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe, Asia, and North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Europe, Asia, and North America Thermoforming Packaging Market Share Analysis
Europe, Asia, and North America thermoforming packaging market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the Europe, Asia, and North America thermoforming packaging market.
Some of the prominent participants operating in the Europe, Asia, and North America thermoforming packaging market are DS Smith, DuPont, Amcor plc, Mondi, Display Pack, M. S. THERMOFORMERS, D&W Fine Pack, EasyPak, Placon, Lacerta Group LLC, USK Balaji Plast Pvt. Ltd, Sealed Air, Huhtamaki, Prent Corporation, Charpak Ltd, Sonoco Products Company, VisiPak, Europack, and WINPAK LTD., among others.
SKU-