Increasing Growth of the Retail Sector is Expected to Stimulate the Demand of Thermoform Packaging Market
Packaging plays an important role in protecting the damage or contamination from air, moisture, and toxins. Thermoform packaging is one of those packaging which can be used as a protector of the product. Thermoform packaging defines things that are manufactured by heating plastic in a mold to construct a rigid packaging product of a distinct shape. Shaped material can either be a thin gauge or thick dependent on the type of transforming equipment used in the manufacturing process. Furthermore, the demand of the thermoform packaging is attributed to some properties such as lightweight, versatility, secure containment, visibility and posing tamper evidence.
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Thermoform Packaging Market: Dynamics
The global thermoform packaging market is driven by the increasing growth of food & beverages industry. Thermoform packaging is used in the food & beverages industry widely not only to maintain freshness but also provide protection during shipping and transportation. In addition to this, the demand for thermoform packaging is also gaining traction in the pharmaceutical industry. Blister pack, a product type of thermoform packaging is commonly used as packaging for pharmaceutical tablets, capsules to deliver barrier protection for shelf life of the product and also a degree of tamper resistance. Moreover, these products are used widely in the physician sample drug products and over the counter (OTC) products. Thermoform packaging protects the shelf life of the products which is expected to bolster further the sales of thermoform packaging, especially for the retail sector.
Thermoform Packaging: Market Segmentation
The global thermoform packaging market is segmented on the basis of product type, coating, material and end-use industry
Based on the product type, the global thermoform packaging market is segmented into:
Based on coating, the global thermoform packaging market is segmented into:
Based on the material type, the global thermoform packaging market is segmented into:
Paper & paper board
Thermoform Packaging Market: Regional Outlook
In terms of geography, the global thermoform packaging market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. Asia Pacific region is expected to be the fastest-growing region during the forecast period. Growing food & beverage and pharmaceutical industries particularly in the emerging economies of Asia Pacific is expected to propel further the demand for thermoform packaging. The growing demand for packaged food products is expected to boost the demand of thermoform packaging in Europe. Among all the countries in Europe, Germany is expected to dominate the Europe thermoform packaging market over the forecast period.
Thermoform Packaging Market: Key players
Some of the key players in the global thermoform packaging market are Amcor Limited, Westrock Company, Tekni-Plex, Inc., DS Smith PLC, Anchor Packaging, E.I. Du Pont Nemours and Company, Sonoco Products Company, Display Pack Inc etc.
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