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The global thermoform packaging market grew at a CAGR of around 5% during 2015-2020. Thermoforming refers to a plastic forming technique that helps in making various packaging products. It involves heating rigid plastics, and other specialty materials to make them easy to manipulate. Thermoforming is differentiated as vacuum forming and pressure forming. In vacuum forming, plastic sheets are heated and placed over molds to be vacuumed into the desired shapes. On the other hand, in pressure forming, extra pressure is applied for better detail and texture. Thermoforming is utilized for making different packaging components and products. These products include unit dose packaging, such as blister packs for pharmaceutical and over-the-counter (OTC) drugs, clamshell packaging for health and beauty items, and plastic trays for food products. Thermoforming offers various benefits, including adaptability to dynamic requirements, low operating cost, and large-scale customization availability. It also has a fast turnout time, which makes the process ideal for fulfilling last-minute orders.
One of the key factors propelling the thermoform packaging market growth is its increasing usage in the food and beverages industry. Thermoform packaging solutions are characterized by various associated advantages, including extended product shelf-life, greater product visibility and better protection for products against external factors. Consequently, this type of packaging is now increasingly being used for vegetables, cheese, meat, and baked goods. Besides this, the cost-effectiveness of thermoform packaging and an increasing emphasis on the development of sustainable packaging solutions are contributing to the market growth further. Other factors, such as technological advancements in the production process, along with the widespread utilization of thermoform packaging solutions in the pharmaceutical industry, are expected to create a positive outlook for the market. Looking forward, IMARC Group expects the global thermoform packaging market to exhibit moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global thermoform packaging market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, material, product and end use.
Breakup by Material:
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Amcor Plc, Anchor Packaging LLC (Hermann Companies Inc.), Archer-Daniels-Midland Company, BASF SE, D&W Fine Pack Holdings LLC, Dart Container Corporation, Display Pack Inc. DS Smith Plc, Huhtamäki Oyj, Lacerta Group Inc., Pactiv LLC, Placon Corporation, Sonoco Products Company, Tekni-plex Inc. (Genstar Capital LLC) and WestRock Company.
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