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Thermoform Packaging Market Is Expected To Reach Revenue Of USD 107.0 Bn By 2033, At 8.2% CAGR: Dimension Market Research.
| Report Highlights | Details |
| Market Size (2024) | USD 52.6 Bn |
| Forecast Value (2033) | USD 107.0 Bn |
| CAGR (2024-2033) | 8.2% |
| The US Market Size (2024) | USD 17.0 Bn |
| North America Revenue Share (2024) | 38.5% |
| Historical Data | 2018 - 2023 |
| Forecast Data | 2024 - 2033 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Packaging Type, By Material, By Basis of Process, By Heat Seal Coating, and By End-Use Industry |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Market Analysis
Blister card packaging is expected to dominate the thermoform packaging market, accounting for 37.8% of the market share in 2024, because of the versatility, protection, and visual appearance it offers. It is one of the most popular packaging within the pharmaceutical and FMCG industries for its tamper-evident features and ensures complete visibility of the product covered.
Since blister packaging is lightweight and cost-effective, it minimizes packaging material wastage and transportation costs, thus fitting into the trends of eco-friendly use. Its customizable design supports effective branding, while innovations in thermoforming allow for complex shapes, meeting consumer and regulatory needs. The shift toward recyclable materials strengthens its appeal in eco-conscious markets like North America and Europe.
Thermoform Packaging Market Segmentation
By Packaging Type
- Blister Card Packaging
- Face Seal Trapped Blister Full Card Blister
- Mock Two Piece Trifold
By Material
- Plastics
- Polyethylene Terephthalate (PET) Polyvinyl Chloride (PVC) Polypropylene (PP) Polystyrene (PS) Polylactic Acid (PLA) Others (PE, HDPE, LDPE)
- SBS WLC Other
By Forming Process
- Vacuum Forming Pressure Forming Plug Assist Forming Drape Forming Cavity Forming Two Sheet Forming
By Heat Seal Coating
- Water-Based Coatings Solvent-Based Coatings Hot Melt Coatings
By End-Use Industry
- Food & Beverage Pharmaceuticals Healthcare & Medical Devices Electronics Homecare & Personal Care Automotive Others
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Growth Drivers
- Urbanization, coupled with busy lifestyles, increases the number of people using packaged foods. These require thermoformed packaging that is durable to maintain freshness and to aid applications for ready-to-eat, frozen foods, snacks, dairy, and produce. Thermoformed blister packs fulfill pharmaceutical requirements for product protection and integrity of dosage. Increasing healthcare needs throughout the world in recent times have triggered demands for safe and regulatory compliant packaging solutions in Pharmaceuticals and Health Services.
Restraints
- Thermoformed plastics, like PET and PVC, contribute to waste, facing regulatory pressure for alternatives. Although biodegradable options exist, they involve higher production costs and infrastructure challenges for manufacturers. Thermoform Packaging relies on plastics derived from such petroleum-based raw materials. This automatically means that the prices of such raw materials are pegged to oil markets and geopolitical events. The resulting volatility in price further increases operational costs and therefore impinges on profitability and stability in manufacturing.
Growth Opportunities
- Basic biodegradable alternatives like PLA and PHA answer various questions with regard to sustainability and, therefore, represent the most attractive thermoplastic packaging material for ecologically sensitive consumers. Immediately after the implementation of such compostable alternatives in thermoforming, these companies secure top positions in the search for sustainable packaging solutions. Automation and the development of various improvements to thermoforming machinery result in greater efficiency, lower production costs, and superior quality. Innovations related to a multi-layer approach also extend barrier properties, enhancing applications and scalability across diverse industries.
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Regional Analysis
North America will continue to dominate the thermoform packaging market, accounting for about 38.5% of the market share in 2024. Its well-established food and beverages industry, high demand for single-serve and ready-to-eat packaging, and fast-growing pharmaceutical industries drive the demand for blister and clamshell packaging solutions.
Ecological concerns raise interest in recyclable or biodegradable alternatives, and companies like Anchor Packaging take a corresponding interest in such solutions. Coupled with the different government legislations on sustainability, advancements in thermoforming for high-volume production at low costs continue to strengthen the position of North America in this market.
By Region
North America
- The U.S. Canada
Europe
- Germany The U.K. France Italy Russia Spain Benelux Nordic Rest of Europe
Asia-Pacific
- China Japan South Korea India ANZ ASEAN Rest of Asia-Pacific
Latin America
- Brazil Mexico Argentina Colombia Rest of Latin America
Middle East & Africa
- Saudi Arabia UAE South Africa Israel Egypt Rest of MEA
Recent Developments in the Thermoform Packaging Market
- October 2024, Sonoco launched thermoformed packaging using recycled materials, meeting sustainability demands within the food and beverage industry. In August 2024, Anchor Packaging released recyclable thermoform containers, aligning with eco-friendly practices and regulatory standards. In July 2024, Sonoco acquired Thermoformed Solutions, strengthening its North American presence and expanding product offerings. June 2024, D&W Fine Pack launched automated thermoforming, enhancing productivity and efficiency, particularly for food packaging applications. May 2024, Dart Container increased R&D investments for biodegradable thermoform packaging, addressing the demand for sustainable solutions. In April 2024, Display Pack expanded its sustainable packaging line, offering 100% recyclable thermoformed trays for food and pharmaceuticals. March 2024, Placon introduced EcoStar packaging using recycled PET, emphasizing sustainability in the consumer goods market. December 2023, D&W Fine Pack installed energy-efficient thermoforming equipment, reducing carbon emissions, and supporting environmental sustainability goals.
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About Dimension Market Research (DMR):
Dimension Market Research (DMR) is a market research and consulting firm based in India & US, with its headquarters located in the USA (New York). The company believes in providing the best and most valuable data to its customers using the best resources analysts work, to create unmatchable insights into the industries, and markets while offering in-depth results of over 30 industries, and all major regions across the world. We also believe that our clients don't always want what they see, so we provide customized reports as well, as per their specific requirements to create the best possible outcomes for them and enhance their business through our data and insights in every possible way.
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