Thermoform Packaging Market Is Expected To Reach Revenue Of USD 107.0 Bn By 2033, At 8.2% CAGR: Dimension Market Research.

New York, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Overview

The Global Thermoform Packaging market is projected to reach USD 52.6 billion in 2024 which is further anticipated to reach USD 107.0 billion by 2033 at a CAGR of 8.2%.

Convenience requirements for food, healthcare, and consumer goods are rapidly driving the global thermoform packaging market's growth. Thermoforming heats and molds plastic sheets, while blister and clamshell provide strength, tamper resistance, and visibility. In the field of healthcare, unit-dose blister packaging provides hygienic, protected storage of medications. Companies like Sonoco and Anchor Packaging react to environmental concerns by developing innovative, sustainable materials. North America is the anticipated dominant contributor to this because of its strong packaging sector, health demand, and packaged food consumption. Sustainability trends and technological development further drive market growth across a wide range of industries.

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The US Thermoform Packaging Market

The US Thermoform Packaging Market, estimated at USD 17.0 billion in 2024, is projected to increase at a CAGR of 7.7% until it reaches USD 33.2 billion by 2033 .

Single-serve and convenience packaging growth in the food and beverage market contributes to growth in blister and clamshell packaging in the U.S. thermoform packaging market. Sustainability, further, due to landfill depletion is causing ecology harm and toxic effects on human health, forcing the package manufacturers towards recyclable and bio-based plastics.

Recent structural innovations for food-lifecycle extension include Modified Atmosphere packaging and forming under vacuum. D&W Fine Pack and Dart Container are also investing in the latest thermoforming techniques. Strategic partnerships among the players in the industry further strengthen product development, as consumers also expect convenience and food safety. These are some of the factors that continue to raise the growth trajectory of the market in the region of North America.

Important Insights

• The Global Thermoform Packaging Market is valued at USD 52.6 billion in 2024, reaching USD 107 billion by 2033.
• The U.S. market is projected at USD 17.0 billion in 2024, growing to USD 33.2 billion by 2033 at a 7.7% CAGR.
• North America is estimated to hold a leading 38.5% share of the global thermoform packaging market in 2024.
• Blister card packaging is projected to dominate with a 37.8% share within the packaging type segment in 2024.
• Plastic materials are anticipated to lead with a 33.2% share in the material segment of the thermoform packaging market in 2024.
• Key players include Amcor, Sonoco, Placon Corp., Display Pack, Pactiv, Dart Container, Constantia, Tray-Pak Corp , and other key players.
• The market is expanding globally at an 8.2% CAGR during the forecast period.

Latest Trends

• With increasing environmental awareness, the demands on behalf of degradable and recyclable packaging make the thermoform manufacturers consider using bioplastics, compostable materials, and post-consumer recycled content to meet the strict regulatory needs.
• Companies want unique packaging designs to increase visibility, especially in the food and beverage industry. Advanced thermoforming techniques, such as pressure forming, allow the usage of custom shapes, colors, and even logos to increase functionality and aesthetic appeal for an appearance on the shelf.

Thermoform Packaging Market: Competitive Landscape

• There is huge competition in the thermoform packaging market because of leading participation by key players like Anchor Packaging, Sonoco, and D&W Fine Pack through R&D investments, sustainable solution development, and vacuum and pressure forming innovation.
• These Companies, together with originals that specialize in "green" materials, enable the possibility of sustainability in packaging. The strategic landscape is characterized by mergers and acquisitions.
• Regional competition between North America and Europe is fueled by consumer demand and stiff environmental regulations. Innovation in custom solutions and advanced production methods differentiates firms in this fast-evolving sector...

Some of the prominent market players:

• Amcor
• Sonoco Products Company
• Placon Corp.
• Display Pack, Inc.
• Pactiv LLC
• Dart Container Corp.
• Constantia
• Tray-Pak Corp.
• D&W Fine Pack
• Lacerta Group, Inc.
• RPC Group Plc
• Silgan Holdings, Inc.
• Sinclair & Rush, Inc.
• Other Key Players

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Thermoform Packaging Market Scope

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
• Clamshells Packaging
  • Mock
  • Two Piece
  • Trifold
• Skin Packaging
• Trays
• Lids
• Containers
• Others

By Material

• Plastics
  • Polyethylene Terephthalate (PET)
  • Polyvinyl Chloride (PVC)
  • Polypropylene (PP)
  • Polystyrene (PS)
  • Polylactic Acid (PLA)
  • Others (PE, HDPE, LDPE)
• Paper & Paperboard
  • SBS
  • WLC
  • Other
• Aluminum
• Wood
• Others

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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