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The global thermoform
packaging market size was valued at USD 48.50 billion in
2022. The market is anticipated to expand from USD 51.96 billion in
2023 to USD 88.50 billion by 2030, exhibiting a CAGR of 7.91% over the
estimated period.
Thermoform
packaging provides a protective barrier around the product, safeguarding it from
external factors such as physical damage. The market is expected to ramp up due to the rising
demand for sustainable and cost-effective packaging for electronics and
electrical products such as batteries, electronic accessories, headphones, and
mobiles.
Source: https://www.fortunebusinessinsights.com/thermoform-packaging-market-108736
Fortune Business Insights™ provides this information in its research report, titled “Thermoform Packaging Market, 2023-2030”.
COVID-19
Impact:
Surged Demand for Food & Beverage Products and Pharmaceutical Drugs
Supported Market Growth
The COVID-19 pandemic had a significant impact on the thermoform packaging market growth. In the initial phase of the pandemic, strict lockdowns and business closures caused widespread supply chain disruptions led to shortages of raw materials and production bottlenecks in the packaging sector. However, thermoform product manufacturing experienced growth, primarily due to the heightened demand for food & beverage products and pharmaceutical drugs.
Segmentation:
Paper Segment
to Dominate Due to its vast Array of Designs Options and Flexibility
In terms of material, the market is fragmented into plastic and paper. The plastic segment
is expected to dominate as it offers an extensive array of design possibilities
and flexibility. It helps manufacturers to choose the most suitable
plastic-type based on the specific requirements of their products. This
adaptability makes it a preferred choice, catering to a wide range of
industries and applications.
Report
Coverage:
The report delivers a comprehensive
analysis of the key drivers poised to propel industry growth in the forthcoming
years. It provides valuable insights into the latest market trends and
underscores significant industry developments. Furthermore, the report assesses
the impact of the COVID-19 pandemic on market growth.
Drivers and
Restraints:
Surging
Demand for Processed Food to Propel Market Growth
The rising demand for ready-to-eat, on-the-go, and
processed food products is a crucial driver of food and beverage industry
growth. Thermoform packaging aligns seamlessly with this trend, offering a
packaging solution that ensures product freshness and provides tamper
resistance. Such features are likely to promote the growth of the market.
The global thermoform
packaging market size was valued at USD 48.50 billion in
2022. The market is anticipated to expand from USD 51.96 billion in
2023 to USD 88.50 billion by 2030, exhibiting a CAGR of 7.91% over the
estimated period.
Thermoform
packaging provides a protective barrier around the product, safeguarding it from
external factors such as physical damage. The market is expected to ramp up due to the rising
demand for sustainable and cost-effective packaging for electronics and
electrical products such as batteries, electronic accessories, headphones, and
mobiles.
Source: https://www.fortunebusinessinsights.com/thermoform-packaging-market-108736
Fortune Business Insights™ provides this information in its research report, titled “Thermoform Packaging Market, 2023-2030”.
COVID-19
Impact:
Surged Demand for Food & Beverage Products and Pharmaceutical Drugs
Supported Market Growth
The COVID-19 pandemic had a significant impact on the thermoform packaging market growth. In the initial phase of the pandemic, strict lockdowns and business closures caused widespread supply chain disruptions led to shortages of raw materials and production bottlenecks in the packaging sector. However, thermoform product manufacturing experienced growth, primarily due to the heightened demand for food & beverage products and pharmaceutical drugs.
Segmentation:
Paper Segment
to Dominate Due to its vast Array of Designs Options and Flexibility
In terms of material, the market is fragmented into plastic and paper. The plastic segment
is expected to dominate as it offers an extensive array of design possibilities
and flexibility. It helps manufacturers to choose the most suitable
plastic-type based on the specific requirements of their products. This
adaptability makes it a preferred choice, catering to a wide range of
industries and applications.
Report
Coverage:
The report delivers a comprehensive
analysis of the key drivers poised to propel industry growth in the forthcoming
years. It provides valuable insights into the latest market trends and
underscores significant industry developments. Furthermore, the report assesses
the impact of the COVID-19 pandemic on market growth.
Drivers and
Restraints:
Surging
Demand for Processed Food to Propel Market Growth
The rising demand for ready-to-eat, on-the-go, and
processed food products is a crucial driver of food and beverage industry
growth. Thermoform packaging aligns seamlessly with this trend, offering a
packaging solution that ensures product freshness and provides tamper
resistance. Such features are likely to promote the growth of the market.
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