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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.
Fortune Business Insights™ provides this information in its research
report, titled “Thermoform Packaging Market,
2023-2030”.
Source: https://www.fortunebusinessinsights.com/thermoform-packaging-market-108736
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.
Trays & Lids
Segment to Lead Driven by Rising Availability
of Frozen Meat and Meat Products
On the basis of
product type, the market
is divided into clamshells, trays & lids, containers,
films, cups & bowls, blisters, and others. The trays
& lids segment is expected to lead the market due to the increasing availability
of frozen meat and meat products in developing nations. This trend is closely
linked to the expanding penetration of cold chains and the proliferation of
organized retail chains.
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.
Fortune Business Insights™ provides this information in its research
report, titled “Thermoform Packaging Market,
2023-2030”.
Source: https://www.fortunebusinessinsights.com/thermoform-packaging-market-108736
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.
Trays & Lids
Segment to Lead Driven by Rising Availability
of Frozen Meat and Meat Products
On the basis of
product type, the market
is divided into clamshells, trays & lids, containers,
films, cups & bowls, blisters, and others. The trays
& lids segment is expected to lead the market due to the increasing availability
of frozen meat and meat products in developing nations. This trend is closely
linked to the expanding penetration of cold chains and the proliferation of
organized retail chains.
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