Thermoforming Packaging Technology Market was valued at USD 12.5 Billion in 2022 and is projected to reach USD 20.1 Billion by 2030, growing at a CAGR of 6.8% from 2024 to 2030.
The Thermoforming Packaging Technology Market has undergone significant transformation from 2018 to 2022, driven by increasing demand for sustainable packaging solutions, innovative technologies, and advancements in materials. As industries prioritize environmentally friendly packaging solutions, thermoforming, which involves heating plastic sheets to form specific shapes, has gained immense popularity. In 2018, the market was valued at approximately USD 35 billion and experienced steady growth throughout the period until 2022, with a compounded annual growth rate (CAGR) of around 4.5%. The packaging industry in sectors such as food and beverage, medical devices, and consumer goods played a crucial role in driving this growth, with thermoformed packaging offering advantages like lightweight, cost-effective solutions, and customization options.
As we transition into the period from 2023 to 2033, the Thermoforming Packaging Technology Market is expected to experience a considerable surge in demand. Market analysts predict a shift towards more advanced and sustainable solutions, with an increasing emphasis on recyclable and biodegradable materials. With the growing need for eco-conscious packaging due to government regulations and rising consumer awareness, the thermoforming market is projected to grow at a robust CAGR of over 6% during this forecast period. Factors such as innovation in packaging design, improved material properties, and the rising adoption of automated packaging systems will contribute to this growth. Additionally, industries such as pharmaceuticals, cosmetics, and e-commerce are expected to further fuel demand for thermoforming packaging technologies, as the need for precise and customizable packaging continues to rise.
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Agoform GmbH
Amcor Plc
Anchor Packaging Inc.
Berry Global Inc.
Blisterpak
Inc.
Brentwood Industries Inc
CJK Thermoforming Solutions
LLC
Constantia Flexibles Group GmbH
D&W Fine Pack LLC
Dart Container Corp.
Display Pack Inc.
Dordan Manufacturing Company
Inc.
DS Smith Plc
Dupont Teijin Films U.S. Limited Partnership
Fabri-Kal Corp.
Genpak LLC
HUHTAMAKI GROUP
Merrill's Packaging
Inc.
Pactiv LLC
Placon Corporation
Plastique Group Limited
Printpack
Inc.
Winpak Ltd.
Sabert Corp.
Sealed Air Corporation
Sonoco Products Company
Tray-Pak Corporation
UFP Technologies
Inc.
Universal Plastics Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Thermoforming Packaging Technology Market
Food and Beverage
Pharmaceutical
Cosmetics & Personal Care
Homecare & Toiletries
Industrial Goods
Electrical & Electronics
Others
Based on Types the Market is categorized into Below types that held the largest Thermoforming Packaging Technology market share In 2023.
Vacuum Packaging
Pressure Packaging
Mechanical Packaging
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Thermoforming Packaging Technology Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Thermoforming Packaging Technology Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Thermoforming Packaging Technology Market, By Type
6. Global Thermoforming Packaging Technology Market, By Application
7. Global Thermoforming Packaging Technology Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Thermoforming Packaging Technology Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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