The “Thermoform Packaging Market” report gives a massive source to analyze the industry and other fundamental technicalities identifying with it. The examination discloses the total assessment and veritable parts of the Thermoform packaging market. This study exhibits a straightforward outline of the industry, that integrates applications, blueprints, industry chain structure, and definitions. This report prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.
The global thermoform packaging market size is anticipated to account for USD 55.13 billion by 2025. The market is predicted to register 4.7% CAGR over the forecast years. Increasing demand for packaging from various end-use industries such as pharmaceuticals, electronics, cosmetics and others are driving the market growth.
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In addition, the emergence of innovative packaging technologies aimed at increasing the shelf-life of the product is further bolstering market growth. Thermoform packaging is light in weight, which makes it popular for various applications.
Various advantages offered by thermoform packaging include wide availability of design, lower cost in prototype development and tooling. In addition, this packaging is easily customizable and helps in reducing material wastage. These properties make it an ideal choice for packaging of food & beverage products.
Based on materials, PET segment dominated the market in 2018. However, increasing preferences for sustainable packaging materials and stringent regulations regarding the use of plastic is estimated to hamper the segment growth.
North America held the highest share in the market in 2018 and projected to retain its dominance from 2020 to 2027. Presence of a large number of foodservice outlets and thermoform packaging industries are driving the regional growth. While the Asia Pacific is estimated to witness the maximum growth from 2019 to 2025 owing to rapid growth in the e-commerce industry.
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