LONDON, Aug. 15, 2016 /PRNewswire/ -- "Growing demand from the food & beverage industry to drive the market for thermoform packaging"
The global market for thermoform packaging is projected to grow from USD 32.26 billion in 2015 to reach USD 44.55 billion by 2021, at an estimated CAGR of 5.61%. The thermoform packaging market is driven by factors such as increasing urban population, demand for pharmaceutical supplies, and growth of the food & beverage industry. Thermoform packaging provides visually appealing packaging for food that maintains freshness and provides protection during shipping and transport. Thermoformed containers are specially designed for retailers, food processors, and brand owners seeking safe packaging that is environment friendly.
"Blister packaging accounted for the largest market share in 2015"
The blister packaging segment accounted for the largest market share in 2015 in the thermoform packaging market. Blister packaging is tamper-resistant and allows a full view of the product, and hence is widely used in consumer goods. Furthermore, it allows fix alignment of goods within the package, thereby preventing loss of the products. Moreover, the use of transparent plastic films offers high visibility to the package, which further increases the marketability of the product, thus making blister packaging the largest segment.
"Asia-Pacific region to gain maximum traction during the forecast period"
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by Europe. In Asia-Pacific, China is the largest consumer for thermoform packaging, followed by Japan. China, with its growing food & beverage and pharmaceuticals industries, is expected to drive the thermoform packaging market. Japan, with its growing inclination toward convenient products, is expected to impact the thermoform packaging market in the Asia-Pacific region.
Breakdown of primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of thermoform packaging. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 – 43%, Tier 2 – 33%, Tier 3 – 24%
- By Designation: C level – 40%, Manager level – 35%, Others – 25%
- By Region: North America – 40%, Asia-Pacific – 25%, Europe – 20%, Rest of the World – 15%
The various suppliers of thermoform packaging and related products in the report are as follows:
1. Amcor Limited (Australia)
2. Bemis Company, Inc. (U.S.)
3. E.I. du Pont de Nemours and Company (U.S.)
4. Sonoco Products and Company (U.S.)
5. DS Smith Plc (U.K.)
6. WestRock Company (U.S.)
7. Constantia Flexibles GmbH (Austria)
8. Anchor Packaging (U.S.)
9. Tekni-plex Inc. (U.S.)
10. Display Pack Inc. (U.S.)
11. G. Mondini S.p.A (Italy)
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the thermoform packaging market comprehensively and provides the closest approximation of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
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