As per the latest market research conducted by FMI, the global thermoformed containers market is expected to record a CAGR of 4.6% from 2023 to 2033. In 2023, the market size is projected to reach USD 19.9 billion. By 2033, the valuation is anticipated to reach USD 31.6 billion.
Key Factors that Might Propel the Market Growth are:
Thermoformed containers are products made using a thermoforming process where the closed-cell foams or rigid plastics are heated to a pliable temperature. These are molded using pressure and vacuum forming techniques for the desired shape.
These containers are gaining popularity owing to attributes such as lightweight, durability, water resistance, cost-effectiveness, and reusability. On account of this, the containers such as clamshells, blisters, trays & lids, and bowls are being adopted across diverse industries. Such factors are expected to surge the thermoformed containers market growth.
The consumption of packaged food and beverage products such as fresh fruits, vegetables, meat, dry fruits, and beverages has been experiencing an exponential surge. Rapid urbanization, which has led to changes in usage patterns can be attributed as the main factor.
There has been a surging demand for ready-to-eat and drink products owing to the fast-paced lifestyle, especially across developing countries such as China and India. This has created strong demand for lightweight, recyclable, and reusable packaging solutions. Such factors might increase the adoption of thermoformed containers during the forecast period.
Hence, leading players in the market are increasingly focusing on mergers and acquisitions to expand their production capacity and product portfolio. For instance, in 2018, Universal Plastics Group, a leading provider of packaging solutions announced the acquisition of Kintz Plastic to expand its production capacity.
North America is projected to be the leading market for thermoformed containers. The existence of an organized food sector is one of the key factors, which has led to the growth of the thermoformed food containers market. There is also a high consumption of packaged food, which has led to the increased application of thermoformed packaging.
As per CAGR, Asia Pacific is anticipated to hold the dominant position. Rapid urbanization, coupled with a sedentary lifestyle which has led to shifting consumption patterns is expected to increase sales.
| Attributes | Value |
|---|---|
| Thermoformed Containers Market Value (2022) | USD 19 billion |
| Thermoformed Containers Market Expected Value (2023) | USD 19.9 billion |
| Thermoformed Containers Market Forecast Value (2033) | USD 31.6 billion |
| Thermoformed Containers Market Expected CAGR (2023 to 2033) | 4.6% |
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Demand in the global thermoformed containers market recorded a CAGR of 4.4% during the historical period. As per the report, the market is projected to record a CAGR of 4.6% during the forecast period.
Particularly in the healthcare industry, thermoformed containers have become more widely used. As a result, producers in the healthcare industry are investing heavily in the market for thermoformed plastic containers. This is due to its ability to help with properly disposing of waste.
Short-term (2023 to 2026): The market might take advantage of the booming electronics sector during this period. Electronics manufacturers are searching for safe methods for disposing of E-waste because it can also lead to radiation issues.
Medium-term (2026 to 2029): This period is expected to be driven by the growth of the personal care market. The manufacturers are making use of products of different shapes and sizes. Thermoforming packaging helps in preserving the products that are manufactured by these industries. These thermoform containers are also sturdy, which helps while handling fragile cosmetics.
Long-term (2029 to 2033): We might witness certain technological upgrades in the market during this period. Due to the potential focus on boosting production rates, manufacturers may invest more in technological issues. In order to increase capacity, we may therefore see the use of technologies like IoT.
| Region | North America |
|---|---|
| Country | United States |
| CAGR (2023 to 2033) | 3.5% |
| Region | Europe |
|---|---|
| Country | Germany |
| CAGR (2023 to 2033) | 3.6% |
| Region | Europe |
|---|---|
| Country | France |
| CAGR (2023 to 2033) | 2.7% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR (2023 to 2033) | 6.5% |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR (2023 to 2033) | 7.2% |
The United States is projected to dominate North America, which is expected to account for nearly 37.8% of the total market share in 2023.
| Attributes | Details |
|---|---|
| United States Market Expected Size (2033) | USD 4.9 billion |
| United States Market Absolute Dollar Growth | USD 1.4 billion |
| CAGR % 2018 to 2022 | 3.1% |
Surging demand for durable packaging solutions is expected to spur sales. A growing trend of pursuing artistic activities such as painting is compelling manufacturers to launch trendy and consumer-convenient solutions such as paint trays and others. This has consequently led to the growth of thermoformed trays market.
For instance, in 2020, LINDAR Corp., a leading plastic thermoforming manufacturer, launched a new range of thermoformed PAINTWELL products. These included paint trays, heavy gauge plastic parts, and paint tray liners. A slew of such product launches is estimated to bolster the sales of thermoformed plastic trays in the United States.
Germany is anticipated to emerge as a lucrative market for thermoformed containers in Europe over the forecast period.
| Attributes | Details |
|---|---|
| Germany Market Expected Size (2033) | USD 2.1 billion |
| Germany Market Absolute Dollar Growth | USD 617.5 million |
| CAGR % 2018 to 2022 | 4.1% |
A rapid shift in customer preference towards novel blister packaging from traditional bottles is spurring demand in the pharmaceutical industry. These containers protect medications from oxygen and moisture, as a result of which the pharmaceutical players are investing millions in thermoformed packaging trays market.
Also, ease of transportation and low cost of thermoformed blister packaging encourage industry players to adopt this solution. Driven by the growing adoption of thermoformed blisters in Germany, the Europe market is projected to account for nearly 28% of the total market share.
China is estimated to account for a significant share in Asia Pacific excluding Japan’s thermoformed containers market through 2033. Asia Pacific may hold 33.6% of the total market share in 2023.
| Attributes | Details |
|---|---|
| China Market Expected Size (2033) | USD 6.1 billion |
| China Market Absolute Dollar Growth | USD 2.9 billion |
| CAGR % 2018 to 2022 | 5.6% |
Demand for single-serve packaging solutions such as clamshell packaging is rapidly increasing, owing to the rising consumption of on-the-go food and beverage products in China. This in turn is propelling sales in the market.
Besides, the introduction of Modified Atmosphere Packaging (MAP) containers for increasing the shelf-life of food products is expected to increase the demand.
| Attributes | Details |
|---|---|
| France Market Expected Size (2033) | USD 1.2 billion |
| France Market Absolute Dollar Growth | USD 284.6 million |
| CAGR % 2018 to 2022 | 2.3% |
| Attributes | Details |
|---|---|
| India Market Expected Size (2033) | USD 3.5 billion |
| India Market Absolute Dollar Growth | USD 1.7 billion |
| CAGR % 2018 to 2022 | 6.8% |
Principal Consultant
| Segment | Product Type |
|---|---|
| Attributes | Cups and Bowls |
| CAGR % 2018 to 2022 | 5.1% |
| CAGR % 2023 to 2033 | 4.7% |
| Segment | Material Type |
|---|---|
| Attributes | Polyethylene |
| CAGR % 2018 to 2022 | 4.2% |
| CAGR % 2023 to 2033 | 3.8% |
Based on the material type, the polyethylene segment is expected to account for nearly 3 out of 10 sales over the forecast period.
The adoption of polyethylene is gaining traction across the packaging industry, owing to its characteristics such as high durability and flexibility. They also display resistance to moisture, odors, and stains. Attributed to this, the surging usage of polyethylene for manufacturing thermoformed clamshells, blisters, and other packaging solutions is anticipated to drive growth.
The cups and bowls segment is expected to hold the leading market share during the forecast period. The surging beverage market is expected to increase the segment’s market share. The manufacturers from the beverage segment are also looking for solutions to avoid spilling of the beverages.
The producers rely upon the thermoformed containers' affordability, which has assisted the businesses in cost-cutting.
The rapid expansion of the pharmaceutical industry is expected to surge market growth. The introduction of novel thermoformed blisters packaging solutions is expected to propel growth. These come with better sustainability, advanced technology integration, and enhanced protective features, which may augment the growth across the segment.
In terms of end use, the food & beverage segment is expected to account for 42.4% of the thermoformed containers in 2023.
The introduction of easily recyclable, printable, and food & beverage application-specific containers is fueling sales of thermoformed containers in the segment. Also, the growing demand for packaged and on-the-go food products due to the fast-paced lifestyle of consumers is driving growth across the segment.
The start-ups have been producing sustainable, zero-waste packaging solutions. The packaging costs are lowered as they have been making use of the pay-per-use model. The customers are provided with an option to choose SwapBox packaging at checkout. The consumers have two weeks to return the SwapBox to the designated drop-off location.
Spruce: Spruce has been offering refillable cleaning products. The non-toxic and chemical free cleaning products are available in refill packs, to which customers need to add water. The Aluminum-based ‘Eternity Bottle’ lasts over 100 fills. This drastically reduces the amount of plastic waste sent to landfills. In July 2022, Spruce raised USD 26 million in the Series B round from Fitz Gate Ventures and 6 others.
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Manufacturers have invested a significant amount of money in such facilities as a result of the increased need for manufacturing facilities in regions with enormous potential. Since that they offer environmentally friendly means of protecting white goods, these are anticipated to open up a lot of options. Sonoco added a new factory in Türkiye in November 2022 to enhance Sonoplast Cornerpost Production.
Important Developments in the Market:
| Company | Description |
|---|---|
| DS Smith | DS Smith is the leading provider of sustainable packaging solutions, paper products, and recycling services. Over the past 80 years, the company has grown dramatically, along with its services and areas of expertise. DS Smith operates in 30 different countries and has been employing over 30,000 people. Owing to the skills and knowledge of its employees, the company is able to provide strategic support to its customers across the entire packaging supply cycle. |
| Berry | Berry has been partnering with customers to bring innovative solutions that meet the needs of some of the rapidly growing markets. All this is done while harnessing the strength of its people around the world to help customers and communities achieve sustainability goals. From rural communities to metropolitan areas, Berry is committed to having a positive impact within the manufacturing and innovation center communities. |
| Sonoco | Sonoco has believed in bringing more to packaging. The integrated packaging solutions have helped define brand personalities, create unique customer experiences, and enhance the quality of products and quality of life for people around the world. The company’s purpose has been revolving around ‘Better Packaging, Better Life’. Sonoco expects its suppliers to place a strong emphasis on quality, service, cost savings, innovative solutions, and technology. |
The thermoformed containers market is likely to be valued at USD 19.9 billion in 2023.
The thermoformed containers market rose at a 4.4% CAGR from 2018 to 2022.
Cups and bowls will remain preferred in the thermoformed containers market.
The United States is estimated to reach a valuation of USD 4.9 billion by 2033.
DS Smith, Berry, and Sonoco are the leading market players.
1. Executive Summary | Thermoformed Containers Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Blisters 5.2. Clamshells 5.3. Cups & Bowls 5.4. Trays & Lids 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. Polyethylene 6.2. Polypropylene 6.3. Polyvinyl Chloride 6.4. Polystyrene 6.5. Other Material Types 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food & Beverages 7.2. Pharmaceuticals 7.3. Cosmetics & Personal Care 7.4. Homecare Products 7.5. Electronics & Electricals 7.6. Others 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific Excluding Japan 8.5. Japan 8.6. Middle East and Africa 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Excluding Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Sonoco Products Company 17.2. DS Smith plc 17.3. Berry Global Group 17.4. Huhtamaki Oyj. 17.5. Silgan Holdings Inc. 17.6. Pöppelmann GmbH & Co. KG 17.7. Universal Plastics Corporation 17.8. Pactiv LLC 17.9. Lindar Corporation 17.10. Sinclair & Rush, Inc. 17.11. Winpak Limited 17.12. Anchor Packaging Inc. 17.13. Tray Pak Corporation 17.14. Display Pack Inc 18. Assumptions & Acronyms Used 19. Research Methodology
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Thermoformed Containers Market
