The global thermoformed tubs market is predicted to be valued at USD 10,633.8 million in 2023. According to the report published by Future Market Insights, the market is anticipated to reach nearly USD 17,822.6 million by 2033, with a growing CAGR of 5.3% from 2023 to 2033.
The demand for thermoformed tubs is soaring owing to the growing demand for these products in the pharmaceutical and healthcare packaging segment. Thermoformed plastics are manufactured using the thermoforming process - a technique that involves heating a sheet of plastic to a pliant forming temperature and shaping it into a mold and eventually trimming it to make it a usable product.
| Report Attributes | Details |
|---|---|
| Thermoformed Tubs Market Value (2023) | USD 10,633.8 million |
| Thermoformed Tubs Market Anticipated Value (2033) | USD 17,822.6 million |
| Thermoformed Tubs Projected Growth Rate (2023 to 2033) | 5.3% |
Plastics are a significant part of the packaging industry. Lately, owing to inventions and advancements in packaging technology, varied techniques are used for making plastic tubs/containers, which are tougher and can be multipurpose. Thermoform tubs are manufactured by molding plastics into several shapes and sizes by employing a vacuum or pressure on it.
The global thermoformed tubs market is gaining momentum owing to several beneficial properties of these tubs. For instance, they are cold and heat resistant, which makes it easy to pour hot fills, and can be refrigerated.
Thermoformed tubs possess the property of toughness which makes them a great option for packaging when it comes to transportation. The adoption of thermoformed tubs is surging due to their broad usage in the food industry for fresh and produced meals.
Owing to their flexibility and toughness, thermoformed tubs are widely used in packaging. Because of the fast growth of the food sector across the globe and the demand for its packaging, the thermoformed tubs market is anticipated to experience lucrative growth during the forecast period.
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Medical goods and products require cleanliness and assortment and, at the same time, a safe and secure mold to keep the products from contamination; thermoformed packaging provides just that. The thermoformed tubs market growth is predicted to be lucrative owing to a growing demand for packaging using thermoformed plastics since they have advantages such as being cost-efficient, reducing packaging waste, and others.
In medical product packaging, managing moisture is a crucial matter and thermoformed plastic materials act as a barrier film to deliver superior quality packaging. One of the driving forces behind thermoformed packaging solutions is the thin films that are incorporated into several packaging applications.
Thermoformed plastic packaging materials overall enhance the quality of medical products and are easily modifiable to render air-tight, antibacterial, and long-lasting packaging solutions. Therefore, such medical products, when used for patients, provide safeguarding from infection. Moreover, they are transparent and chemically resistant and thus best suited for laboratories, hospitals, etc.
There is a growing demand for thermoformed plastics from the food and beverage industry. This is because these plastics enhance the quality, shelf life, secure seals, etc. These factors are likely to drive the global market.
Plastic molded food containers are widely used for protecting the packaging contents, and this has profited convenience stores, grocery, bakeries, caterers, and fast-food restaurants. Thermoformed molded containers are made of polyethene and polypropylene and are majorly used for packaging food. Certain tubs, blister packages, and clamshells ate packaged goods made from thermoplastic.
Principal Consultant
| Region | North America |
|---|---|
| Market Share % (2022) | 26.5% |
North America is accountable for a 26.5% market share in the global thermoformed tubs market. Fast industrialization and the latest advancements in the packaging industry are likely to boost this region’s market during the forecast period. There is an increasing number of manufacturers and suppliers of thermoformed plastics in North America. This is driving the market further. In North America, countries like the United States and Canada are the considerable market.
In May 2018, good natured Products Inc., a Canada-based company, signed an agreement to supply a US industry leader in thermoformed packaging. Under this agreement, plant-based packaging solutions for general merchandise and food markets are covered.
| Region | Europe |
|---|---|
| Market Share % (2022) | 29.1% |
In the global thermoformed tubs market, Europe accounted for 29.1% market share, and it is said to maintain its market position during the forecast period. In this region, countries favorable for thermoformed tubs are Germany, Italy, the United Kingdom, and France. Intense consumer and manufacturing scenarios are two key factors contributing to the European market.
Moreover, in Europe, there are various stringent environmental laws levied by the government and regulatory authorities, such as the European Commission, the European Chemicals Agency (ECHA), and many other federal agencies.
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| Who | What |
|---|---|
| Yenimack Makina | Yenimack Makina is a Turkish start-up that builds thermoforming machines to manufacture disposable plates, bowls, lids, self-lidded containers, and fruit and vegetable containers. This company offers two thermoforming machines, YM 650-850 and YM 450-650. In these high-speed machines, the start-up utilizes the production technique with the lowest mold cost, as a result decreasing the overall production costs. |
| Matriq AG | Matriq AG, a Swiss start-up offers a solution for the part-individual marking of plastic components. This company has a DynamicMold technology that empowers watermarking directly in a forming machine and strengthens injection molding, blow molding, or thermoforming techniques. |
Some of the key players in the network security firewalls market are Silgan Holdings Inc, Astrapak Ltd, Universal Plastics Corporation, Plast-Pack GmbH, STM Plastics, Good Natured Products Inc., Lucky Time Pack Material Co., Ltd., Greiner Packaging GmbH, Ditai Plastic Products Co., Ltd., Tengyue Display Co., Ltd., and Swellder Electronics Technology Co., Ltd.
In July 2022, Good Natured Products Inc. acquired Shepherd Thermoforming & Packaging Inc., (a leading thermoformer with more than 35 years of experience) for CAD USD 9.5 million in cash. These assets have molds, machinery, and a 42,000-square-foot manufacturing facility, all of this situated on 2.31 acres of land in the Greater Toronto Area, Ontario.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.3% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Material Type, Shape, End User, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Silgan Holdings Inc; Astrapak Ltd; Universal Plastics Corporation; Plast-Pack GmbH; STM Plastics; Shepherd Thermoforming & Packaging Inc.; Lucky Time Pack Material Co., Ltd.; Greiner Packaging GmbH; Ditai Plastic Products Co., Ltd.; Tengyue Display Co., Ltd.; Swellder Electronics Technology Co., Ltd. |
The thermoformed tubs market in 2023 is valued at USD 10,633.8 million.
The CAGR from 2023 to 2033 will be 5.3%.
The market is valued at USD 17,822.6 million in 2033.
Europe held a market share of 29.1% market share in 2022.
Silgan Holdings Inc., Astrapak Ltd., and Universal Plastics Corporation are some key players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Polyethylene (PE) 5.2. HDPE 5.3. LDPE 5.4. Polyethylene terephthalate (PET) 5.5. APET 5.6. CPET 5.7. Polypropylene (PP) 5.8. Polystyrene (PS) 5.9. Polyvinyl Chloride (PVC) 5.10. Ethyl Vinyl Alcohol (EVOH) 5.11. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Shape 6.1. Round 6.2. Oval 6.3. Rectangular 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Food & Beverages 7.2. Electronics 7.3. Pharmaceuticals 7.4. Healthcare 7.5. Personal care & cosmetics 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Silgan Holdings Inc 18.2. Astrapak Ltd 18.3. Universal Plastics Corporation 18.4. Plast-Pack GmbH 18.5. STM Plastics 18.6. Shepherd Thermoforming & Packaging Inc. 18.7. Lucky Time Pack Material Co., Ltd. 18.8. Greiner Packaging GmbH 18.9. Ditai Plastic Products Co., Ltd. 18.10. Tengyue Display Co., Ltd. 18.11. Swellder Electronics Technology Co., Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
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Thermoformed Tubs Market
