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Global Thermoform Packaging Market To Be Driven By The Flourishing Online Food Delivery Sector In The Forecast Period Of 2022-2027
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The new report by Expert Market Research titled, 'Global Thermoform Packaging Market Report and Forecast 2022-2027', gives an in-depth analysis of the global thermoform packaging market , assessing the thermoform packaging market based on its segments like materials, heat seal coatings , types, end use industries, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): About USD 43 trillion
- Forecast CAGR (2022-2027): 5%
The global market for thermoform packaging is being driven by applications in the food and beverage sector. This can be associated with the growing use of containers, trays, and clamshells, among others by packaged food manufacturers and food service outlets. In addition, the market is further expected to grow at a significant pace in the coming years due to the rising popularity of ready-to-it and packaged food products. Meanwhile, North America holds a considerable share in the market due to the increased demand for frozen meat and packaged pastry items, which has boosted the demand for the thermoform packaging in the region. Furthermore, the market growth in the region can further be ascribed to the existence of large-scale thermoform packaging producers, who are focused on delivering innovative products to the consumers.
Industry Definition and Segmentation
Thermoform packaging refers to a kind of molded product that is produced on being subjected to heat. Under heat and pressure, the melted plastic is transformed into desirable shapes and sizes. This process is easier and cost-effective in comparison to conventional plastic shaping and forming techniques as it is heated and then placed on a mold until it cools to produce the finished object.
On the basis of material, the market can be segmented into:
- Paper and Flipchart
The market, based on heat seal coating, can be classified into:
- Water Based
- Hot Melt-Based
Based on type, the market divisions include:
- Blister Packaging
- Clamshell Packaging
- Skin Packaging
The end use industries of thermoform packaging include:
- Food and Beverage
- Personal Care and Cosmetics
The regional markets for thermoform packaging include:
- North America
- latin america
- Middle East and Africa
Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/thermoform-packaging-market/requestsample
The growth in the global market for thermoform packaging is anticipated to be driven by the flourishing e-commerce sector. The establishment and growth of online food delivery channels are positively influencing the market growth of thermoform packaging in packaged food applications. Thermoform packaging in the packaged food segment allows for efficient packaging solutions for products like seafood, gravy food, and frozen items, among others, thereby contributing to the market. Moreover, with rapid urbanization and inflating per capita disposable incomes, the growth of the online food delivery sector is anticipated to fuel the growth of thermoform packaging as well.
Key Market Players
The major players in the market are Display Pack, Inc., DS Smith Plc, Lacerta Group, Inc., Sonoco Products Company, and WestRock Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients' needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
Company Name: Claight Corporation
Contact Person: Louis Wane, Corporate Sales Specialist – USA
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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