How Increasing Demand for Packed Food Items is Inspiring Packaging Manufacturers to Use Thermoforming Films?
FMI predicts that thermoforming films are an effective solution for storage of food products, and have gained popularity within a short span of time. As per the study, the market for thermoforming films is projected to be valued at US$ 542 Million in 2022. During the 2022 to 2032 forecast period, a CAGR of 3.7% is anticipated for the industry, with an expected valuation of US$ 781 Million in 2032.
Data Points
Key Statistics
Market Value in 2022
US$ 542 Million
Market Value in 2032
US$ 781 Million
Growth Rate (2022 to 2032)
3.7% CAGR
Thermoforming is a method of forming plastic sheets. These sheets are available in a variety of thicknesses, depending on the product type. Thinner sheets of plastic are referred to as films. Thermoforming films are essential for the creation of many common consumer goods.
Thermoforming films provide long shelf life, strong sealing capability, printability, and lightweight packaging. These films are easier to carry. They also incur less expenses for transportation of beverages vis-à-vis rigid packaging.
Increasing demand for packed food items and various other products is inspiring packaging manufacturers for to utilize their resources for achieving better & economical packaging solutions to gain the competitive advantage in the market.
A report from Future Market Insights suggests that thermoforming films are an effective solution for storage of food products which have gained popularity in packaging industry within a short span of time. The type and design of the thermoforming films can be easily obtained according to the industrial requirement by changing the thickness of the thermoforming sheet.
Applications of Thermoforming Film
Thermoforming film is used to create a variety of everyday products, such as:
Consumer goods. Thermoforming film is often a preferred method for manufacturing disposable plastic cups, plates, and other consumer goods.
Packaging. Thin-gauge thermoforming is used to create plastic packaging for products across retail, medical, food and beverage, and other industries.
Medical. Thermoforming films can be used to produce face shields or other medical equipment.
Displays. The screens on many smart devices are formed using thermoforming film.
Marketing. Thermoforming offers an ideal solution for creating panels or thin plastic parts used in POP and POS displays and other marketing initiatives.
Advantages of Thermoforming
There are some advantages traditionally associated with thermoforming:
Low cost. Plastic sheets are an affordable raw material and the high-volumes facilitated by the thermoforming process generate additional economies of scale on large production runs.
Versatility. Thermoforming is a flexible process than can be used to make a variety of plastic goods of varying complexity.
Fast turnaround. As a high-volume plastic molding process, thermoforming offers fast lead times for large volumes of plastic products.
Low waste. Excess material can be collected, reground, and formed into plastic sheets for additional thermoforming activities.
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Thermoforming Films Market : Global Industry Analysis 2012 - 2016 and Opportunity Assessment; 2017 - 2027 Overview
Increasing demand for packed food items and various other products is inspiring packaging manufacturers for to utilize their resources for achieving better & economical packaging solutions to gain the competitive advantage in the market.
In thermoforming process, thermoforming films are transformed into the desired design of molds either by pressure molding or vacuum forming technology. Thermoforming technology is suitable for manufacturing of PA/EVOH based multilayer films and containers thus providing efficient packaging solution without hampering the barrier properties of the packaging.
Thermoforming films are an effective solution for storage of food products which has helped thermoforming films to gain popularity in packaging industry within a short span of time. The type and design of the thermoforming films can be easily obtained according to the industrial requirement by changing the thickness of the thermoforming sheet.
Thermoforming Films Market: Market Dynamics
To tap the growing potential of the packaging industry packaging manufacturers are exploiting their resources for providing better packaging solutions to its customers. Thermoforming films is one such packaging solution used by packaging manufacturers for filling the gap in economical packaging in the flexible and rigid packaging market. World packaging market is estimated to around US$ 827 Bn and expected to grow at a CAGR of over 4% over the forecast period.
The use of containers manufactured from thermoforming films provides bulk packaging solutions for food and medical industry is one of the key drivers for the thermoforming film's market. Products packed in thermoforming films have the higher turnover ratio as they are packed in transparent films and have higher product visibility without compromising with the barrier properties of the packaging.
Thermoforming films are puncture resistance which enables manufacturers to use their products for packaging of sharp products while increasing the area of application for thermoforming films market. Some other new developments such as the entrance of thermoforming films suitable for microwave cooking is supporting the growth in thermoforming films market.
However, plastic being the most used raw material for manufacturing of the thermoforming films there are speculations against the use of thermoforming films for packaging of food products which may limit its growth.
The increase in the usage of environment-friendly products can hamper the growth of thermoforming films market. However, on the backdrop of rapid growth in flexible packaging, the demand in thermoforming films market may have new opportunities.
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Global Thermoforming Films market: Regional Outlook
Regionally global thermoforming films market is segmented into
North America
Latin America
Eastern Europe
Western Europe
Asia-Pacific excluding Japan (APEJ)
Middle East & Africa (MEA)
Japan
APEJ is expected to be the largest and the fastest-growing segment in the world region attributed to the rapid industrialization in the region. North America is the largest precipitate consumer of goods in the world is expected to follow APEJ region in thermoforming films market.
Latin America is expected to grow rapidly over the forecast period. Western & Eastern Europe are expected to grow moderately over the forecast period. MEA despite being the smallest region in thermoforming films market is expected to grow rapidly over the forecast period
Thermoforming Films Market: Key Players
Some key players of the thermoforming film's market are Vecom Group, Vishakha Polyfab Pvt. Ltd, Klöckner Pentaplast, DuPont, Soretrac (UK) Limited, SKY-LIGHT A/S, Hypac Packaging Pte Ltd., Peiyu Plastics Corporation, AVI Global Plast., vivavak.mk, Verstraete in mold labels, Synpac Limited, F.H.P. PAK Sp. z o.o., Clifton Packaging Group Limited, Welch Fluorocarbon Inc, RapidMade, Inc. and FLAIR Flexible Packaging Corporation.
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The report covers exhaustive analysis on
Global Thermoforming Films Market Segments
Global Thermoforming Films Market Dynamics
Historical Actual Market Size, 2012 - 2016
Global Thermoforming Films Market Size & Forecast 2017 to 2027
Supply & Demand Value Chain for Thermoforming Films Market
Global Thermoforming Films Market Current Trends/Issues/Challenges
Competition & Companies involved in Thermoforming Films Market
High Altitude Aeronautical Platform Stations Technology
Value Chain of High Altitude Aeronautical Platform Stations
Global Thermoforming Films Market Drivers and Restraints
Regional analysis for Global Thermoforming Films Market includes
North America Thermoforming Films Market
USA
Canada
Latin America Thermoforming Films Market
Argentina
Mexico
Brazil
Rest of Latin America
Western Europe Thermoforming Films Market
Germany
France
UK
Spain
Italy
Nordic
Benelux
Rest of Western Europe
Eastern Europe Thermoforming Films Market
Poland
Russia
Asia Pacific Thermoforming Films Market
Australia and New Zealand (A&NZ)
China
India
ASEAN
Rest of Asia Pacific
Japan Thermoforming Films Market
Middle East and Africa Thermoforming Films Market
GCC Countries
North Africa
South Africa
Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain . The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Thermoforming Films Market: Market Segmentation
Thermoforming films market is segmented by material type, by end use, and by end-use industry.
Based on the material type, thermoforming films market is be segmented into:
Polyvinyl Chloride (PVC)
Polyethylene (PS)
Acrylonitrile Butadiene Styrene (ABS)
Ethylene vinyl alcohol (EVOH)
Polyamide (PA)
Based on the end use, thermoforming films market is be segmented into:
Flexible packaging
Rigid packaging
Based on the end use industry, thermoforming films market is be segmented into:
