Global Thermoform Packaging Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of around 6.1% during a forecast period.
Global Thermoform Packaging Market Thermoforming refers to the process of manufacturing plastic sheets by heat to form specific shapes in molds, thereby making them usable. The manufacturing process includes stretching of a film or sheet to achieve the desired shape. Some of the common thermoformed items comprise blisters, trays, clamshells, and lids. Growth in consumer preference towards packaged and fresh food is expected to increase the growth of the thermoform packaging market globally. Also, macro-economic factors such as changes in lifestyle and improvement in the standard of living are likely to boost demand for thermoform packaging during the forecast period. Additionally, emerging trends such as advancements in thermoform manufacturing technology, shift toward lightweight packaging, and increase in use of polylactic acid (PLA) films in thermoforming are expected to proposal lucrative opportunities for the global thermoform packaging market during the forecast period. However, stringent government regulations that need to be complied with and limitations in the packaging of heavy items are two restraints constraining market growth. The report covers all the trends and technologies playing a major role in the growth of the thermoform packaging market during the forecast period. It highlights the drivers, restraints, and opportunities expected to influence market growth during 2019-2026. Food & beverage segment is expected to grow at the highest XX% CAGR during the forecast period. The springiness of thermoform packaging attached to the maintenance of flavor and aroma of food & beverages has increased demand for thermoform packaging and trend is expected to continue over the forecast period. Besides, growing consumer preference for fresh and packaged food has had a positive impact on the market. Plastic segment is expected to account for the largest XX% market share by 2026. Thermoformed plastics in the pharmaceuticals industry are used to manufacture accessories, diagnostic systems, and medical