Thermoform Packaging Market Scenario
Thermoforming is a manufacturing process where thermoplastic sheets are heated to a temperature where it can be easily bent to form the desired product. This type of packaging is largely used for food packing to maintain its freshness and increase the shelf life of the product. Various retailers and food processors prefer thermoformed containers for packaging over other packaging techniques. According to the MRFR analysis, the market for thermoform packaging is growing at a rapid pace and is expected to gain prominence over the forecast period. The global thermoform packaging market is estimated to grow at a CAGR of 5.72% during the estimated period (2018-2024).
The thermoform packaging market is driven by several factors such as increased consumption of processed and packed foods & beverages. This packaging is light, flexible, odor-free, and moisture-free. Therefore, it is more preferred over other packaged product such as glass. Due to these properties, the demand for thermoform packaging is likely to grow in the near future. Moreover, environmental advantages of thermoform packaging are also stimulating the growth of the market. This packaging includes low raw material consumption, low carbon emission, and relatively low waste produced as compared to other packaging formats. However, availability of another alternative packaging may hinder the growth of the market.