Global Market Study on Thermoformed Plastic Products in Food & Beverages Industry: Packaging to Remain the Dominant Application Segment Through 2024


  • Published On : Oct-2016 |
  • Pages : 135 Pages |
  • Format :

Persistence Market Research analyzes the global F&B thermoformed plastic products market over an eight year period from 2016 to 2024 in a newly published report. The study demonstrates market dynamics and trends across regions that are expected to influence the current status and future prospects of the global F&B thermoformed plastic products market over the forecast period (2016 - 2024). The primary objective of the report is to offer information on market drivers, restraints, trends, opportunities, and value chain analysis; and updates on developments in the global F&B thermoformed plastic products market. The report conducts a quantitative as well as qualitative assessment of the global F&B thermoformed plastic products market across product types, application, and regional market segments.

The report starts with a market overview and provides market definition and analysis of the drivers, restraints, and key trends influencing the market. Impact analysis of key growth drivers based on the weighted average model is included to better equip clients with useful decision-making insights. The subsequent sections analyze the global F&B thermoformed plastic products market by product type, application, and region. For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and a comprehensive forecast made for the period 2017–2024.

The final section of the report presents a competitive landscape of the global F&B thermoformed plastic products market to provide report audiences with a dashboard view of leading market players operating in the global F&B thermoformed plastic products market, along with information on their market performance, SWOT analysis, and key business strategies. Some of the top market players featured in the report include Clear Lam Packaging, Inc., D&W FINE PACK, HUHTAMAKI GROUP, Placon, Anchor Packaging Inc., Berry Plastics Corporation, Reynolds, Silgan Holdings Inc., and Tray-Pak Corporation.

Research methodology

To calculate the market size, the report considers sales of thermoformed plastic products in the F&B industry on a country and regional level, which are then added to reach the global market size. The forecast assesses the total revenue of the global F&B thermoformed plastic products market on the basis of various factors that are expected to affect the market in the short and long term. The data is triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the global F&B thermoformed plastic products market, along with primary interviews of manufacturers and industry experts active across the global F&B thermoformed plastic products market value chain. The report begins by sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape during the forecast period. Given the ever-fluctuating nature of the global economy, the report presents forecasts not only in terms of CAGR, but also analyzes the global F&B thermoformed plastic products market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities in the global F&B thermoformed plastic products market.

The report also analyzes the global F&B thermoformed plastic products market segments in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important to identify the many trends governing the global F&B thermoformed plastic products market. Another key feature of this report is a comprehensive analysis of the global F&B thermoformed plastic products market revenue forecast in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global F&B thermoformed plastic products market. In order to understand key growth segments in terms of growth and performance of the global F&B thermoformed plastic products market, Persistence Market Research has also developed a market attractiveness index to help providers identify real market opportunities in the global F&B thermoformed plastic products market.

Thermoforming is a process of producing plastic products wherein a thermoplastic sheet of a particular size is clamped in place, heated to a softening temperature, and forced against a mold with the help of air, vacuum pressure, or mechanical means. Thermoformed plastic products are mainly used in food and beverages, medical, aerospace and aviation, business machines and equipment, building and construction, mass transit, and automotive industries. These products are divided into two types – synthetic and biodegradable.

Food and beverages (F&B) thermoformed plastic products find application in the packaging of products such as meat, bakery products, takeaway food products, dairy products, beverages, food articles, and others. Owing to advantages such as savings in cost and time, uniformity of end-product, and easy usage, thermoformed plastic products are gaining popularity among end users. The global F&B thermoformed plastic products market is estimated to be valued at US$ 11.2 Bn by the end of 2016, registering a CAGR of 4.2% over the forecast period (2016–2024).

Factors and trends impacting the market

The cost of thermoforming plastic products is nearly 10-15% less as compared to plastic products manufactured from injection molding. In addition, in thermoforming plastics, there is a lot of flexibility and scope to provide a wide range of presentation possibilities that help manufacturers package and brand their products attractively. These are the main reasons leading to an increasing adoption of thermoformed plastic products as compared to traditionally packaged products. In addition, lifestyles are changing globally and due to increased urbanization and a rise in the number of working people, consumers prefer to spend less time in preparing meals and prefer convenience food or pre-prepared meals.

Also, there is an increasing demand for packaged mineral water, packaged milk, and packaged carbonated drinks and fruit juices. There is a noticeable shift in consumer preferences from unpacked food to packed food. This factor is also contributing significantly to the increased usage of thermoformed plastic products. Besides, the growing retail sector in the form of supermarkets, convenience stores, and hypermarkets and growing consumer awareness regarding food safety are also leading to increased adoption and boosting the growth of the global F&B thermoformed plastic products market worldwide.

However, growing concerns about the recycling and disposal of plastic packaging products and increasing environmental concerns have led to governments worldwide enforcing various regulations on the usage and disposal of plastic packaging products. These developments act as a major restraint to the growth of the global F&B thermoformed plastic products market over the forecast period. In addition, during thermoforming, it is difficult to attain precise wall thickness symmetrically over the entire product, thereby affecting the quality of the product adversely. This technical difficulty leads to manufacturers looking for a substitute to thermoformed plastic packaging products, thereby acting as a restraint to the global F&B thermoformed plastic products market.

Segment analysis           

The global F&B thermoformed plastic products market is segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into synthetic and biodegradable segments. The synthetic segment is estimated to account for 86.7% revenue share of the global F&B thermoformed plastic products market by the end of 2016 and is expected to remain the dominant segment during the forecast period. Owing to support from various government and environmental organizations, the biodegradable segment holds futuristic opportunities; however, high prices of biodegradable products is expected to remain a key challenge for the segment’s growth over the forecast period.

By application, the thermoformed plastic products market is segmented into packaging, food serving articles, and others. The packaging segment is estimated to hold more than two-thirds share in the global F&B thermoformed plastic products market by 2016 end. The segment is further sub-segmented into meat packaging, bakery products, takeaway food products, dairy products, and beverages. Among sub-segments, the beverage sub-segment is estimated to account for 34.7% value share by 2016 end.

thermoformed plastic products market

Regional analysis

On the basis of region, the global F&B thermoformed plastic products market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). Europe is estimated to hold 32.1% revenue share of the global thermoformed plastic products market by 2016 end. High demand for convenience food due to a large working population is a key factor boosting demand for these products in Europe. The market in Asia Pacific – accounting for more than one-fourth of the total market share – is expected to witness a CAGR of 5.3% during the forecast period.

Key market players

Key players in the global F&B thermoformed plastic products market include Clear Lam Packaging Inc., D&W FINE PACK, HUHTAMAKI GROUP, Placon, Anchor Packaging Inc., Berry Plastics Corporation, Reynolds, Silgan Holdings Inc., and Tray-Pak Corporation. The global F&B thermoformed plastic products market is characterized by high fragmentation and manufacturers are adopting mergers and acquisitions as a strategy to increase their global presence and market penetration.

Company Profiles

  • Clear Lam Packaging, Inc.
  • D&W FINE PACK
  • HUHTAMAKI GROUP
  • Placon
  • Anchor Packaging, Inc.
  • Berry Plastics Corporation
  • Reynolds
  • Silgan Holdings, Inc.
  • Tray-Pak Corporation
  • Others
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