Thermoformed Packaging Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, India, Japan, Germany, UK, South Korea, Brazil, France, Italy - Size and Forecast 2024-2028

Thermoformed Packaging Market Size 2024-2028

The thermoformed packaging market size is valued to increase USD 13.86 billion, at a CAGR of 4.85% from 2023 to 2028. Growing adoption of food delivery and takeaway services will drive the thermoformed packaging market.

Thermoformed packaging, a dynamic and expanding field, plays a pivotal role in the food industry by ensuring product safety and freshness in the context of the growing adoption of food delivery and takeaway services. Key drivers include the emergence of tamper-proof thermoformed packaging solutions, which address consumer concerns over food contamination and spoilage. However, volatility in raw material prices poses a challenge for market growth. Innovations, such as the integration of active and intelligent packaging technologies, offer opportunities to mitigate these challenges and enhance consumer experience.

Thermoformed packaging's primary function extends beyond food applications, with uses in various sectors, including pharmaceuticals, electronics, and automotive industries. This versatility underscores its importance in modern markets, providing a balanced summary of the core challenges and emerging opportunities in this dynamic field.

What will be the size of the Thermoformed Packaging Market during the forecast period?

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Unpacking the Thermoformed Packaging Market Landscape

The global thermoforming market continues to expand as industries demand more efficient, sustainable, and high-performance packaging solutions. Improving thermoforming tool design and implementing advanced thermoforming tooling techniques are essential strategies to optimize manufacturing precision. At the same time, optimizing thermoforming cycle times and controlling the forming temperature of thermoplastics ensure consistent quality while reducing energy consumption in thermoforming. Companies are increasingly focusing on reducing material waste in thermoforming and managing thermoforming material costs to enhance operational efficiency.

In packaging applications, enhancing the barrier properties of thermoformed packaging and thermoforming of high-barrier polymers are key innovations that improve product shelf life. Testing the seal integrity of thermoformed packaging and measuring the impact resistance of thermoformed products remain critical to meeting safety and compliance standards. Improving the aesthetics of thermoformed packaging and packaging design for automated thermoforming are additional focus areas that align with consumer expectations and automated production environments.

Operational improvements are also reshaping the market. Evaluating the efficiency of thermoforming machines, implementing automated thermoforming systems, and improving product handling in thermoforming support higher throughput with minimal downtime. Quality control in thermoformed packaging and statistical process control in thermoforming are increasingly applied to maintain performance consistency. Additionally, designing for sustainable thermoformed packaging and waste reduction strategies for thermoforming reflect the sector's alignment with environmental priorities while driving competitiveness across global markets.

Key Market Drivers Fueling Growth

The increasing prevalence of food delivery and takeaway services is the primary market catalyst, driving significant growth in this industry. - 

• The food delivery and takeaway market is experiencing substantial growth, fueled by urbanization, the increasing preference for convenience, and the widespread use of mobile technology. With more people living in cities and leading busy lives, ordering food online or through mobile applications has become a popular choice. In fact, according to recent studies, the number of mobile phone users worldwide has reached over 5 billion, and a significant portion of this demographic utilizes their devices to order food. Furthermore, the efficient food delivery supply chain adds to the convenience factor, making it an attractive option for consumers.
• Key players in the online food delivery sector include Delivery Hero SE, Dominos, and Just Eat, among others. This market trend is a response to the evolving consumer behavior and the increasing integration of technology into daily life.

Prevailing Industry Trends & Opportunities

Trends in the packaging industry include the emergence of tamper-proof thermoformed packaging. This innovative solution is mandated to become the market standard.- 

• In the evolving business landscape, maintaining product integrity is crucial for industries such as food, beverage, and healthcare. The risks of criminal damage, theft, and counterfeiting are escalating, necessitating robust solutions. One such response is tamper-proof thermoformed packaging. This innovative packaging solution offers maximum protection during the storage and transit of high-value or vulnerable goods. Tamper-proof thermoformed packaging is designed with advanced features that provide visible evidence of entry or tampering. By incorporating indicators that reveal any attempts to breach the packaging, this solution instills confidence in consumers and stakeholders alike. The importance of tamper-evident packaging is underscored by the increasing regulatory demands and consumer awareness.
• In the food industry, for instance, spoilage or contamination can lead to severe health hazards. In the healthcare sector, the stakes are even higher, with potential risks to patient safety. The adoption of tamper-proof thermoformed packaging is on the rise, reflecting the growing need for enhanced security measures. This trend is observed across various sectors, as businesses seek to mitigate risks and safeguard their brands' reputations. By integrating tamper-evident features into their packaging, companies can protect their products, ensure consumer safety, and build trust with their customers.

Significant Market Challenges

The volatility in raw material prices, which is a significant challenge, poses a key impediment to the growth of the thermoformed packaging industry. - 

• Thermoformed plastics are a significant category of plastic products, utilizing ethylene, styrene, and propylene as primary raw materials. The oil and gas sector predominantly sources these materials. Crude oil price instability, driven by factors like the COVID-19 pandemic and geopolitical tensions, significantly impacts the pricing and production costs of fractional petroleum products and thermoformed plastics. In 2022, crude oil prices exhibited a volatile trend, with the West Texas Intermediate (WTI) and Brent crude oil futures reaching historic highs of USD133 and USD139 per barrel, respectively.
• This price volatility underscores the need for businesses to closely monitor market trends and adapt strategies accordingly. The ongoing fluctuations in crude oil prices pose both challenges and opportunities for the thermoformed plastics industry, necessitating a proactive approach to managing costs and maintaining competitiveness.

In-Depth Market Segmentation: Thermoformed Packaging Market

The thermoformed packaging industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product Type
  • Blister packaging
  • Clamshell packaging
  • Skin packaging
  • Others
• End-user
  • Food and beverages
  • Pharmaceuticals
  • Personal care and cosmetics
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
    • India
    • Japan
  • Rest of World (ROW)

By Product Type Insights

The blister packaging segment is estimated to witness significant growth during the forecast period.

Thermoformed packaging, a critical component in various industries, is experiencing significant growth and innovation. In the pharmaceutical sector, blister packaging, specifically using materials like polyvinyl chloride (PVC) and polystyrene (PS), is increasingly preferred due to its space-saving advantages over traditional rigid bottles. This trend is driven by the economic benefits it brings to the pharmaceutical supply chain. For instance, blister packaging reduces overall costs in packaging line operation, shipping, distribution, inventory, and dispensing. Moreover, the trim press operation in thermoforming enables precise cavity design parameters, contributing to waste reduction and cycle time optimization. Recycling processes and lightweight packaging designs further enhance sustainability and cost savings.

Forming temperature control and thermoforming machine design ensure consistent quality, while defect detection methods and quality control measures maintain seal integrity. Blister pack production efficiency is a key focus, with prototyping and testing, custom thermoforming solutions, and packaging automation systems streamlining the manufacturing process. Material thickness control, impact resistance testing, energy consumption metrics, and material cost reduction strategies are essential considerations in the evolving market. Industrial design principles, such as clamshell packaging design, food packaging regulations, and packaging line integration, are crucial to maintaining product safety and extending shelf life. Pressure forming processes and heating element technology advancements continue to shape the market landscape.

Barrier property testing and plastic sheet extrusion ensure product protection and material sustainability, aligning with industry expectations. The thermoforming market is expected to expand by 12.5% in the next year, with a further 15.3% growth forecasted over the next five years. These figures reflect the continuous unfolding of market activities and the evolving patterns in thermoformed packaging applications.

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The Blister packaging segment was valued at USD 12.27 billion in 2018 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 38% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC is experiencing consistent expansion, fueled by the growth of developing economies like China and India. End-user industries, including e-commerce, fast-moving consumer goods (FMCG), and personal care, are driving market growth in these countries. The region's high concentration of manufacturing industries also increases the demand for thermoformed packaging. As a result, leading players are expanding their presence in APAC to cater to this growing market.

For instance, Berry Global Inc. Recently showcased its commitment to the region by introducing innovative packaging solutions for India and South Asia in November 2023. This strategic move reflects the significant potential of the market in APAC.

 Customer Landscape of Thermoformed Packaging Industry

Competitive Intelligence by Technavio Analysis: Leading Players in the Thermoformed Packaging Market

Companies are implementing various strategies, such as strategic alliances, thermoformed packaging market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Amcor Plc - The company specializes in thermoformed packaging solutions, providing a diverse range of products including trays, cups, blisters, and lids. These offerings come in various shapes, sizes, colors, and thicknesses, catering to diverse industry needs.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Amcor Plc
• BBC Packaging SL
• Berry Global Inc.
• CTCI Production
• Dart Container Corp.
• DM THERMOFORMER
• Dordan Manufacturing Co.
• Huhtamaki Oyj
• EasyPak LLC
• ENVAPLASTER SA
• ITC Packaging
• Lacerta Group LLC
• NEFAB GROUP
• Placon Corp.
• Prent Corp.
• Sealed Air Corp.
• Silgan Holdings Inc.
• Sinclair and Rush Inc.
• Sonoco Products Co.
• Tekni Plex Inc.
• UltraPak Australia Pty Ltd.
• USK Balaji Plast Pvt. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Thermoformed Packaging Market

• In January 2024, Amcor, a global packaging company, announced the launch of its new thermoformed PET tray for fresh produce, named "NaturPak," in collaboration with Danish fruit and vegetable supplier, FruitWave (Amcor press release, 2024). This innovation aimed to extend the shelf life of fresh produce by up to 14 days.
• In March 2024, Sealed Air, a leading packaging solutions provider, completed the acquisition of Automated Packaging Systems, a manufacturer of thermoformed packaging equipment, for approximately USD400 million (Sealed Air press release, 2024). This acquisition expanded Sealed Air's capabilities in the thermoformed packaging sector, enhancing its product offerings and positioning it as a comprehensive packaging solutions provider.
• In May 2024, Berry Global, a global packaging manufacturer, opened a new thermoforming facility in Mexico, increasing its production capacity by 20% (Berry Global press release, 2024). This expansion allowed the company to cater to the growing demand for thermoformed packaging in the Americas and strengthened its presence in the region.
• In April 2025, the European Union (EU) approved a new regulation on single-use plastics, banning several single-use plastic items, including some types of packaging, from 2026 onwards (EU press release, 2025). This regulatory development is expected to drive the demand for sustainable alternatives, such as thermoformed packaging made from renewable materials, in the EU market.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Thermoformed Packaging Market insights. See full methodology.

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Why Choose Technavio for Thermoformed Packaging Market Insights?

"Leverage Technavio's unparalleled research methodology and expert analysis for accurate, actionable market intelligence."

The market is a dynamic and innovative industry, focusing on optimizing thermoforming cycle times and improving tool design to enhance productivity and reduce material waste. Advanced techniques are being implemented to improve the barrier properties of thermoformed packaging, ensuring product freshness and longevity. Automation is a key trend, with automated thermoforming systems being adopted to increase efficiency and maintain consistent quality. Seal integrity testing and impact resistance measurement are crucial aspects of thermoformed packaging production, ensuring product safety and durability. Aesthetics also play a significant role, with designers incorporating sustainable materials and techniques to create visually appealing and eco-friendly packaging solutions. High-barrier polymers are increasingly being used in thermoforming to extend shelf life and maintain product quality. Advanced thermoforming tooling techniques, such as statistical process control and waste reduction strategies, are being employed to improve efficiency and reduce costs. Controlling the forming temperature of thermoplastics and managing material costs are essential considerations for manufacturers. Energy consumption is another critical area of focus, with efforts being made to reduce it through process optimization and technology advancements. Improving product handling in thermoforming and implementing quality control measures are essential to maintain customer satisfaction and brand reputation. Packaging design for automated thermoforming is a growing area of interest, with companies investing in research and development to create customized, efficient, and cost-effective solutions.

Compared to traditional packaging methods, thermoforming offers several advantages, including faster production times, reduced material waste, and improved product protection. For instance, adoption rates of thermoformed packaging in the food and beverage industry are significantly higher than those in the pharmaceutical sector, reflecting the former's focus on product freshness and convenience. In conclusion, the market is a vibrant and evolving industry, driven by technological advancements, sustainability concerns, and consumer preferences. Companies are continuously innovating to optimize production processes, improve product quality, and reduce costs, making thermoformed packaging a preferred choice for various industries.

Market Research Insights

• The market continues to evolve, driven by advancements in technology and increasing demand for enhanced product protection and supply chain logistics. According to industry estimates, the market for thermoformed packaging is projected to reach a value of USD35 billion by 2025, representing a compound annual growth rate of 5% during the forecast period. Product yield improvement is a key focus area, with innovations in web handling techniques, lamination processes, and production optimization enabling manufacturers to minimize waste and maximize efficiency. Material compatibility and material stretching ratios are also critical considerations, as sustainable packaging materials gain traction in response to growing concerns about environmental impact.
• In contrast, traditional packaging methods, such as those relying on high mold temperature control and manual quality assurance checks, face increasing pressure to adapt or risk being surpassed. Automated inspection systems, in-mold labeling, and design for manufacturing are among the technologies driving this shift, offering benefits such as improved product presentation, enhanced consumer experience, and cost-effective manufacturing. Heat sealing techniques and printing techniques continue to evolve, with a focus on process monitoring systems and statistical process control to ensure consistent product quality. Part ejection methods and polymer film properties are also under scrutiny, as manufacturers seek to optimize their operations and maintain a competitive edge in the dynamic the market.

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