Thermoformed Containers Market Accounting for 191 Billion Units by 2019
Monday, February 11, 2019
Press release from the issuing company
Thermoformed container sales surpassed 185 billion units in 2018, equaling a market value worth US$ 15.9 billion. FMI’s new study forecasts that the thermoformed containers market volume sales will grow at 3.7% in 2019. The projected growth of the thermoformed containers market can be attributed to,
· Developments in thermoforming container manufacturing technology, particularly the implementation of 3D printing tools
· Initiatives of manufacturers as well as national governments towards recycling of thermoforming materials
· Introduction of easily recyclable, more effective and application-specific thermoforming containers
“As an efficient, durable and safer mode of packaging, thermoformed containers have penetrated in a wide range of applications ranging from consumer goods to medical packaging. With the advent of 3D printing tools, manufacturing capacities of thermoforming are set to expand in the future. And on the back of increased efforts in recycling, thermoformed containers are likely to observe steady growth prospects in the coming years wherein volume sales are expected to reach 191 billion units in 2019, totaling revenues worth US$ 16.6 billion,” says FMI.
Thermoformed Trays and Lids Segment Lucrative, Blisters are Top Selling
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Increased use of blister packaging has led manufacturers to introduce various innovations in the form of enhanced protective features, production and technology integration and sustainability. In particular, pharmaceutical packaging manufacturers are leveraging these innovations in the blister packaging to meet the evolving expectations of stakeholders while maintaining a good profit margin.
Thermoformed trays and lids are highly embraced by end-users owing to their versatility in design manufacturing and customization for brand marketing. Also, efficient sealable feature combined with effective resealing extends the application scope of thermoformed trays and lids across end-user industries ranging from food to pharma.
Over 3 in 10 Thermoformed Containers Sold in 2018 were of Polyenthylene
Polyethylene fits well in the packaging industry’s trending material features such as light-weight and strength. High density polyethylene (HDPE) is one of the highly dependable material among different polymers used across thermoforming container applications. Along with rigidity, polyethylene provides resistance to stains, odors and moisture- characteristics that are highly embraced across industrial applications.
Well aware of polyethylene’s popularity, manufacturers provide a number of options with respect to shape, color, size and thickness, implying its widespread adoption.
4 in 10 Thermoformed Containers Sold to Food and Beverage Industry in 2018
Sales in the pharmaceutical industry remained the second largest, accounting for 3 in 10 thermoformed containers’ sales in 2018. Blisters are the highly embraced packaging products, especially for medicines whose sales have increased exponentially over the past few years.
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Thermoformed Containers Sales Spearheaded by APEJ
The FMI report tracks the thermoformed containers market for the period 2019-2027. According to the report, the thermoformed containers market is projected to grow at 4% volume CAGR through 2027.
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