Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Thermoformed Plastic Products for Food & Beverage Industry Market 2017–2027

Food & beverage (F&B) industry thermoformed plastic products are widely used in the packaging of food products such as bakery, meat, processed food, beverage, and dairy food products. Thermoformed Plastic Products helps to save cost and time and uniformity of end-products without compromising on quality. Thermoformed Plastic Products offer lots of flexibility and durability which enable easy transportation of packaged food products. Moreover, Thermoformed Plastic Products can be molded in any shapes after heating to adequate temperature. These products increase the shelf-life of food products and prevent the contamination so that food doesn't get perish.

The global thermoformed plastic products for food & beverage industry market is projected to surpass US$ 17.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.3% during the forecast period (2019 to 2027).

Drivers

Rapidly growing retail sector around the globe, especially in the Asia Pacific region, is projected to serve as a major driving factor to the market growth food & beverage (F&B) industry thermoformed plastic products. According to the India Brand Equity Foundation, retail the industry reached US$ 950 billion in 2018 at CAGR of 13% and expected to reach US$ 1.1 trillion by 2020 and accounts for over 10% of the country’s Gross Domestic Product (GDP). Therefore, expanding retail sector is projected to foster the market growth.

Expanding food and beverage industry in the Asia Pacific region expected to foster the market growth of food & beverage (F&B) industry thermoformed plastic products over the forecast period. According to the India Brand Equity Foundation, the Indian food, and grocery the market is the world’s sixth-largest, with retail contributing 70% of the sales. The Indian food processing industry accounts for 32% of the country’s total food market. Therefore, expanding food industry is propelling the market growth. 

Geographically, Europe dominated the global thermoformed plastic products for food & beverage industry market in 2018, reporting 32% market share in terms of revenue, followed by Asia-Pacific and North America, respectively.

Figure 1. Global Thermoformed Plastic Products for Food & Beverage Industry Market, Revenue Share (%), By Region, 2018

Thermoformed Plastic Products for Food & Beverage Industry  | Coherent Market Insights

Market Restraints

Technical issues during the production of thermoformed plastic packaging products in specific applications is expected to hinder the market growth. During thermoforming, it is difficult to attain precise wall thickness along with symmetrical thickness over the entire a product which results in less weight-bearing capacity and durability of thermoformed plastic products. Precise thickness is required all over the product in some applications. This factor is expected to restrict the market growth of thermoformed plastic packaging products.

Various manufacturer are promoting alternative packaging material such as paper in order to minimize the usage of plastic packaging waste due to environmental impact will affect the market growth to some extent. For instance, in May 2019, Fischer Paper Products launched its TruKraft line, a new line of sustainable products subjected to a growing trend in food service and on-the-go eating. Fischer TruKraft is a new solution for consumers demanding sustainable options for food packaging. Biodegradable and commercially compostable, TruKraft products come in a variety of sizes designed for food items such as sandwiches, pastries, bread, and French fries.

Market Opportunities

The growing production of plastic around the globe is expected to immense growth opportunity to the market of thermoformed plastic packaging forecast period. According to the Euractiv, at a global level, plastic production is increasing. With 359 million tons placed on the market in 2018, the sector recorded a 3.2% increase compared to 2017. With regards to polymers, the most common plastics are polyethylene or PE (27%), thermosetting plastics (21%), polypropylene (19%) and polyvinyl chloride or PVC (13%).

Growing consumption of beverages around the globe is demanding thermoformed plastic packaging for protection during transportation is expected to foster market growth. This packaging covers plastic bottles and pouches for beers, coffee, tea, and energy drinks. For instance, in June 2017, Amcor expanded its portfolio of dairy, aseptic, and high-pressure processing (HPP) packaging with the launch of a new collection of crystal-clear polyethylene terephthalate (PET) stock bottles and preforms.

Figure 2. Global Thermoformed Plastic Products for Food & Beverage Industry Market – Opportunity Analysis

Thermoformed Plastic Products for Food & Beverage Industry  | Coherent Market Insights

Market Trends

An increasing number of partnerships among major players for recycling plastic and to expand their presence in the market is expected to augment the market growth of thermoformed plastic packaging. For instance, in November 2019, Vernon, California-based rPlanet Earth, has partnered with Green Impact Plastics to jointly develop and manage the purchase of postconsumer thermoform bales from California and other southern states.

Growing focus of manufacturer to increase investment in order to meet the rising demand for plastic around the globe and to promote sustainability. For instance, in January 2020, Nestle is planning to invest up to two billion Swiss francs ($2.07bn) to source more recycled plastics for packaging its products and reduce its use of new plastics by a third by the year 2025.

Figure 3. Global Thermoformed Plastic Products for Food & Beverage Industry Market, Revenue Share (%), By Application, in 2018

Thermoformed Plastic Products for Food & Beverage Industry  | Coherent Market Insights

On the basis of application, in 2018, packaging accounted the largest market share of 74% in terms of revenue, followed by food service articles and others, respectively.

Figure 4. Global Thermoformed Plastic Products for Food & Beverage Industry Market – Value Chain Analysis

Thermoformed Plastic Products for Food & Beverage Industry  | Coherent Market Insights

Competitive Section

Key players active in the thermoformed plastic products for food & beverage industry market are Clear Lam Packaging, Inc., D&W Fine Pack, Huhtamaki, Placon, Anchor Packaging, Inc., Berry Plastics Corporation, Reynolds, Silgan Holdings, Inc., and Tray-Pak Corporation

Few Recent Developments

Clear Lam Packaging, Inc.

  • In June 2017, Sonoco, one of the largest diversified global packaging companies, today announced it has completed the acquisition of Clear Lam Packaging, Inc., a family-held developer, and manufacturer of flexible and forming

Tray-Pak Corporation 

  • In September 2016, Tray-Pak Corporation developed a new customized thermoformed containers, with features such as superior clarity and high-temperature performance

Thermoforming process involves molding of a specific sized thermoplastic sheet with the help of external pressure applied by vacuum, air or mechanical means for production of plastic products. The thermoplastic sheet is softened to a particular extent by heating and clamping process. These plastic products formed by thermoforming are widely used in different industries such as food & beverages, automobile, construction, aviation & aerospace and medical industry.

Market Dynamics

The global thermoformed plastic products for food & beverage industry market has witness a growth in recent few years, owing to its rising demand of packaged fluids such as mineral water, fruit juices milk, and carbonated drinks. Consumers are now preferring packed products over unpacked products owing to rise in awareness of health and hygiene. This scenario is expected to foster the market growth during the forecast period.

On addition to this, the companies involved in production of plastic packaging products are encouraging the use of thermoformed plastic as they provide a low cost alternative to the conventionally used plastic which is formed by the procures of mechanical extrusion. Moreover it also provides more scope to the companies for package their products in more aesthetically enhanced presentation. These factors are expected to fuel the growth of global thermoformed plastic products for food & beverage industry market.

Key features of the study:

  • This report provides in-depth analysis of global thermoformed plastic products for food & beverage industry market size (US$ Billion and Thousand Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global thermoformed plastic products for food & beverage industry market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes Clear Lam Packaging, Inc., D&W Fine Pack, Huhtamaki, Placon, Anchor Packaging, Inc., Berry Plastics Corporation, Reynolds, Silgan Holdings, Inc., and Tray-Pak Corporation
  • Insights from this report would allow marketers and the management authorities of companies to make inMaterial Typeed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global thermoformed plastic products for food & beverage industry market report caters to various stakeholders in this industry including investors, suppliers, global thermoformed plastic products for food & beverage industry manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global thermoformed plastic products for food & beverage industry market

Detailed Segmentation:

  • Global Thermoformed Plastic Products For Food & Beverage Industry Market, By Product Type:
    • Synthetic
    • Biodegradable
  • Global Thermoformed plastic products for food & beverage industry Market, By Application:
    • Packaging
    • Food Serving Articles 
    • Others (Containers)
  • Global Thermoformed Plastic Products For Food & Beverage Industry Market, By Region:
    • North America
      • U.S.
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Canada
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
    • Latin America
      • Brazil
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Mexico
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Rest of Latin America
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
    • Europe
      • Nordic
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • U.K.
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Italy
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Poland
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Russia
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Ukraine
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Rest of Europe
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
    • Asia Pacific
      • China
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • India
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Japan
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Rest of Asia Pacific
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
    • Middle East & Africa
      • GCC
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Israel
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Africa
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
      • Rest of Middle East & Africa
        • By Product Type
          • Synthetic
          • Biodegradable
        • By Application
          • Packaging
          • Food Serving Articles 
          • Others (Containers)
  • Company Profiles
    • Clear Lam Packaging, Inc. *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • D&W Fine Pack
    • Huhtamaki Group
    • Placon
    • Anchor Packaging, Inc.
    • Berry Plastics Corporation
    • Reynolds
    • Silgan Holdings, Inc.
    • Tray-Pak Corporation

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Thermoformed Plastic Products for Food & Beverage Industry Market, By Product Type, 2017 - 2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Synthetic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion)
    • Biodegradable
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion)
  5. Global Thermoformed Plastic Products for Food & Beverage Industry Market, By Application, 2017 - 2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Packaging
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion)
    • Food Serving Articles
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion)
    • Others (Containers)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion)
  6. Global Thermoformed Plastic Products for Food & Beverage Industry Market, By Region, 2017- 2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Rest of Latin America
          • Sub-region/Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Norway
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Nordic
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Italy                                                  
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Poland
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Russia
          • Sub-region/Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Ukraine
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Rest of Europe
          • Sub-region/Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Rest of Asia Pacific
          • Sub-region/Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2019 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Israel
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
        • Rest of Middle East & Africa
          • Sub-region/Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Billion)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion)
  7. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Clear Lam Packaging, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • D&W Fine Pack
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Huhtamaki Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Placon
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Anchor Packaging, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Berry Plastics Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Reynolds
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Silgan Holdings, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Tray-Pak Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "Global Thermoformed Plastic Products for Food & Beverage Industry Market” – global forecast to 2027

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