The global thermoform packaging market size was valued at USD 48.50 billion in 2022. The market is anticipated to expandfrom USD 51.96 billion in 2023 to USD88.50 billion by 2030,exhibiting a CAGR of 7.91% over the estimated period.
Thermoform packagingis a molded product. It is shaped through the process of heating a plastic
sheet until it becomes flexible and takes on the desired shape. The market is
likely to gain traction over the forecast period owing to the growing
utilization of thermoform packaging products in the food industry as well as
the pharmaceutical industry.
Fortune Business Insights™ provides this information in its research report, titled “ThermoformPackaging Market,2023-2030”.
COVID-19 Impact:
RisingFood-Delivery and Increasing Demand for Vaccines Led Market Expansion
TheCOVID-19 pandemic had a profound impact on the growth of thermoform packaging. The initial phase of thepandemic, characterized by strict lockdowns and business closures, led to
disruption in the supply chain. This disruption affected the availability of raw
materials, which made it difficult for the manufacturers to maintain their
production levels. However, the rising need for vaccines and a surge in food-delivery sales duringthe pandemic contributed significantly to the expansion of the thermoform
packaging market worldwide.
The global thermoform packaging market size was valued at USD 48.50 billion in 2022. The market is anticipated to expandfrom USD 51.96 billion in 2023 to USD88.50 billion by 2030,exhibiting a CAGR of 7.91% over the estimated period.
Thermoform packagingis a molded product. It is shaped through the process of heating a plastic
sheet until it becomes flexible and takes on the desired shape. The market is
likely to gain traction over the forecast period owing to the growing
utilization of thermoform packaging products in the food industry as well as
the pharmaceutical industry.
Fortune Business Insights™ provides this information in its research report, titled “ThermoformPackaging Market,2023-2030”.
COVID-19 Impact:
RisingFood-Delivery and Increasing Demand for Vaccines Led Market Expansion
TheCOVID-19 pandemic had a profound impact on the growth of thermoform packaging. The initial phase of thepandemic, characterized by strict lockdowns and business closures, led to
disruption in the supply chain. This disruption affected the availability of raw
materials, which made it difficult for the manufacturers to maintain their
production levels. However, the rising need for vaccines and a surge in food-delivery sales duringthe pandemic contributed significantly to the expansion of the thermoform
packaging market worldwide.
