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Thermoformed Plastic Products For Food & Beverage Industry Market Size, Trends, Shares, Insights And Forecast

Thermoformed Plastic Products For Food & Beverage Industry Market Size, Trends, Shares, Insights And Forecast

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Thermoformed Plastic Products For Food & Beverage Industry Market Size, Trends, Shares, Insights And Forecast

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. THERMOFORMED PLASTIC PRODUCTS FOR FOOD & BEVERAGE INDUSTRY MARKET ANALYSIS 2019-2027 Thermoformed Plastic Products for Food and Beverage Industry Market, By Product Type (Synthetic, Biodegradable), By Application (Packaging, Food Serving Articles, Others (Containers)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. 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. 

  4. 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

  5. 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.

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

  7. 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.

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

  9. 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

  10. 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

  11. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference: https://www.coherentmarketinsights.com/market-insight/thermoformed-plastic-products-for-food-and-beverage-industry-market-3502

  12. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  13. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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