Increasing use of industrial thermoform packaging materials market in food and beverages industry not only plays eminent role in maintain the freshness but also offers protection during transportation and shipment.
Ocean View, DE -- (SBWIRE) -- 06/25/2020 -- A mammoth, billion-dollar industry, the global industrial thermoform packaging materials market sector has progressed significantly over the years with novel developments in the field. To be precise, the advent of novel packaging alternatives designed with a consumer-centric approach, has paved way for thermoform packaging- a packaging substitute which is considered to be ideal for vivid food and beverages and pharmaceutical components.
Realized by heating closed cell foams, rigid plastics, and other specialty materials, at a specific temperature, formed to a particular shape in mold, and clipped to create a usable product, industrial thermoform packaging materials market are extremely durable, light weight, cost effective, and recyclable. These properties have indeed urged several brand owners and other industries to fuel product adoption. In this context, it is needless to mention that industrial thermoform packaging has found major deployment in the food and beverages, pharmaceuticals, and manufacturing industries.
The product's 'clear visibility' parameter in tandem with heightened need for packed products has allowed it to be extensively used in food and beverages packaging applications. Visual clarity plays an important role in motivating people to buy groceries and food, while also retaining the nutritional value of the packed content. For instance, a dairy brand in Brazil opted for transparent PET bottles from Amcor for their products. The brand feels that use of such bottles resonates with consumer demand for freshness and abiding by this, Amcor offers screw caps instead of foil seal barrier.
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The key players in the industrial thermoform packaging material market are Amcor, Placon, Bemis Company, Display Pack, Westrock Company, D Smith, E.I. Du Pont Nemours, Pactiv, and Sonoco Products. Amcor Limited is adopting mergers and acquisition strategy to gain the share in the industrial thermoform packaging material market. It has recently acquired Plastic moulders limited, a Toronto based moulding company.
Owing to this, industrial thermoform packaging industry majors have been tapping the expanding food and beverages applications via aligning their interests in mergers and acquisitions, new product launches, facility expansion, and others.
One such company, Charpak- market leader in thermoformed containers and other thermoformed packaging solutions- in 2019, announced the launch of a revolutionary innovation; Twist LoC. These are rPET thermoformed containers which are used across frozen and chilled sectors, food and non-food products, and ambient sectors. According to official sources, this novel solution offers customers with twists locks and closed, making the thermoformed containers highly reusable, unlike other single-use plastic ones.
Above that, sustainable food packaging trend has also been massively influencing the growth of thermoformed containers and packaging on a large scale.
Elaborating further, the demand for thermoform packaging is also gaining widespread traction in the pharmaceutical industry ascribing to the product's provision of cleanliness and compartmentalization required by medical products to safely hold parts in place while also providing external protection.
Blister pack, an innate product type of thermoform packaging, is commonly being used in packaging of pharmaceutical tablets and capsules to deliver barrier protection for shelf life of the product along with providing degree of tamper resistance. Besides, these products are also been used in the physician sample drug and over the counter products. Industry giants, operating in industrial thermoform packaging realm have been demonstrating intense keenness on moving a step ahead in the overall business, engaging themselves in numerous tactics.
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A vital testament for the same can be offered by a recent acquisition of Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD (TEQ) by Sonoco- one of the diversified global packaging companies. The financial terms of the deal have been market to be around USD 187 million, in cash. It has been claimed that the acquisition would allow Sonoco to move further with its healthcare business with addition of TEQ product line.
In terms of the regional landscape, both North America and Asia Pacific are likely to emerge as major revenue pockets for the industry in the upcoming years. The growth in North America region comes from the robust presence of thermoform packaging company and a huge consumer base that are inclined towards the adoption of such packaging for both F&B and medical products. Meanwhile, across the APAC region, growth of thermoform packaging can be credited to growing urbanization, penetration of e-commerce, and enhanced production packaging. The region is thus anticipated to emerge as an investment hotbed for the industry players.
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