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Thermoformed Plastic Products for Food and Beverage Industry Market

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Thermoformed Plastic Products for Food and Beverage Industry Market

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

  2. 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.                                       

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

  4. 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 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.    consumption   of   beverages   around   the       globe   is   demanding                                                     Figure 2. Global Thermoformed Plastic Products for Food & Beverage  Industry Market – Opportunity Analysis    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,                                              

  5. 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    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.                                 

  6. Figure 4. Global Thermoformed Plastic Products for Food & Beverage  Industry Market – Value Chain Analysis    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                                    1. Request Sample Report 2. Download PDF Brochure 3. Request Customization 4. Talk to Analyst Reference https://www.coherentmarketinsights.com/market-insight/thermoformed-plastic-products-for-food- and-beverage-industry-market-3502

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