Global Rigid Thermoform Plastic Packaging Market Size Likely to Expand at a CAGR of 7.1% By 2033

As per the current market research conducted by CMI Team, the global Rigid Thermoform Plastic Packaging Market size is expected to record a CAGR of 7.1% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 65.5 Billion. By 2033, the valuation is anticipated to reach USD 121.5 Billion.

Rigid Thermoform Plastic Packaging Market: Growth Factors and Dynamics

• Increasing Demand for Packaged Foods: The growing consumption of packaged and convenience foods is a significant driver for the rigid thermoform plastic packaging market. Consumers’ busy lifestyles and the rise of ready-to-eat meals, snacks, and on-the-go food products necessitate durable and safe packaging solutions, boosting the demand for thermoformed plastic packaging.

• Advancements in Thermoforming Technology: Technological advancements in thermoforming processes have led to improved efficiency, cost-effectiveness, and versatility in packaging designs. Innovations such as enhanced barrier properties, lightweight materials, and the ability to form complex shapes have expanded the application scope of rigid thermoform plastic packaging across various industries.

• Sustainability and Environmental Concerns: The increasing awareness of environmental sustainability is driving the demand for eco-friendly and recyclable packaging materials. Rigid thermoform plastic packaging made from recyclable plastics like PET and innovations in bio-based plastics are gaining traction. Companies are also focusing on reducing their carbon footprint and enhancing the recyclability of their packaging solutions.

• Growth in E-commerce and Retail Sector: The expansion of the e-commerce and retail sectors has significantly boosted the need for effective packaging solutions that ensure product safety during transit. Rigid thermoform plastic packaging provides excellent protection, tamper-evidence, and aesthetic appeal, making it a preferred choice for online retailers and consumers alike.

• Healthcare and Pharmaceutical Industry Expansion: The healthcare and pharmaceutical industries’ growth necessitates robust and hygienic packaging solutions. Rigid thermoform plastic packaging is extensively used for medical devices, diagnostic kits, and pharmaceutical products due to its superior protection, visibility, and ease of sterilization. The COVID-19 pandemic has further accelerated the demand for secure and hygienic packaging in this sector.

• Consumer Preferences for Transparency and Convenience: Consumers are increasingly preferring packaging that allows product visibility and convenience. Rigid thermoform plastic packaging offers excellent transparency, enabling consumers to view the product before purchase. Additionally, features such as resealability, easy opening, and portability cater to modern consumer preferences, driving market growth.

Rigid Thermoform Plastic Packaging Market: Partnership and Acquisitions

• In 2022, Ingredients collaborated with Berry Global to produce 100% recycled plastic bottles, including caps, for their haircare products. Berry Global manufactures these bottles using post-consumer recycled (PCR) plastic, specifically high-density polyethylene (HDPE), at a facility in Winchester, Virginia.

• In 2021, Amcor launched AmPrima PE Plus, the first high-barrier, recycle-ready liquid pouch packaging solution. This innovation offers a sustainable alternative for complex packaging systems, featuring durable hermetic edge seals suitable for demanding manufacturing, distribution, and usage conditions.

Report Scope

Rigid Thermoform Plastic Packaging Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Rigid Thermoform Plastic Packaging Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chains: The COVID-19 pandemic caused significant disruptions in global supply chains. Lockdowns and restrictions affected the production and transportation of raw materials and finished products. This led to delays, increased costs, and reduced availability of packaging materials, including rigid thermoform plastics. The supply chain disruptions highlighted the vulnerabilities in the global manufacturing and distribution networks.

• Increased Demand for Healthcare and Food Packaging: Despite the challenges, the pandemic also led to a surge in demand for specific types of packaging, particularly in the healthcare and food sectors. There was an increased need for packaging solutions for medical devices, pharmaceuticals, and personal protective equipment (PPE). Additionally, with more people cooking and eating at home, the demand for packaged food products and their associated packaging materials saw a significant uptick.

• Diversification of Supply Chains: To mitigate the risk of future disruptions, companies are diversifying their supply chains. This includes sourcing raw materials from multiple suppliers and regions, investing in local production capabilities, and creating more resilient and flexible supply chain networks. Such strategies help ensure a steady supply of materials and reduce dependence on any single source.

• Technological Advancements and Automation: Investing in advanced technologies and automation has become a priority to enhance production efficiency and reduce reliance on manual labor. Automation helps maintain production continuity even during disruptions and ensures high-quality output. Technologies such as smart manufacturing, IoT, and AI are being integrated to optimize processes and improve supply chain management.

• Focus on Sustainability: The pandemic has accelerated the focus on sustainability in packaging. Companies are increasingly adopting eco-friendly materials and practices to meet consumer demand and regulatory requirements. Innovations in recyclable and biodegradable plastics, along with efforts to reduce plastic waste, are becoming central to the industry’s recovery strategy.

• Increased Investment in Healthcare Packaging: Given the heightened awareness of healthcare needs, there is ongoing investment in packaging solutions tailored for the healthcare and pharmaceutical sectors. This includes the development of sterile, tamper-evident, and secure packaging for medical devices, pharmaceuticals, and vaccines, ensuring they meet stringent safety and regulatory standards.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Rigid Thermoform Plastic Packaging Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Rigid Thermoform Plastic Packaging Market:

• United States Postal Service (USPS)
• FedEx Corporation
• United Parcel Service (UPS)
• Deutsche Post DHL Group
• Japan Post Holdings Co. Ltd.
• China Post Group Corporation
• Royal Mail plc
• La Poste Group
• Canada Post Corporation
• Australia Post
• Singapore Post Limited
• Emirates Post Group
• India Post
• Correos (Spain)
• Poste Italiane S.p.A.
• Others

The Rigid Thermoform Plastic Packaging Market is segmented as follows:

By Material

• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Polystyrene (PS)
• Polyvinyl Chloride (PVC)
• Polyethylene (PE)
• Acrylonitrile Butadiene Styrene (ABS)
• Others

By Product

• Blister Packs
• Clamshells
• Trays and Lids
• Cups and Containers
• Plates
• Others

By Application

• Food and Beverages
• Pharmaceuticals
• Personal Care and Cosmetics
• Electronics
• Automotive
• Consumer Goods
• Industrial Goods
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America