Research Nester released a report titled “Thermoformed Trays Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the thermoformed trays market in terms of market segmentation by product type, material type, packaging type, end user industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Thermoformed trays are manufactured by subjecting plastic sheet or film to suitable temperatures and then molding it to a desirable shape. Due to their properties of damage resilience and rigidity, the thermoformed trays are a preferred choice for packaging processed foods, medical supplies, and others. The global thermoformed trays market is anticipated to record a significant CAGR over the forecast period, i.e., 2021-2029. The market is segmented by packaging type into blister pack, clamshell and others, out of which, the blister pack segment is anticipated to gain a remarkable market share during the forecast period, backed by its wide utilization in the pharmaceutical industry, coupled with the favorable benefits of blister packaging over other packaging types.
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Based on the regional analysis, the thermoformed trays market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the North America thermoformed trays market is projected to gain the largest market share. The growth of the market in the region can be attributed to the growing adoption of advanced technologies by the manufacturers, coupled with the presence of well-established pharmaceutical and food & beverage sectors.
Favorable Benefits of Thermoformed Trays To Boost the Market Growth
The demand for thermoformed trays is high amongst the manufacturer of goods owing to the increasing consumption of different type of goods by the consumers, backed by the increase in spending on consumer electronics, FMCG, retail and others, by the growing middle-class population in the developing countries. As most of these products require flexible plastic packaging for enhanced shelf life and greater brand visibility, hence, manufacturers use thermoformed trays to pack their goods. On the other hand, the thermoformed trays possess numerous benefits which is why it is most widely used for packaging by the good manufacturers. Such factors are anticipated to drive the growth of the global thermoformed trays market during the forecast period.
However, concerns for the availability of new and improved alternative packaging materials, such as poly(methyl methacrylate) (PMMA), is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global thermoformed trays market which includes company profiling of Thermoform Engineered Quality LLC (TEQ), HLP Klearfold, Genpak, LLC, Brentwood Industries, Inc., Pactiv LLC, DS Smith PLC (LON: SMDS), Placon, Amcor plc (NYSE: AMCR), D&W Fine Pack, WestRock Company (NYSE: WRK). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global thermoformed trays market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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