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Increasing Electrical & Electronics Industry and Flourishing Pharmaceutical Sector are driving the Thermoform Packaging Market growth

HYDERABAD, TELANGANA, INDIA, November 9, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Thermoform Packaging Market size is estimated to reach US$61.8 billion by 2027, after growing at a CAGR of 4.5% during the forecast period 2022-2027. Thermoform packaging is a molded product obtained by the thermoforming process, which involves molding plastic such as polycarbonate, polyethylene, polystyrene, polypropylene and polyethylene terephthalate into the desired shape by heating and application of pressure. Thermoform Packaging is often employed in the electrical & electronics industry which is growing. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Thermoform-Packaging-Market-Research-501476

Key takeaways:

This IndustryARC report on the Thermoform Packaging Market highlights the following areas -

1. North America dominates the Thermoform Packaging market, due to high disposable incomes in the regions. Moreover, increasing preference for packaged food and disposable product is also driving the market growth in North America.
2. Thermoforming packaging has several advantages, including lightweight, protection, cost-effectiveness and reusability, which broadens its range of applications in the food and beverage, electronics, personal care, pharmaceutical and automotive sectors.
3. The growth of the electronics industry has been greatly aided by the increasing adoption of e-commerce, which is expected to have a positive effect on Thermoform Packaging's market size expansion in the years to come.

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https://www.industryarc.com/pdfdownload.php?id=501476

Segmental Analysis:

1. The plastic segment held a significant share in the Thermoform Packaging market share in 2021 and is expected to grow at a CAGR of 4.8% during the forecast period 2022-2027 because thermoformed plastic food packs and blister packs are being used more frequently.

2. North America held the largest share in the Thermoform Packaging market share in 2021 up to 33.8%, owing to the bolstering growth of the food & beverage sector in the North America region.

3. The food & beverage segment held a significant share in the Thermoform Packaging market share in 2021 and is projected to grow at a CAGR of 5.2% during the forecast period 2022-2027. The larger share of this segment was attributed to the packaged food industry's extensive use of various products, including trays, containers and clamshells.

Competitive Landscape:

The top 5 players in the Thermoform Packaging Industry are -

1. Agoform GmbH
2. Amcor Plc
3. Anchor Packaging Inc.
4. Berry Global Inc.
5. Blisterpak, Inc.

Click on the following link to buy the Thermoform Packaging Market Report:
https://www.industryarc.com/reports/request-quote?id=501476

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Rigid Plastic Packaging Market
https://www.industryarc.com/Research/Rigid-Plastic-Packaging-Market-Research-505563

B. Blister Packaging Market
https://www.industryarc.com/Report/15180/blister-packaging-market.html

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IndustryARC
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