#thermoformed

The competitive landscape of the global market for thermoformed shallow trays features a highly fragmented competitive landscape, with the leading five vendors collectively holding only about 15% of the overall revenue of the market in 2016, observes Transparency Market Research (TMR) in a recent report. These top vendors, including Pactiv LLC, Anchor Packaging, Inc., and Huhtamaki Oyj operate amid intense competition from a large number of regional, domestic, and international players in key regional markets.

To ensure sustainable returns, companies need to focus on forging long-term partnerships and expand product portfolios to match the extensive and varying needs from customers. An instance of adoption of the long-term strategy is the company Pactiv LLC. The company gathers around 70% of its revenue from top 12 consumers to whom the company supplies on agreements of around 2-3 years. In December 2016, the company invested around US$14 mn towards the expansion of its manufacturing and warehousing facility to meet the vast rise in demand from the food service industry.

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North America to Remain Top Contributor of Revenue to Global Market

On the basis of the type of material used to manufacture thermoformed shallow trays, the plastic segment dominates, accounting for over 95% of the overall market in 2016. Plastics are expected to remain the most preferred material for manufacturing thermoformed shallow trays over the forecast period as well, with the segment of paper-based laminates to further witness a loss in its already meagre share in the global market over the forecast period.

In terms of geography, North America is presently the leading contributor of revenue to the global market and is expected to retain dominance over the report’s forecast period as well. The North America market for thermoformed shallow trays will chiefly benefit from the strong manufacturing capabilities of thin gauge thermoformers in the region.  The region is expected to exhibit a 5.3% CAGR over the report’s forecast period. The market in APAC, which presently holds the second leading share in the global market, is expected to lead in terms of growth rate over the forecast period. The burgeoning food and beverages industry in the region will provide thrust to the market for thermoformed shallow trays.

Cost and Lead Time Benefits over Injection Molding Compel Manufacturers to Adopt Thermoforming

Some of the key factors driving the global market for thermoformed shallow trays are the vast cost and time benefits offered by the thermoforming technology over the conventional injection molding technology, the vast rise in use of thermoformed shallow trays in bakery applications, and the ease of customization provided by thermoformed shallow trays. It has been observed that the tooling cost incurred in thermoforming is nearly 15-45% cheaper than tooling in the process of injection molding. Furthermore, lead times in the thermoforming process are 2-3 time shorter than in the process of injection molding.

Moreover, the market will also significantly benefit from the rising adoption of thermoformed packaging as the key packaging solution in the burgeoning food industry and rising scope of applications in the pharmaceutical industry. However, certain factors, such as the restricted scope of use of thermoformed shallow trays for the packaging of liquids and heavy components with complex shapes. The limited capability of thermoformed trays in the packaging of products with complex shapes is expected to negatively affect their rate of adoption to a notable extent, compelling manufacturers to prefer alternative packaging solutions such as cans, blisters, clamshells, and boxes.

Non-petroleum-based Products to Witness Increased Demand

The increased preference of manufacturers towards non-petroleum-based polymers for thermoformed shallow trays is a key trend observed in the market in the past few years and could be used as an excellent growth opportunity to strengthen positioning in the global market.  Sugarcane-based bio-degradable materials such as poly lactic acid (PLA) have particularly gained importance for their effective properties such as resistance to oil, printing capabilities, compatibility with food products and high visual appeal. Thermoform packaging manufacturers are further exploring non-petroleum based packaging materials to reduce their carbon footprint and adopt environment friendly approach in their business practices.

This review of the global thermoformed shallow trays market is based on a recent market research report published by Transparency Market Research, titled “Thermoformed Shallow Trays Market (Material Type - Plastic (Polyethylene Terephthalate, Poly vinyl chloride, Polypropylene, Polyethylene, and Polystyrene) and Paper-based Laminates; Application Type - Food (Meat, Poultry, and Seafood, Bakery Products, Dairy Products, Snacks, and Food Services), Pharmaceuticals, Cosmetics and Personal Care, Industrial Goods, and Electronics) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2016 - 2024.”

AUG 01, 2019: Thermoforming is a manufacturing process where a plastic sheet is heated to a pliable forming temperature, formed to a specific shape in a mold, and trimmed to create a usable product. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Thermoformed Plastics Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).

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In this report, the global Thermoformed Plastics market is valued at USD XX million in 2019 and is projected to reach USD XX million by the end of 2023, growing at a CAGR of XX% during the period 2019 to 2023.

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The report firstly introduced the Thermoformed Plastics basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.

The major players profiled in this report include:

·         Associated Thermoforming

·         Bardes Plastics

·         Clear Lam Packaging

·         Display Pack

·         Fiber Pad

On the basis of product, this report displays the sales volume, revenue (Million USD), product price, market share and growth rate of each type, primarily split into-

·         General Type

On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate of Thermoformed Plastics for each application, including-

·         Food

·         Pharmaceuticals

Table of Contents

Part I Thermoformed Plastics Industry Overview

Chapter One Thermoformed Plastics Industry Overview

1.1 Thermoformed Plastics Definition

1.2 Thermoformed Plastics Classification Analysis

1.2.1 Thermoformed Plastics Main Classification Analysis

1.2.2 Thermoformed Plastics Main Classification Share Analysis

1.3 Thermoformed Plastics Application Analysis

Chapter Two Thermoformed Plastics Up and Down Stream Industry Analysis

2.1 Upstream Raw Materials Analysis

2.1.1 Proportion of Manufacturing Cost

2.1.2 Manufacturing Cost Structure of Thermoformed Plastics Analysis

2.2 Down Stream Market Analysis

Part II Asia Thermoformed Plastics Industry (The Report Company Including the Below Listed But Not All)

Chapter Three Asia Thermoformed Plastics Market Analysis

3.1 Asia Thermoformed Plastics Product Development History

3.2 Asia Thermoformed Plastics Competitive Landscape Analysis

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