The US thermoformed plastic packaging market demand was 6,564.6 kilo tons in 2017. Low cost and high efficiency of thermoformed plastic products as compared to plastic packaging are expected to drive the growth of the U.S. thermoformed plastic packaging over the projected period. Moreover, the flexibility and versatility of thermoforming products allow manufacturers to incorporate custom packaging design to increase brand awareness and product visibility.

                    US Thermoformed Plastic Packaging Market Volume, 2015-2025 (Kilo Tons)

Tamper resistant, durable, and resilience associated with thermoforming packaging offers a strong seal, and increased product shelf life. This, in turn, is expected to promote raw material manufacturers to increase their production capacity to cater to the growing industry demand. In addition, stringent government regulations regarding the harmful effects of plastic packaging manufacturing and disposal on human health and environment are expected to drive the growth of the US thermoformed plastic packaging market reach over the coming years.

Quick production time by virtue of injection molding, less labor cost, and nearly 15% less cost of thermoforming plastic products as compared to other plastic packaging is projected to attract manufacturers to enter into the market in order to fulfill end-user industries requirement. Over the past few years, consumer buying behavior has shifted towards eco-friendly packaging trends. Increased consumer inclination towards brand associated with positive environmental and social impact is expected to increase the size of the of the U.S. thermoformed plastic packaging market over the forecast period from 2018 to 2025.

       US Thermoformed Plastic Packaging Market Volume Share, By Material Type, 2017 (%)

Inexpensive, and chemical resistance polyethylene (PE) accounted for 30% of the U.S. thermoformed plastic packaging market share (both volume and revenue) in 2017. Superior barrier properties and custom engineering associated with polyethylene packaging make it superior to other packaging materials. High clarity, high impact resistance, good chemical resistance, food contact safety, and good moisture barrier make polyethylene terephthalate (PET) packaging ideal for the food & beverage industry. Increased sales of products such as baked goods containers, bottled water, ketchup, jars, frozen foods, and cosmetics are expected to drive the consumption of PET, with a projected volume CAGR of 5.6% over the projected period.

The US thermoformed plastic packaging market for food & beverage application accounted for more than 50% of the volume & revenue share in 2017. Presence of well-established food & beverage manufacturers such as PepsiCo, Tyson Foods, Nestlé, Coca-Cola, Anheuser-Busch InBev, ConAgra Foods, and Smithfield Foods is expected to encourage thermoforming packaging manufacturers to expand their product portfolio to cater to the buyer’s demand. The trend towards lightweight packaging in the healthcare, food & beverage, and consumer electronics sector is expected to provide a potential opportunity for the further development of the U.S. thermoformed plastic packaging market. Developed healthcare industry followed by technological upgrades of medical devices has increased awareness regarding reliable packaging materials. Uniform sealing and durability of thermoformed plastic packaging has increased its adoption rate in the medical industry. These factors are expected to contribute to the growth of the U.S. thermoformed plastic packaging industry over the next seven years.

Over the past few years, adoption of thermoformed packaging in the consumer electronics industry has increased. Protection of sensitive electronic components and consumer products is expected to attract leading electronic brands such as Sony, Samsung, Apple, LG, and Philips to look for efficient thermoformed plastic packaging. Moreover, advancement of the semiconductor and computer hardware industry is expected to provide a potential opportunity for the U.S. thermoformed plastic manufacturers.

The US thermoformed plastic packaging market is fragmented in nature as a large number of manufacturers are operating in this space. Some key manufacturers include Anchor Packaging Inc., Pactiv, Fabri-Kal, Sonoco Products Company, Placon, Genpak, LLC, D&W Fine Pack, and Dart Container Corporation.

Manufacturers operating in the US thermoformed plastic packaging industry are adopting M&A strategies to strengthen their position in a competitive environment. For instance, in March 2017, Sunoco, a U.S.-based multinational packaging manufacturer, acquired Peninsula Packaging Company, specialized in thermoformed packaging in order to increase their market share in the food & beverage industry. In addition, in August 2018, a private investment firm, Graham Partners, acquired Nuconic Packaging to invest in the US thermoformed plastic packaging.

Key segments of the US thermoformed plastic packaging market

Material Type Overview, 2015-2025 (Kilo Tons) (USD Million)

• Polypropylene (PP)
• Polyethylene (PE)
• Acrylonitrile butadiene styrene (ABS)
• Polyvinyl chloride (PVC)
• Polyethylene terephthalate (PET)
• Polystyrene (PS)
• Others

Application Overview, 2015-2025 (Kilo Tons) (USD Million)

• Food & beverage
• Healthcare
• Consumer electronics
• Living goods
• Others

Reasons for the study

• While studying the demand for food & beverage industry, we came across the fact that U.S. thermoformed plastic packaging are popular among end users due to low cost, and less environmental impact as compared to plastic packaging
• The market is fragmented in nature as large number of private companies are operating in this industry. The companies, as a strategic step are adopting M&A to gain competitive advantage

What does the report include?

• The US thermoformed plastic packaging market study provides an in-depth analysis of material types and applications
• The study also involves in-depth insights of US thermoformed plastic packaging with import and export statistics
• Drivers, restraints and opportunities for the market have been covered in the study
• The study covers the different aspects of the value chain including raw materials, suppliers, distributors, manufacturers and end user industries
• Historical, current and forecast market data is provided for all the segments
• The study includes detailed profiles of key participants of the market based on material type offerings, financial performance and recent initiative

Who should you buy this report?

• The US thermoformed plastic packaging market study meets the needs for various parties including government and non-government associations, consultants , analysts, researchers and academicians
• The report is also suitable for companies that are currently operating in the market as well as those looking to integrate their operations from either raw material manufacturing or downstream buyers
• Moreover, the study can also help new entrants take informed decisions about venturing into the market.