U.S. Rigid Thermoform Plastic Packaging Market Worth $8.99 Billion By 2025

The U.S. rigid thermoform plastic packaging market size is projected to reach USD 8.99 billion by 2025, expanding at a CAGR of 2.7%, according to a new report by Grand View Research, Inc. The growing scope of the products in food & beverages, pharmaceutical, and personal care applications is expected to be the major factor driving the market growth over the forecast period.

The food and beverage industry in the U.S. is one of the major users of rigid thermoform plastic packaging solutions, with FDA-approved food contact materials such as PET, PVC, and PE, to name a few. The rapid growth of the food service and online food delivery industry segments in the country is expected to have significant impacts on the growth of this packaging market during the forecast period.

The growth of single-serve meals, on-the-go food products, and ready-to-eat meals is slated to result in increased demand for rigid thermoformed plastic packaging solutions such as clamshells, trays and lids, and containers. Other key food products making use of these packaging solutions include fresh fruits, deli products, and bakery products.

Blister pack is a type of packaging typically used for pharmaceutical, personal care and cosmetics, homecare, and food packaging applications. Commonly utilized materials for producing blister packs include polyvinyl chloride, polyethylene, and polypropylene. These blister packs are most frequently used for packaging OTC medications such as pills, tablets, and capsules. Other products that are usually packed in these blister packs include electronics such as batteries, headphones, cell phone accessories, and pen drives.

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www.grandviewresearch.com/industry-analysis/us-rigid-thermoform-plastic-packaging-market

Further key findings from the report suggest:

• Among materials, the PET segment accounted for the largest share of over 42.0% of the overall market revenues in 2018. The growing demand for this material can be attributed to its properties such as non-toxic, strong, and lightweight material, along with versatility, which facilitates the use of this material to manufacture clamshells, containers, bowls, lids, and trays
• PVC is a shatter-resistant and lightweight material as compared to glass, and it also possesses good barrier properties, thereby making it ideal for food preservation
• Among product categories, containers dominated the market, accounting for a share of over 32.0% of the market revenues in 2018. Commonly utilized materials for manufacturing containers include PET, PP, and PS
• Rising trend towards consumption of single-serve meals and on-the-go products, as a result of busier and changing lifestyles, is expected to increase the demand for containers over the forecast period
• Diverse product offerings and mergers and acquisitions are among the major strategies adopted by key market players to reinforce their competitive positions in the market.