THERMOFORM PACKAGING MARKET ANALYSIS

Thermoform Packaging MarketSize and Trends

• North America and Europe are the largest markets for thermoformed packaging due to high disposable incomes in the regions. Moreover, a preference for packaged food and disposable products are also driving growth of the market.
• Asia Pacific is the fastest growing market with the world’s largest population in India and China, which in turn is boosting demand for food, beverages, pharmaceuticals, and electronics. These countries are also growing as manufacturing hubs for pharmaceuticals and electronics due to low cost of labor and raw material. According to International Monetary Fund (IMF), the Asia Pacific region accounted for 50% of the world’s GDP and is projected to become a prime consumer hub over the forecast period.
• Increasing income of population in Latin America and high consumption of packaged food and beverages is fueling growth of the market.
• The Middle East and Africa are fastest growing region in this markets, owing to large working migrant population in GCC countries and fast growing economies in Africa, which in turn are driving growth of the market.