THERMOFORMED PLASTIC PRODUCTS FOR FOOD AND BEVERAGE INDUSTRY MARKET ANALYSIS
The global thermoformed plastic products for food & beverage industry market is projected to surpass US$ 23.3 billion by the end of 2030, in terms of revenue, growing at CAGR of 6.11% during the forecast period (2023 to 2030).
Figure 1. Global Thermoformed Plastic Products for Food & Beverage Industry Market, Revenue Share (%), By Region, 2022
Also, the growth of Thermoformed plastic used in Ready to eat food packaging is being driven by the increase in demand for the Ready to eat food.
Geographically, Europe dominated the global thermoformed plastic products for food & beverage industry market in 2022, reporting 32% market share in terms of revenue, followed by Asia Pacific and North America, respectively.
On the basis of application, in 2022, packaging accounted the largest market share of 74% in terms of revenue, followed by food service articles and others, respectively.
Figure 2. Global Thermoformed Plastic Products for Food & Beverage Industry Market, Revenue Share (%), By Application, in 2022
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