Thermoform Packaging Market Expected To Grow Rapidly In Pharmaceutical Industry
2023-04-14
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Thermoforming is a plastic-forming technology. Thermoformed packaging products are often used in the packaging of food and pharmaceutical products due to their low price, lightweight and aesthetic appearance. Common thermoformed packaging includes blister packaging, clamshells, and skin packaging.
In 2021, the global thermoformed packaging market will be approximately US$47.85 billion, and this figure is expected to reach US$76.92 billion in 2030. According to market research firm Precedence Research, the global thermoformed packaging market is forecast to grow at a compound annual growth rate of 5.42% from 2022 to 2030.
Image source: Precedence Research
North America accounted for 28% of the global thermoformed packaging market share in 2021. By end-user, the food and beverage industry holds the largest market share due to the wide range of packaging used by food manufacturers and food service providers, followed by the pharmaceutical industry.
Demand for thermoformed packaging in the pharmaceutical industry is expected to grow rapidly due to factors such as rapid growth in the global pharmaceutical industry, increasing incidence of chronic diseases, and an aging population, and its market share is expected to grow at a CAGR of 6.1% between 2022 and 2030.
Image source: Precedence Research
The lower cost and ease of transport of blister packaging, their unit dosage packaging format, and excellent oxygen barrier have attracted more and more pharmaceutical manufacturers to the product. The US pharmaceutical industry has moved away from the traditional bottle to the use of blisters for oral solid dosage forms.
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