London, 21 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Thermoformed Plastic Products Market 2014-2018, which is expected to grow at a CAGR of 4.27 percent during the forecast period of 2013-2018.
The market is expected to benefit from the increasing demand for packaged and canned foods, resulting from the changing lifestyle of the global population during the forecast period. In addition, the Global Thermoformed Plastic Products market will be favored by increased usage of thermoformed plastic products as a replacement for glass in various packaging applications.
“There has been a shift in consumer preference from glass packaging products to thermoformed plastic products in recent years because of its lighter weight and superior strength,” says Faisal Ghaus, Vice President of TechNavio.
“This results in relatively low transportation costs for thermoformed plastic packaging products, as plastic is seven times lighter in comparison with the same volume of glass.”
Key Market Drivers
- Increased Demand for Food and Healthcare Packaging
- Substitute for Glass Packaging
- Increased Demand for Thin-wall Packaging
- Increased Usage as Substitute for IMP Products
Key Market Trends
- Consolidation of Global Thermoformed Plastic Products Market
- Rise in Demand from BRICS Countries
- Increased Demand for Green Packaging
- Technological Improvements
- In-mold Labeling
Key Market Vendors
- Anchor Packaging Inc.
- Associated Packaging Ltd.
- Pactiv LLC.
- Peninsula Packaging Company LLC.
- Placon Corp.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
