U.S. Rigid Thermoform Plastic Packaging Market Size, Share & Trends Analysis Report By Material (PET, PVC, PP, PE), By Product (Blister Packs, Clamshells, Trays & Lids, Containers), By Application, And Segment Forecasts, 2019 - 2025

Report Overview

The U.S. rigid thermoform plastic packaging market size to be valued at USD 8.99 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 2.7% during the forecast period. The growing demand for rigid thermoform plastic packaging in the food and beverage industry, for secure seals, enhanced shelf life, and quality designs are projected to propel the market growth during the forecast period. Rigid thermoform plastic packaging delivers compartmentalization and cleanliness required in medical goods that carefully hold products in place and provide external protection. The demand for rigid thermoform plastic packaging products is expected to be supported by features such as negligible waste, cost-effectiveness, strong growth in the food and beverage industry.

Thermoform packaging is used to produce blister packs for capsules, tablets, catheters, needles, and syringe. Rigid thermoform plastic packaging products ensure the overall quality of medicines. These products can be customized to offer solutions that are airtight, anti-bacterial, and durable. These properties enable the product to safeguard patients against infections. In addition, the products possess chemical resistance, durability, and transparency of plastics, thus enabling the widespread usage in hospitals, homes, and laboratories.

In the packaging of medical and food products, moisture control is a major concern, and thermoform plastic acts as barrier films to deliver the product in good condition. Thin walling used in various packaging applications has been an additional growth factor for the market.

Food processors and supermarkets often make use of clear or transparent containers for packaging various products such as fresh-cut fruits, deli produce, and bakery goods. These clear containers assist the consumer in visually identifying the packaged products and also help in merchandising or displaying various products on retail shelves.

The food service industry in the U.S. is a major consumer of clamshells. This industry uses clamshell packaging for various products including ready-to-eat meals, bakery items, fresh produce, and deli products. Growing food service industry, coupled with an increasing number of food service establishments in the country, is likely to favor the growth of the segment over the forecast period.

U.S. Rigid Thermoform Plastic Packaging Market Trends

The high efficiency and low cost of thermoformed plastic products in comparison to plastic packaging are likely to promote the growth of thermoform plastic packaging in the United States during the forecast period. Furthermore, since thermoform products are flexible and versatile, manufacturers can add customized packaging designs to boost brand awareness and product visibility.

Consumer purchasing habits have shifted toward environment-friendly packaging trends. Increased consumer preference for brands with a good environmental and social influence is likely to generate a lucrative opportunity for the thermoform plastic packaging market in the United States during the forecast period.

However, strict government rules governing the use of plastic, as well as fluctuations in raw material prices, are expected to limit the growth of the rigid thermoform plastic packaging market in the United States. The changing packaging trend from rigid to flexible is expected to hamper the market expansion in the region.

Product and Application Insights

The container product segment dominated the U.S. rigid thermoform plastic packaging market in 2018 and is likely to continue its dominance over the forecast period. Containers are widely used in the food and foodservice industry for packaging various products such as fresh fruits, deli foods, and bakery products.

The clamshell product segment, in terms of revenue, is likely to have the highest CAGR of 3.1% over the forecast period. The demand for clamshells is largely driven by the growing food and beverage, electronics, and pharmaceutical industries. The growing trend toward the consumption of single-serve and on-the-go meals is likely to increase the demand for clamshells. In addition, the growing electronics industry in the U.S. owing to several factors, including new product and technological developments, shorter product life cycles, and frequent product launches, are further likely to augment the demand for clamshells over the forecast period.

In 2018, pharmaceuticals emerged as the largest application segment for blister packs and are expected to continue this dominance over the forecast period. Key factors such as increasing healthcare spending, the aging population, and the presence of key pharmaceutical manufacturers are expected to have a positive impact on the overall pharmaceuticals industry in the country, thereby augmenting the consumption of blister packs and other rigid thermoformed plastic packaging solutions.

Material Insights

PET dominated the market and accounted for a revenue share of 42.6% in 2018. The demand for PET material is largely driven by the properties exhibited by the material that include high impact strength, resistance to most solvents, lightweight, and recyclability, which make it a suitable choice for producing various rigid thermoform plastic packaging products. Various grades of PET materials such as CPET, APET, and RPET are used by different rigid thermoform plastic packaging manufacturers operating in the market.

PET is a commonly used material for packaging food and beverages such as soft drinks, water, juices, and salad dressings. Other products that are packaged in PET material include cosmetic and personal care products.

PVC is typically used in the manufacturing of rigid thermoform packaging products such as containers and general-purpose and display trays. These products are used for packaging a wide range of food products such as vegetables, meat, and sandwiches, to name a few. PVC is also used for manufacturing clamshells and blister packs, which are widely used for several pharmaceutical products, electronic accessories, and other electrical supplies.

Key Companies & Market Share Insights

The market is highly competitive and houses both global as well as domestic companies. Key global players include Sonoco Products Company; Sealed Air Corporation; Pactiv LLC; D&W Fine Pack LLC; Sabert Corporation; Genpak LLC; Fabri-Kal Corporation; Anchor Packaging Inc.; Placon Corporation; Winpak Ltd.; Display Pack Inc.; EasyPak Inc.; Huhtamaki Group; Amcor plc; and Constantia Flexibles GmbH.

Companies operating in the U.S. market offer a wide range of products that are available in a variety of shapes, sizes as well as materials. Moreover, they also offer custom packaging products to suit specific customer requirements. The U.S. market has also witnessed several mergers and acquisitions over the past few years.

The key attributes of the major players in the industry include the significant geographical presence, strong financial performance, and relatively higher R&D capabilities. However, several privately-held small and medium enterprises have been entering into the industry, with prime focus on extensive product offerings to cater to the varied demand trends in the market. This may prove to be a key challenge for the key players of the industry over the forecast period.

Recent Development

In February 2021, Amcor introduced the first high-barrier, recycle-ready liquid pouch packaging solution. The development of AmPrima PE Plus by Amcor is a game-changing sustainable solution for complex packaging systems. AmPrima PE Plus invention provides highly durable hermetic edge and fitting seals that function well in harsh manufacturing, distribution, and usage environments.

U.S. Rigid Thermoform Plastic Packaging Market Report Scope

U.S. Rigid Thermoform Plastic Packaging Market Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2013 to 2025. For the purpose of this study, Grand View Research has segmented the U.S. rigid thermoform plastic packaging market report based on material, product, and application:

• Material Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2025)

  • Polyethylene Terephthalate (PET)

  • Polyvinyl Chloride (PVC)

  • Polystyrene (PS)

  • Polypropylene (PP)

  • Polyethylene (PE)

  • Others

• Product & Application Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2025)

  • Blister Pack

    • Food & Beverages

    • Electronics

    • Personal Care & Cosmetics

    • Pharmaceuticals

    • Homecare

    • Others

  • Clamshells

    • Food & Beverages

    • Electronics

    • Personal Care & Cosmetics

    • Pharmaceuticals

    • Homecare

    • Others

  • Trays & Lids

    • Food & Beverages

    • Electronics

    • Personal Care & Cosmetics

    • Pharmaceuticals

    • Homecare

    • Others

  • Containers

    • Food & Beverages

    • Electronics

    • Personal Care & Cosmetics

    • Pharmaceuticals

    • Homecare

    • Others

  • Others

    • Food & Beverages

    • Electronics

    • Personal Care & Cosmetics

    • Pharmaceuticals

    • Homecare

    • Others