In the sizzling landscape of the thermoform packaging market, players jockey for dominance. Like molten plastic molded into shape, strategies shift, alliances form, and new technologies emerge, reshaping the contours of this dynamic arena. Let's delve into the strategies players use, the factors determining market share, and the hottest developments shaping the landscape in the past six months.
Strategies Shaping the Market:
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Product Specialization: Players like Sonoco and Berry Global are moving beyond traditional blister packs and clamshells, developing innovative solutions like skin packaging for food and tamper-evident containers for pharmaceuticals.
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Sustainability Focus: Eco-friendly materials like bioplastics and compostable options are gaining traction. Companies like Amcor and Greiner Packaging are leading the charge with sustainable thermoforming solutions.
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Technological Advancements: In-mold decoration, laser cutting, and robotic automation are driving efficiency and creating new design possibilities. Magna Plastics and Plastic Technologies Inc. are pioneers in this area.
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Vertical Integration:Â Forward integration into downstream industries like food & beverage and medical devices strengthens control over the value chain and secures lucrative contracts.
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Geographical Expansion: Emerging markets like Asia Pacific and Latin America offer significant growth potential. Leading players are establishing production facilities and distribution networks in these regions.
Factors Fueling Market Share:
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Cost Competitiveness: Offering high-quality packaging at competitive prices, especially for short production runs, is crucial for attracting and retaining customers.
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Innovation and Performance: Developing lightweight, durable, and aesthetically pleasing packaging with features like barrier properties and tamper evidence sets players apart.
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Customer Relationships:Â Building strong partnerships with brand owners and understanding their specific needs fosters trust and long-term collaborations.
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Regulatory Compliance: Navigating the complex web of regulations on food safety, recyclability, and sustainability across different regions is essential for smooth operations.
Key Players
- Bemis Company Inc. of the United States
- Constantia Flexibles Group Gmbh of Austria
- Amcor Limited of Australia
- Tekni-plex Inc. of the United States
- Sealed Air Corporation of the United States
- Anchor Packaging of the United States
- Sonoco Products Company of the United States
- Silgan Holdings Inc. of the United States
- I. du Pont de Nemours and Company of the United States
- RPC Group Plc of the United Kingdom
- WestRock Company of the United States
- Lacerta Group of the United States
- Tray Pak Corporation of the United States
- Display Pack Inc. of the United States
- DS Smith Plc of the United Kingdom
Recent DevelopmentsÂ
In January 2024 were improved operations at Amcor Plc’s North American thermoforming manufacturing capability in order to cater to a growing healthcare ecosystem and provide an added level of flexibility to companies keen on cooperating with Amcor for development.
In November 2023, Coveris Company, which is in the packaging business and headquartered in the United Kingdom, introduced MonoFlex Thermoform to replace non-recyclable materials in food packaging, thereby reducing carbon emissions and improving product quality.
Amcor launched the Amcor HealthCare OrthoSecure thermoformed trays, are designed medical trays, in November 2022
In January 2020, Sonoco completed the acquisition of TEQ Thermoform Engineered Quality LLC & Plastique Holdings LTD, global manufacturers of thermoformed packs.
DS Smith announced its intention to acquire Bosi's doo on August 2023, as it is one prestigious Serbian firm involved in packaging production.
Charpak Ltd designed and launched a new thermoformed packaging tub in October 2019 which is 100% recyclable, tamper evident for ambient, chilled or frozen sectors, food and non-food applications.
GEA FoodTray was launched by GEA and developed with the Roba Group, Schur Flexibles Germany and Van de Velde Packaging in collaboration with their thermoforming technology as well as cardboard and film in October 2019.
Manufacturers of rigid plastic containers for food products company Quinn Packaging developed a ‘Fully Recyclable’ black plastic food tray in 2019.
COEXPAN unveiled CorePET in October 2019 which is the new 100% rPET sheet specifically formulated for the thermoform packaging market.
