Global Thermoformed Tubs Market is segmented By Material (Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyvinyl Chloride (PVC), Ethyl Vinyl Alcohol (EVOH), Others), By Shape (Round, Oval, Rectangular, Others), By End-User (Food & Beverages, Electronics, Pharmaceuticals, Healthcare, Personal care & cosmetics, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Thermoformed Tubs Market Size
Global Thermoformed Tubs Market reached USD 8.8 billion in 2022 and is expected to reach USD 13.6 billion by 2030, growing with a CAGR of 5.6% during the forecast period 2023-2030.
The global thermoformed tubs market is experiencing robust growth, driven by increasing demand for convenient and eco-friendly packaging solutions. Consumers appreciate their versatility and sustainability. Furthermore, the food industry's expanding ready-to-eat and takeout segments are boosting the need for reliable, single-use containers, where thermoformed tubs excel.
The pharmaceutical and healthcare sectors are also embracing these containers for their durability and product protection. In July 2021, Huhtamaki and Syntegon introduced a groundbreaking innovation for the pharmaceutical and healthcare industry: Push Tab Paper, the first paper-based tablet packaging. The eco-friendly solution is constructed from more than 75% paper-based material sourced from FSC certified suppliers in Europe, ensuring sustainability throughout the supply chain.
North America's dominant share in the thermoformed tubs market is driven by a domination in pharmaceutical sector, packaged food market and a long history of readily available thermoformed packaging solutions. The U.S. and Canda are some of the biggest nations in ready to eat food market, driving the growth for thermoformed tubs option for food packaging.
Thermoformed Tubs Market Scope
Metrics |
Details |
CAGR |
5.6% |
Size Available for Years |
2021-2030 |
Forecast Period |
2023-2030 |
Data Availability |
Value (US$) |
Segments Covered |
Material, Shape, End-User, and Region |
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
Fastest Growing Region |
Asia-Pacific |
Largest Region |
North America |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Thermoformed Tubs Market Dynamics and Trends
Rapid Growth Driven by Ready-to-Eat Foods
The global thermoformed tubs market is experiencing significant growth, driven by the expanding global ready-to-eat food market. As per DataM intelligence, the ready-to-eat food market is projected to grow from USD 172.5 million in 2022 to a substantial USD 258.7 million by 2030. The growth is attributed to changing consumer lifestyles, increased urbanization and a rising preference for convenience foods.
Thermoformed tubs are a preferred packaging solution for ready-to-eat meals due to their versatility, cost-effectiveness and ability to maintain product freshness. It offer excellent protection and presentation, meeting the demands of both consumers and food manufacturers. The growing demand for on-the-go and pre-packaged meals, particularly in urban areas, is boosting the adoption of thermoformed tubs globally.
Sustainability Driving Growth
The thermoformed tubss market is being propelled by the rising trend towards sustainability in consumer preferences. Thermoformed plastics are an attractive choice for sustainable packaging due to their cost-effectiveness and environmental responsibility. It typically cost 10% to 15% less than plastic packaging produced through injection molding, with lower tooling costs and shorter product development times. Thermoplastic options like PET and HDPE, which are easily recyclable, are gaining prominence, aligning with the growing demand for eco-friendly packaging solutions.
In April, 2022, Chocolate Storybook, a U.S.-based desserts shop partnered with the Center for Industrial Research and Service (CIRAS) at Iowa State University to create a sustainable thermoformed tub, made from 80% recycled water bottles. As Europe moves away from single-use plastics, this initiative aims to replace existing tubs with eco-friendly alternatives in U.S. by 2022. The new tubs are slightly more expensive to produce but offer improved freshness. Chocolate Storybook encourages consumers to repurpose the tubs as food containers, art projects and more, fostering a greener environment and reducing plastic waste.
Environmental Impact of Polypropylene
The environmental impacts of polypropylene (PP), a commonly used material in thermoformed tubs, can significantly influence the thermoformed tubs market. While PP is not considered a primary environmental concern due to its recyclability, its manufacturing process raises ecological challenges. The production of PP necessitates petroleum, natural gas, substantial water (630 gallons) and energy (78 kWh/kg), resulting in significant energy consumption and greenhouse gas emissions.
The environmental drawbacks can deter environmentally conscious consumers and businesses from opting for PP-based thermoformed tubs, driving demand for more sustainable alternatives. Additionally, the persistence of unrecycled PP in landfills can contribute to soil and water contamination, impacting ecosystems and wildlife. Thus, the environmental implications of PP can shape consumer preferences and regulatory pressures, affecting the thermoformed tubs market.
Thermoformed Tubs Market Segment Analysis
The global thermoformed tubs market is segmented based on material, shape, end-user and region.
Polypropylene's Dominance and Advances in Sustainable Packaging
Polypropylene (PP) holds a significant share in the thermoformed tubs market due to its favorable properties. PP is a low-density plastic, making it lightweight and cost-effective. It offers toughness, flexibility and good fatigue resistance. Its melting point, typically between 160-166°C, ensures stability in various applications. PP finds use in a wide range of products, from food containers and medical components to packaging, storage boxes and even light shades, thanks to its durability, low cost and resistance to dirt.
In June 2022, the NextLooPP project initiated full-scale production trials of food-grade recycled polypropylene (rPP) packaging. Mannok Pack, a UK and Ireland-based thermoformed food packaging manufacturer, conducted the trials, producing various products, including dairy spread tubs and lids. The finished packs exhibited excellent visual and processing characteristics, with minor variations compared to virgin PP. The milestone demonstrates the potential for closing the loop on food-grade polypropylene and has garnered positive feedback from industry experts and participants, marking a significant step toward sustainability in packaging.
Thermoformed Tubs Market Geographical Share
North America's Market Dominance in Thermoformed Tubs: A Stronghold in Ready-to-Eat Food and Pharmaceuticals
North America's dominance in the thermoformed tubs market with its strong presence in both the ready-to-eat food and pharmaceutical packaging sectors. The region's mature ready-to-eat food market, with a rich history of consumer acceptance, affords North America a significant market share advantage. As per Social, nearly 36% of Americans consumed ready-to-eat meals in 2020.
In pharmaceutical packaging, North America commands the largest market share, driven by numerous key pharmaceutical manufacturers. Statistics from the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) reveal that North America accounted for approximately 48.9% of global pharmaceutical sales, surpassing Europe and Asia-Pacific, which stood at 23.2% each. Increasing healthcare expenditure further fuels medication and pharmaceutical packaging sales in the region, particularly in United States, where prescription sales generate substantial demand for packaging, reinforcing North America's leadership in the thermoformed tubs market.
Thermoformed Tubs Market Companies
The major global players in the market include Universal Plastics Corporation, Berry Astrapak Ltd, Silgan Holdings Inc, STM Plastics, Global Thermoforming, Greiner Packaging, ExxonMobil Chemical, Greiner Packaging GmbH, Ditai Plastic Products Co., Ltd., Tengyue Display Co., Ltd.
COVID-19 Impact on Thermoformed Tubs Market
The COVID-19 pandemic has had a mixed impact on the thermoformed tubs market. While demand for packaging related to groceries, healthcare products and e-commerce transportation has increased significantly, other sectors such as industrial, luxury and non-food consumer packaging have experienced declines. The pandemic has also led to changes in consumer behavior, including a shift towards online shopping and e-commerce, which has boosted the demand for these materials.
Also, the crisis has affected supply chains and raw material costs, adding to the challenges faced by companies. The overall impact on the thermoformed tubs market has been influenced by factors like region, end-use segments and substrate types. Movement restrictions and border closures delayed shipments and caused production delays.
Russia-Ukraine War Impact
The Russia-Ukraine war has significantly affected the thermoformed tubs market by exacerbating existing supply chain challenges related to plastic and polymer production. Before the invasion, factors like COVID-19 disruptions and oil price volatility had already caused volatility in resin prices.
However, the war has led to reduced petroleum exports from Russia, a major petroleum exporter, resulting in expectations of climbing resin prices, particularly for polypropylene. Additionally, the war has disrupted steel production, a key material for injection molding tooling, potentially impacting the manufacturing process. Moreover, the shortage of wooden pallets from Ukraine, essential for shipping goods, has also slowed down global shipping and affect the availability of raw materials, further impacting the thermoformed tubs market.
Key Developments
- In July 2022, a PET thermoformed container recycling program was launched in El Paso, Texas, through a collaboration between Sam's Club locations, Texan by Nature (TxN) and Texans for Clean Water (TFCW). The six-month pilot project aims to reduce litter in waterways and roadways by encouraging the recycling of PET thermoformed packaging.
- In September 2020, Datepac, a provider of Medjool dates in Yuma, Arizona, transitioned to green-colored packaging made from 100% post-consumer green PET plastic sourced from beverage bottles. Branded as PinnPACK Green, the recycled PET containers, supplied in 12oz and 2-pound sizes, were provided by PinnPACK, a subsidiary of CarbonLITE Holdings, the world's largest recycler of PET beverage containers.
Why Purchase the Report?
- To visualize the global thermoformed tubs market segmentation based on material, shape, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of thermoformed tubs market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global thermoformed tubs market report would provide approximately 61 tables, 65 figures and 200 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies