Thermoform packaging is expected to grow into a $57.6 billion business around the world by 2024, according to Transparency Market Research.
The research company is out with a new report indicating the global market was $36.4 billion in 2016 and is expected to achieve a compound annual growth rate of 5.9 percent until the end of 2024.
Thermoform types include blister, clamshell and skin packaging, as well as tubs and cups. Blister packaging “is expected to be gain a significant momentum in the coming years due to its growing adoption in sectors such as pharmaceuticals,” the research firm indicated.
Thermoform packaging in North America will represent a 37.9 percent share of the overall global market by 2024, the firm added.
More information about the report is available at the group's website.