P e r s i s t e n c e M a r k e t R e s e a r c h segment is augmented by various government initiatives on recycling and disposal of packing products, especially in the European Union region, which is a dominant region in the global F & B thermoformed plastic products market.
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By application, the thermoformed plastic products market is segmented into packaging, food serving articles, and others. The packaging segment is estimated to account for 73.6 % value share of the global F & B thermoformed plastic products market by 2016 end. This segment is further sub-segmented into meat packaging, bakery products, takeaway food products, dairy products, and beverages. Among sub-segments, the beverage sub-segment is estimated to account for 34.7 % value share by 2016 end.
On the basis of region, the global F & B thermoformed plastic products market is segmented into North America, Latin America, Europe, Asia Pacific( APAC), and Middle East & Africa( MEA). Europe was the largest market for thermoformed plastic products, accounting for 32.3 % value share of the global F & B thermoformed plastic products market in 2015. However, APAC is expected to register the fastest growth in terms of value over the forecast period. Increasing demand for convenience and takeaway food packaging products in Europe, APAC, and North America is expected to drive revenue growth of the global F & B thermoformed plastic products market over the forecast period.
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Key players in the global F & B thermoformed plastic products market include Clear Lam Packaging Inc., D & W FINE PACK, HUHTAMAKI GROUP, Placon, Anchor Packaging Inc., Berry Plastics Corporation, Reynolds, Silgan Holdings Inc., and Tray-Pak Corporation. Major players in the market are focusing on increasing their market penetration by acquiring small regional players. The global F & B thermoformed plastic products market is characteristically moving towards market consolidation. There have been various mergers in the recent past; this trend is expected to continue over the coming years, with key players focusing on increasing profitability through acquisitions.
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Global Food and Beverages Thermoformed Plastic Products Market 2016-2024