Thermoformed Trays Market Size

Thermoformed Trays Market size was valued at USD 7.02 billion in 2023 and is projected to reach USD 12.13 billion by the end of 2036, registering around 4.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of thermoformed trays is assessed at USD 7.26 billion.

The increasing demand for different end use products across the end user industries, such as FMCG, healthcare, consumer electronics and others, which require flexible packaging for enhanced product shelf life, is anticipated to promote the growth of the global thermoformed trays market. The global thermoformed trays market is segmented by packaging type into blister pack, clamshell and others. Among these segments, the blister pack segment is anticipated to gain a remarkable market share during the forecast period. Blister packaging is used widely in the pharmaceutical industry. It possesses numerous benefits, such as, it is easy to use, avoids double-dosing, are advantageous for people who are vision-impaired, keeps the product fresh, and others. Moreover, blister packaging offers the manufacturer numerous options for branding and for creating visually appealing and texturally pleasing experience.