How thermoformed plastic can benefit manufacturers
- The global market for food and beverage usage of thermoformed plastic is expected to hit $11.2 billion by the end of this year with a CAGR of 4.2% from 2016 to 2024, according to a new report from Persistence Market Research.
- Thermoformed plastic, which can be synthetic or biodegradable, offers manufacturers a number of advantages, including "savings in cost and time, uniformity of end-product, and easy usage," according to the report.
- Thermoforming plastic products costs about 10% to 15% less than plastic packaging created via injection molding.
Because it requires less time and investment, thermoformed plastic allows manufacturers to better align with consumer demands for packaging, particularly convenience. As active lifestyles and consumers' on-the-go food and beverage needs converge, manufacturers are seeking new ways to provide accessibility. This could range from the way a consumer holds or prepares a product to the benefits of resealable and smaller packaging sizes.
With thermoformed plastic, manufacturers can take advantage of cost savings by assuming less risk in financial investments. If the packaging doesn't perform well or if consumers want changes, the manufacturer will have saved on the investment from the outset, even if it didn't succeed. If consumers prefer the new packaging, the thermoformed version is more cost-effective and bolsters the brand's bottom line.
This packaging material also offers flexibility and versatility, allowing manufacturers to create a wide range of potential packaging presentations for their brands. Packaging visibility is key for manufacturers pushing innovation in style and branding to help their products stand out on crowded store shelves. An eye-catching logo and food pictures are a start, but having the design of the packaging material itself be a statement could take manufacturers' efforts one step further.