Packaging is of great essence for nearly every product that is manufactured at one location and then needs to be transported to another to meet its true end user. Even throughout the duration that the product sits with its end user, its packaging can go a long way towards making an impression while protecting the product. The packaging industry has always been seeking innovative methods to meet diverse demands and thermoforming has emerged as a process that can ideally meet the requirements. Thermoforms are ideal for the packaging of both consumable and non-consumable products, and the market for them same is flourishing. According to this business intelligence study, the demand in the global thermoform packaging market will expand at a CAGR of 5.9% during the forecast period of 2017 to 2024. Revenue-wise, the opportunities in this market are estimated to be worth US$57,615.9 mn by the end of 2024.
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There are already biodegradable PET materials that can be used in food and daily packaging