iPac was established in 2016, identifying an opportunity for a new product development and service focussed supplier in the UK thermoform packaging market following high levels of consolidation and deteriorating levels of service. Since inception the business has established a high-quality facility and state-of-the-art thermoform plant and machinery.
The global thermoformed plastics market size was valued at $11.69 billion in 2018 and is expected to reach $16.28 billion by 2025. The food industry is a major application segment of the market, expected to drive global demand.
The funding will enable iPac to continue to invest in its state-of-the-art facility to deliver on its ambitious expansion plans.
