Tray market is expected to grow at a CAGR of 7.3% during

NEWARK, Del, May 18, 2022 (GLOBE NEWSWIRE) — Trays are a common primary packaging material because they are inexpensive, lightweight, and durable and can be used by food chains, restaurants, pharmacies, and more. These are the main drivers in the tray market.

One of the major growth drivers of the tray market is its growing awareness of using hygienic packaging solutions for various food packaging applications. The preference for ready-to-eat foods emerged as a key driver for the double sale of trays.

Moreover, hygiene is the main concern of consumers and hence the demand for trays with MAP and packaging based on smart technology is gaining momentum. Ready meal trays ensure a durable and economical packaging material compared to other options.

Trays with a divider help store a variety of products in one package format and eliminate the need for multiple packages. This increases the profitability of packaging for end users.

Based on these factors, the global trays market is expected to set a new benchmark and grow 2.2x until 2032.

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List Of Key Players Covered By Tray market are:

  • Sonoco Product Company
  • Genpak LLC.,
  • Pro-Pac Packaging Limited,
  • Pactiv LLC.,
  • winpack ltd.
  • Pack SARL,
  • Henry Cast Products, Inc.,
  • OrCon Industries Corporation,
  • Packaging Fibercel Llc.,
  • Faerch A/S,
  • Silver Plastics GmbH & Co. KG
  • Quinn packaging.
  • Kari Out Company
  • Cascades Inc.
  • Huhtamaki Oyj

Main tray market takeaways

  • The plastic trays are expected to represent almost 2/3rd share of demand in the global tray market.
  • Approximately 80% trays are consumed in food packaging industries. However, other industries such as electrical and electronics are gradually turning to showcasing their products using molded fiber trays.
  • Divider trays or cavity trays will create an additional opportunity to $18 Bn in the next decade.
  • South and East Asia is expected to witness strong demand for tray packaging, thus increasing the market growth up to 7-9% in 2022-2032.
  • Platter sales in North America and Europe are expected to increase at a moderate growth rate in the near future.

Browse the detailed summarysearch report area with TOC @ https://www.futuremarketinsights.com/reports/trays-market

To meet the growing demand for trays in various industries, manufacturers plan to increase their production capacities and involve high-end technologies in trays such as vacuum packaging and modified atmospheric packaging.” – says the IMF analyst.

Zero waste edible trays creating buzz and spinning At the top Tray sales market

Despite the many advantages of plastic trays, consumers are looking for alternative packaging formats that are sustainable and more environmentally friendly. In the recent past, edible trays are gaining popularity because they generate no waste and are safe for consumption after use. Trays made of sugar cane, palm leaf, corn starch, bagasse, etc. emerge as edible trays that boost the overall sales of the tray market. It is anticipated that these edible trays will lead to an efficient packaging alternative to traditional trays as they meet all consumer packaging requirements.

In addition, paper bins or fiber-based bins are easy to recycle and minimize the waste rate. Paper-based packaging formats can be recycled 7-8 times. Therefore, the volume of waste bin dumps has decreased significantly in the recent past.

By penetrating these sustainable and green trays, the manufacturers plan to create sustainable revenue generation opportunities in the global tray market.

What is the demand outlook for the Asia-Pacific Trays market?

China and India hold around 40% market share in the global tray market, Asia-Pacific has dominated the global tray market and is expected to continue to do so throughout the forecast period.

Moreover, throughout the forecast period, the market is expected to grow at the highest rate. Export growth from emerging markets such as China and India is boosting market value. The fastest growing region in the global food tray packaging market is expected to be Asia-Pacific, owing to the region’s rapid expansion in the food and beverage sector, as well as its growing population and rising disposable income.

Also, throughout the forecast period, India is expected to experience the highest growth rate in the global tray packaging market in the region, owing to the rising health awareness among consumers.

Landscape Market Trays

Sonoco Products Company, Genpak LLC, Pro-Pac Packaging Limited, Pactiv LLC., Winpak Ltd. Pack LLC, Henry Molded Products, Inc., OrCon Industries Corporation, Fibercel Packaging Llc., Faerch A/S, Silver Plastics GmbH & Co. KG & Quinn Packaging are some of the key players in the global tray market.

Trays Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global trays market, analyzing the historical demand from 2015-2021 and forecast statistics from 2022-2032. The study reveals growth projections of the trays market based on material type (plastic, aluminum foil, molded fiber, and paper & board), product type (with cavity and without cavity), end-use (food, personal care and cosmetics and pharmaceutical) in seven regions.

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Detailed Table of Contents:

  • Summary
    • Global Market Outlook
    • Demand Side Trends
    • Supply-side trends
    • Analysis of the technology roadmap
    • Analysis and recommendations
  • Market overview
    • Market Coverage / Taxonomy
    • Market Definition / Scope / Limits
  • Market Context
    • Market dynamics
      • Drivers
      • Constraints
      • Opportunity
      • Tendencies
    • Scenario forecast
      • Demand in the optimistic scenario
      • Demand in Likely Scenario
      • Demand in the conservative scenario
    • Opportunity Map Analysis
    • Product life cycle analysis
    • Supply chain analysis
      • Supply-side participants and their roles
        • Producers
        • Mid-level participants (traders/agents/brokers)
        • Wholesalers and distributors
      • Value added and value created at the node of the supply chain
      • List of raw material suppliers
      • List of existing and potential buyers
    • Value chain analysis
      • Profit Margin Analysis
      • Wholesalers and distributors
      • Retailers
    • Regulatory landscape
    • Regional Parent Market Outlook
    • Production and consumption statistics
  • Global Trays Market Analysis 2017-2021 and Forecast 2022-2032, By Material Type
    • Introduction / Main results
    • Historical Market Size (USD Million) and Volume (Tons) Value Analysis by Material Type, 2017-2021
    • Market Size (Million US$) and Volume (Tons) Current and Future Value Analysis and Forecast by Material Type, 2022-2032
      • Plastic
        • Polypropylene (PP)
        • Polyethylene terephthalate (PET)
        • Others (HIPS, HDPE, etc.)
      • Aluminum foil
      • Molded fiber
      • Paper and cardboard
    • Annual Growth Trend Analysis by Material Type, 2017-2021
    • Absolute Dollar Opportunity Analysis by Material Type, 2022-2032
  • Global Trays Market Analysis 2017-2021 and Forecast 2022-2032, by Product Type
    • Introduction / Main results
    • Historical Market Size (USD Million) and Volume (Tons) Value Analysis by Product Type, 2017-2021
    • Market Size (Million US$) and Volume (Tons) Current and Future Value Analysis and Forecast by Product Type, 2022-2032
      • With cavity
      • Without cavity
    • Analysis of annual growth trends by product type, 2017-2021
    • Absolute Dollar Opportunity Analysis by Product Type, 2022-2032

TOC Continued…

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