Plastic Tray Market Share, Trends, Business Strategy and Forecast 2018 to 2027

Posted on 2019-08-01 by Mark Hub in Industrial // 0 Comments

The report on the plastic tray market provides detailed analysis of the market along with key-insights. The report also highlights various factors influencing market growth such as new developments, on-going research activities, automation and use of new technologies by manufacturers in the plastic tray market. The numbers in the report are provided in the form of value and volume. The report also offers historical data along with forecast on the plastic tray market.

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The plastic tray market is projected to expand at a very slow phase with the global sales of plastic tray surpassing US$ 7,000 million by the end of 2018, according to the latest report by Fact.MR. Introduction of eco-friendly alternatives to the plastic trays such as fiber-based trays, bagasse or sugarcane trays, paper trays, and plant-based plastics are emerging as a threat in the growth of the plastic tray market. However, manufacturers in the plastic tray market are focusing on developing reusable and recyclable plastic trays.

Moreover, the rise in human health concerns due to use of plastic is also leading to the development of new products, for instance, companies have started offering BPA-free plastic products, including plastic trays, bottles, containers, and other products. Companies are also investing in the research and development of plastic trays that are safe to use across industries including food and beverages, personal care, pharmaceuticals, and consumer electronics.

Food and Beverages Industry to Rule the Plastic Tray Market

Plastic trays are largely used across the food and beverages industry. The demand for plastic tray in the food and beverages industry is expected to grow significantly throughout the forecast period 2018-2027. Rising demand for ready-to-eat and the ready-to-cook food is driving the use of plastic trays.

However, health concerns regarding the consumption of food in plastic are also rising. Hence, the Food and Drug Association (FDA) has introduced regulations regarding the materials used to make plastic trays and other packaging used in the food and beverages industry.

Manufacturers in the plastic tray market are developing thermoformed plastic trays for food packaging. These plastic trays are being designed with easy to open and close lids, especially for packaging foods such as baked goods, salads, wraps, and sandwiches.

Europe is likely to emerge as one of the most dominating regions in the plastic tray market, as per the report by Fact.MR. Europe has already introduced regulations and guidelines with the aim to boost the recycling of PET plastic trays.

Meanwhile, the European Commission has also introduced new rules to ban single-use plastic products from the market. This is likely to hamper the plastic tray market growth in the region. However, manufacturers in the plastic tray market in Europe are focusing on developing reusable and recyclable plastic tray products.

Market Structure

The plastic tray market has been bifurcated on the basis of material type, form, end user, and region. The key segments are further divided into sub-segments to provide better insights into the market.

The material type in the plastic tray market is segmented into PVC, polypropylene, polyethylene terephthalate, polystyrene, and other materials. Form is categorized into flexible and semi-flexible. By the end-users, the demand for plastic tray can be seen in the food and beverages, industrial goods, electronics, pharmaceuticals, retail, cosmetics and personal care.

Additional Questions Answered

The report on the plastic tray market provide answers to some of the important questions such as

Which type of material is widely used in developing plastic trays?
Which is the most dominating country with high adoption and sales of plastic trays?
Which industry uses plastic trays on a large scale?
What are the factors responsible for the growth of the plastic tray market?
Which form of plastic tray is largely preferred in the market by industries as well as customers?

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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