Paper Trays Market to Perceive Substantial Growth During 2018 to 2027

The paper trays market is likely to grow at a healthy 3.9% value CAGR throughout 2027, according to a latest Fact.MR study. The momentum in the paper trays market can be attributed to growing focus on sustainability, which includes reducing packaging waste and adopting recyclable packaging materials.

Growing consumer preference toward greener packaging solutions is driving heavy investments in the paper trays market. Anticipating the lucrativeness of the paper trays market and future growth opportunities, manufacturers are introducing a wide design range of paper trays, which is proving to be a winning product differentiation strategy for paper packaging businesses.

The Fact.MR study opines that industrial applications of paper trays in food & beverage products collectively account for more than 40% revenue share in the paper trays market. The Fact.MR study remains bullish on burgeoning demand for environmentally-friendly paper trays in the food & beverage industry, leading retail chains and foodservice brands’ commitment to phase out plastic in food packaging. The report also sheds light on increasing demand for paper trays in the consumer electronics industry, which is likely to remain a less-explored end-user industrial sector in the paper trays market.

Request to View Sample of Report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=2215Soaring Popularity of Frozen Food Products Driving Innovation in Paper trays Market

The Fact.MR study finds that Tier I companies in the paper trays market are focusing on consolidating their position in key markets. For example, the Mondi Group recently acquired pulp and paper manufacturers and suppliers across the world, including Powerflute Group Holdings Oy in Finland for approximately €365 million, and National Company for Paper Products and Import & Export S.A.E (“NPP”) in Egypt for €24 million. The company also announced that it has entered the Polish market by expanding its heavy-duty corrugated capabilities, which can help the company to remain competitive in the global market for paper packaging products, including paper trays.

According to Fact.MR, paper trays manufacturers are also focusing on penetrating the lucrative Asia Pacific market. For instance, Huhtamaki Oyj recently acquired packaging companies in Asia Pacific, including International Paper’s foodservice packaging operations in China, Ajanta Packaging’s business in India and Tailored Packaging – a foodservice packaging distributor in Australia. With the market leaders establishing a stronger foothold in emerging economies, the paper trays markets in developing nations is expected to witness positive growth in the upcoming years.

Competitive Landscape

The report on paper trays market includes detailed assessment and business outlook of key companies involved in the manufacturing and distribution of paper trays. Key facets of the paper trays market competition landscape such as SWOT analysis, product portfolio, developments, acquisitions, strategies and key financials are covered. Key manufacturers of paper trays such as Colpac Ltd., Mondi Group Plc., Huhtamaki Oyj, and International Paper have been profiled in the report.

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Companies in the paper trays market are focused on enhancing their paper trays portfolio by launching novel paper trays that can be used across a variety of applications. Colpac Ltd., has launched compostable ovenable tray, an extension to its paper food packaging portfolio. Likewise, in September 2018, Mondi Group Plc has launched patented barrier and paper solution for food packaging. The new offering will feature a paper construction with unique barrier protection, which is well-suited for the food industry.

In 2017, Yash Papers has launched a new range of eco-friendly and compostable tableware, an extension to its paper trays portfolio. With an investment of over 60 cores, the company established a new plant manufacturing biodegradable and eco-friendly paper trays and other tableware.