Plastic Tray Market Report Covers Competition Landscape and Upcoming Trends by 2018 to 2027

A latest report published by Fact.MR takes into account the plastic tray market from a global as well as local viewpoint. The plastic tray market size was valued at US$ 2,000 million in 2018. Further, the plastic tray market is expected to grow at a CAGR of 3.6% over the forecast period 2018-2027. 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.

Polyethylene Terephthalate (PET) to Find Largest Application in Plastic Tray Production

Polyethylene Terephthalate (PET) is expected to be one of the largest used materials in the production of plastic trays. PET is projected to expand at a significant rate during the forecast period 2018-2027. By the end of 2018, Polyethylene Terephthalate is expected to bring in more than US$ 2,000 million in terms of revenue, as per the report on plastic tray market by Fact.MR.

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Prominent plastic tray market players covered in the report contain:

  • Genpak LLC
  • Lacerta Group Inc.
  • Sonoco Products Company
  • Other Key Players

The behavior pattern of each player – new product launches, partnerships, and acquisitions – has been analyzed in the plastic tray market report comprehensively. In addition, the research encompasses the strengths, weaknesses, opportunities and threats of each plastic tray market vendor in an in-depth manner.

The plastic tray market report answers important questions which include:

  • What does the status of the plastic tray market look like after the forecast period?
  • Which region has the highest contribution to the global plastic tray market and why?
  • Which players remain at the top of the global plastic tray market?
  • What opportunities are available for the plastic tray market players to expand their production footprint?
  • Which segment has the maximum impact on the global plastic tray market?

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Flexible plastic trays in the plastic tray market are expected to witness the highest sales during the forecast period. Reusability, lightweight, enhanced protection, shipping friendly, longer shelf life, are some of the benefits offered by flexible plastic trays. Hence, the adoption of flexible plastic trays is increasing across various industries. The overall outlook for the plastic tray market is likely to remain sluggish, with the plastic tray market expected to reach CAGR of 3.6% in terms of revenue during 2018-2027.

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