Tier 2 Players Account for Over 25% Market Share of Paper Trays – Fact.MR Survey
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Paper Trays market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Paper Trays
The report offers actionable and valuable market insights of Paper Trays. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Paper Trays Market across various industries and regions.
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The paper trays market is likely to grow at a healthy 3.9% value CAGR throughout 2027, according to the latest Fact.MR study. The momentum in the paper trays market can be attributed to the 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.
This newly published and insightful report sheds light on Market Insights of Paper Trays, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Paper Trays Market.
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Competitive Landscape
The report on the paper trays market includes a 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.
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 a compostable ovenable tray, an extension to its paper food packaging portfolio. Likewise, in September 2018, Mondi Group Plc has launched a 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.
In a bid to expand their global reach, paper trays market participants are acquiring packaging operations of other counterparts.
Huhtamaki Oyj acquired International Paper’s foodservice operations in China in order to enhance its brand visibility across emerging economies and grab a major share in the Asia Pacific paper trays market.
Key players in the paper trays market are initiating joint ventures and acquisitions in a bid to cater to the growing needs of new clientele. Huhtamaki Oyj has initiated a joint venture with CupPrint, wherein it acquires the majority of shares (70%).
Main focus behind this US$ 22 million acquisition is to enhance Huhtamaki’s digitalization competencies. This acquisition in the paper trays space can facilitate reduced lead times and benefits of Huhtamaki’s financial strength and global footprint.
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Soaring Popularity of Frozen Food Products Driving Innovation in Paper trays Market
A majority of paper tray manufacturers are launching microwave-safe and freezer-safe paper trays addressing the soaring popularity of frozen food products among younger consumers. Market players are incorporating advanced technologies, such as modified atmosphere packaging technology, and manufacturing processes, such as thermoforming, to introduce unique features of paper trays suitable for food & beverage products.
“Though the F&B space holds the largest share in the paper trays market, industrial applications of paper trays are not limited to the food industry. A variety of end-user industries, such as consumer durables & electronics, healthcare, and personal care & cosmetic products, contribute greatly to the growth of the paper trays market. Leading manufacturers of paper trays are aware of surging demand for paper trays in the consumer durables & electronics industry, and are adopting strategies to focus enhancing their product portfolio for this segment,” says a lead analyst at Fact.MR.
The pulp & paper industry is one of the heavily regulated industries, as it utilizes more than 40% of industrial wood that is traded globally. Such regulations established by governmental and environmental organizations inevitably add to tangible monetary as well as non-monetary costs of manufacturing paper trays. For example, the U.S. Environment Protection Agency (EPA) recommends market players to use recycled fiber and maintain minimum content standards of recovered or virgin fiber. Thereby, government policies and eco-friendly manufacturing strategies adopted by paper trays market players are boosting the use of recycled fiber as the primary source for paper trays.
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More Valuable Insights on Paper Trays Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Paper Trays, Sales and Demand of Paper Trays, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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