Rising Adoption of Plastic Tray Market To Fuel Revenue Growth Through 2023 – 2032 : Fact.MR

The plastic tray market is a segment of the global packaging market and is expected to experience significant growth in the coming years. Plastic trays are used for packaging various products, such as food items, cosmetics, and pharmaceuticals. The growth of the plastic tray market is being driven by several factors, including the increasing demand for convenient and hygienic packaging solutions, the growing adoption of ready-to-eat meals, and the rising demand for packaging in the healthcare industry.

According to market research reports, the global plastic tray market is expected to grow at a CAGR of around 5% between 2021 and 2026. The market is highly competitive, with a large number of players operating in the market, including major companies such as Amcor Plc, Sonoco Products Company, and Tray-Pak Corporation. The market is segmented based on material type, application, and geography. The PET (polyethylene terephthalate) segment is expected to account for the largest market share in the coming years due to its excellent barrier properties and recyclability.

In terms of application, the food and beverage segment is expected to dominate the market due to the increasing demand for convenient and hygienic packaging solutions. However, the healthcare segment is expected to grow at a higher CAGR during the forecast period due to the rising demand for packaging in the healthcare industry. In terms of geography, the Asia Pacific region is expected to dominate the market due to the increasing population and the rising demand for packaged food and beverages in the region. However, North America and Europe are expected to grow at a moderate pace due to the presence of stringent regulations regarding the use of plastics in packaging.

Overall, the plastic tray market is expected to continue to grow in the coming years due to the increasing demand for convenient and hygienic packaging solutions and the rising demand for packaging in the healthcare industry. However, the market is also expected to face challenges such as environmental concerns and the growing preference for sustainable packaging solutions

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Global Plastic Trays Market by Category

• By Material Type :
  • PVC
  • Polypropylene
  • Polyethylene Terephthalate
  • Polystyrene
• By Form :
  • Flexible
  • Semi-Flexible
• By End-Use :
  • Food & Beverages Industry
  • Industrial Goods Industry
  • Electronics Industry
  • Pharmaceuticals Industry
  • Retail Industry
  • Cosmetics and Personal Care Industry
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Competitive Landscape: Top Companies in Plastic Trays Market

• 2019 saw the introduction by Huhtamaki of ready-to-eat meal trays made of fiber that are certified for both home composting and recycling. It sources fiber from the Swedish forest company Sodra as its primary raw material.
• In 2019, Berry Global Group Inc. purchased RPC Group Plc. Berry Global has grown significantly, adding more than 150 factories and 23,000 workers, making it a true global packaging manufacturer.

Key Plastic Tray Market survey highlights and projections

• Expansion of organized retail sector, besides surging sales via online channels will presents attractive growth opportunities. Driven by this, fact mr predicts the market to rise at 8% cagr through 2023-2031
• Expansion of food service sector and focus on pocket-friendly yet efficient packaging solutions will drive Plastic Tray Market sales in india and china
• Prospects for growth remain optimistic in japan and south korea, backed by industrialization and favorable government policies.
• Sales within the u.s. Will account for maximum demand registered in north america.
• Demand will remain high in germany and the u.k. As both countries focus on technological improvements in packaging machineries.