Food & Beverages Industry Contribute Around 32.7% Share in Global Sales of Plastic Trays

The market
for plastic trays is anticipated to reach USD 7,500 million in 2022 and surpass
USD 11,400 million by 2032, growing at a CAGR of 4.3% between 2022 and 2032.

 

In 2022, the
global plastic tray market will represent 13% of the total plastic market.
During the assessment period of 2022–2032, the global plastic
tray market is predicted to have an absolute $ opportunity of
USD 3,900 Mn.

 

Additionally,
the increased concerns about human health brought on by the use of plastic are
also inspiring the creation of new products. For instance, businesses have
begun selling plastic trays, bottles, containers, and other items that are
BPA-free. Additionally, businesses are spending money on developing plastic
trays that are secure for use in a variety of fields, including food and drink,
personal care, pharmaceuticals, and consumer electronics.

 

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Attributes

Details

Base Year
Value (2021A)

USD 7,300
Mn

Estimated
Year Value (2022E)

USD 7,500
Mn

Projected
Year Value (2032F)

USD 11,400
Mn

Value CAGR
(2022-2032)

4.3%

Collective
Value Share (US, UK, Germany) 2022: Top 3 Countries

28.9%

 

Black plastic’s recyclable nature is
boosting the market for plastic trays.

In the food
industry, prepared meals are packaged in black plastic trays. However, because
black plastic trays contain black carbon pigment and cannot be recycled,
manufacturers have stopped using them.

 

The Waste
and Resources Action Programme, or WRAP, of the United Kingdom works to
increase the recyclable nature of black plastics. According to WRAP, recycling
of black plastic packaging is made possible by the use of detectable black
colourants during the production of plastic trays.

 

Which geographical area dominates the
market for plastic trays?

The plastic
tray market in Europe dominates the industry as a whole. It contributes roughly
24.5% of the market share overall and is anticipated to maintain this trend.
The European Union announced a new policy agenda that would be completed by
2030. By the end of 2030, it aims to make all plastic packaging in the EU
market reusable and recyclable, which will likely result in a 50% increase in
demand for the material there.

 

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Leading Companies in the Plastic Trays
Market: Competitive Landscape

Due to the
presence of numerous domestic and regional competitors, the global plastic tray
market is highly fragmented and competitive. Key players use a variety of
marketing tactics, including mergers and acquisitions, expansions,
collaborations, and partnerships.

 

Additionally,
the top businesses use new product development as a strategic approach to
enhance their market presence among consumers. Advanced plastic trays products
have been incorporated as a result of these strategies.

 

For instance:

·        
Huhtamaki introduced fibre-based ready meal
trays in 2019, which can be recycled and are also certified for home
composting. It sources fibre 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 Companies Profiled

·        
DS Smith

·        
RPC Bebo

·        
Huhtamaki

·        
Winpak Ltd.

·        
EasyPak

·        
VisiPak

·        
Lacerta Group, Inc.

·        
Landmark Plastic Corporation

·        
D&V Plastics

·        
Placon

·        
Sonoco Products Company

 

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Global Plastic Trays Market by Category

By
Material Type :

PVC
Polypropylene
Polyethylene Terephthalate
Polystyrene

 

By
Form :

Flexible Plastic Trays
Semi-Flexible Plastic
Trays

 

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

* This article was originally published here