Plastic Tray Market – Growth Assessment
The Plastic Tray Market is forecasted to witness a significant growth over the course of the forecast period according to a newly published report by Fact.MR. The study highlights the critical trends that are likely to mold the growth of the Plastic Tray Market in the forecast year 2018 to 2027. Further, the report introspects the various factors that are expected to influence the overall dynamics of the Plastic Tray Market.
The report is an essential tool for stakeholders, upcoming market players, established companies, and investors who are looking to establish a strong presence in the Plastic Tray Market landscape. A detailed understanding of the raw material suppliers, vendors, manufacturers, and other components of the supply chain is provided in report.
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Key Takeaways from the Report
- Current and future prospects of the Plastic Tray market in over the forecast period 2018 to 2027
- Opportunity analysis for investors and market players in various regional markets
- Regulatory and government policy framework relevant to the Plastic Tray Market
- Mergers, acquisitions, collaborations, and partnerships in the Plastic Tray Market
- Growth potential of the emerging market players in the Plastic Tray Market
The report caters to the following questions related to the Plastic Tray Market:
- What is the anticipated value of the Plastic Tray market in 2029?
- Who are the leading market players in the Plastic Tray Market in region 1 and region 2?
- Which region is expected to witness the highest growth in terms of value during the forecast period?
- How are market players in the Plastic Tray Market adjusting to the economic slowdown worldwide?
- Which country in region 3 is expected to have a majority of the market share during the assessment period?
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key players in the retail supply chain to improve recyclability of black plastics. WRAP is encouraging plastic tray manufacturers to use detectable black colorants that enable black plastic packaging to be recycled.
Meanwhile, RECOUP in the UK has developed black plastic packaging recycling roadmap with an aim to introduce new detectable pigment, and develop a new technology solution to sort existing material for black plastic packaging. RECOUP is also leading a group including packaging manufacturers, retailers, packers, and trade associations.
Major retailers including Tesco, Marks and Spencer, and Sainsbury’s are working with Viridor, a waste management company to come up with a new solution on black plastic recycling.
Increasing Demand for Alternatives to Plastic Packaging to Hamper the Plastic Tray Market Growth
Consumers across the world are becoming increasingly involved in sustainability, thus demanding green products. Hence, manufacturers in the plastic tray market are focusing on providing alternatives such as plant-based plastics, palm leaves, cornstarch, paper trays, etc. According to UN Environmental Programme (UNEP), more than 8 million tons of plastic is being dumped in the ocean every year.
Manufacturers in the plastic tray market are moving towards adopting the eco-friendly alternative to plastic trays. Manufacturers are investing heavily in developing paper trays. Various industries including food, healthcare, cosmetics, and consumer electronics are using paper trays for packaging.
Paper tray manufacturers are also developing freezer-safe and microwave-safe paper trays. Advanced technologies such as modified atmosphere packaging, and thermoforming are used to include unique features to paper trays.
Bioplastics are also gaining popularity among end-use industries and consumers. Sources such as potato starch, sugar cane, the cellulose from trees are used to make bioplastics. Manufacturers in the plastic tray market are focusing on developing bioplastics that are energy-efficient to produce and biodegradable.
Research is also underway to develop fiber-based food trays as an alternative to plastic trays. For instance, Huhtamaki in partnership with Sodra and Saladworks is working on the EU funded project called as FRESH. The project is expected to continue till 2020 with an aim to provide a bio-based alternative to black plastic trays.
Immense Popularity of PET Plastic Tray Fueling Growth in Plastic Tray Market
Polyethylene Terephthalate (PET) is the most widely used plastic in developing plastic bottles and plastic trays. Owing to the various benefits such as a high-strength barrier to resist outside tampering, lightweight, and shatterproof makes it highly suitable for packaging food, pharmaceutical, and personal care products.
PET is highly recyclable, hence, it is finding large application in the plastic tray market. According to the group known as Plastic Recyclers Europe, nearly 700,000 tons of plastic trays are consumed in Europe yearly can be recycled as a valuable material. Increasing investment and new developments are leading to the growth in PET tray recycling capacities in Europe.
Companies facilitating recycling are introducing new technologies and machines to separate PET plastic trays from PET bottles. Owing to the different chemical composition of PET bottles and trays. Moreover, mixing them together can lead to contamination making them unusable in the market.
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The report offers a detailed profile of all the leading market players in the plastic tray market. Dashboard view on the key players is provided along with the SWOT analysis. Information on new developments, key strategies, market share and product portfolio of each of the key player is offered in the plastic tray market report.
Majority of the companies in the plastic tray market are focusing on recyclability and reusability of plastic trays. Research and development activities are also being conducted to introduce new product and solution in the plastic tray market. For instance, Huhtamaki Oyj is planning efficiency turnaround, which will result in closing of some of its non-competitive lines, due to lower than expected performance. However, Huhtamaki plans to improve its productivity by investing in automation.
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Plastic tray is a flat piece of plastic usually with high raised edges used for carrying things, especially food items. Different types of plastic materials are used to manufacture plastic trays such as polystyrene, PVC, polyethylene terephthalate, and polypropylene. Plastic trays are used across various industries such as food & beverages, retail, pharmaceuticals, electronics, industrial goods, and cosmetics.
About the Report
The report on the plastic tray market provides detailed analysis of the market along with key-insights. The report also highlights various factors influencing market growth such as new developments, on-going research activities, automation and use of new technologies by manufacturers in the plastic tray market.
The numbers in the report are provided in the form of value and volume. The report also offers historical data along with forecast on the plastic tray market.
The plastic tray market has been bifurcated on the basis of material type, form, end user, and region. The key segments are further divided into sub-segments to provide better insights into the market.
The material type in the plastic tray market is segmented into PVC, polypropylene, polyethylene terephthalate, polystyrene, and other materials. Form is categorized into flexible and semi-flexible. By the end-users, the demand for plastic tray can be seen in the food and beverages, industrial goods, electronics, pharmaceuticals, retail, cosmetics and personal care.
Additional Questions Answered
The report on the plastic tray market provide answers to some of the important questions such as
- Which type of material is widely used in developing plastic trays?
- Which is the most dominating country with high adoption and sales of plastic trays?
- Which industry uses plastic trays on a large scale?
- What are the factors responsible for the growth of the plastic tray market?
- Which form of plastic tray is largely preferred in the market by industries as well as customers?
The report on the plastic tray market is drafted using a unique methodology that includes both primary and secondary research. Interviews conducted as a part of primary research have been used to validate the data obtained from secondary research. With key insights and forecast offered in the plastic tray market report, it is likely to be an authentic source of information enabling market participants to plan their business strategies leading to a future expansion in the plastic tray market.
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