By 2032, the market for rigid trays is expected to be valued at US$ 85,986.3 million, up from US$ 58,650.8 million in 2022, growing at a CAGR of 3.9%. Rigid trays are selling better since they are a crucial component of the entire packaging business. Plastic polymers like polypropylene (PP), high-density polyethylene (HDPE), and polyethylene are used in the rigid trays market. Because they are so strong and light, rigid trays are in higher demand. Additionally, rigid trays can be used to package both fresh and processed meals, and they are made in a way that increases the items’ shelf lives.
Rigid trays can be refrigerated using eutectic pads. PP rigid trays and pet rigid trays provide optimal rigidity, durability. Due to the property of hermitic seal the food remains airtight for longer time so that freshness of the food can be retained for the longer period of time, thereby enhancing shelf life of the product. Due to this property, the market for rigid trays is expected to receive a major boost, over the forecast period.
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Global rigid trays market: Dynamics
One of the key factors, which is expected to contribute to growth of the global rigid trays market is growth in the number of retail outlets, especially in the emerging economies, along with increasing penetration of modern trade. Emergence of online food service apps has paved way for growth of the rigid trays market. The global rigid trays market is expected to grow on the backdrop of food and beverage industries growth, which is currently staggering around 5%.
As more developing countries continue to witness rise in the number of retail outlets, and changing consumer preferences and food consumption habits, the global rigid trays market is expected to witness healthy growth during the forecast period. Change in lifestyles of urban population in emerging economies such as India, has paved way for adoption of the on-the-go food consumption trend, which is expected to further boost the APEJ, and ultimately, the global rigid trays market.
One of the major challenges posed to growth of the global rigid trays market is in the form of government rules and regulations against the use of thermoformed trays, which are difficult to decompose.
What are the Driving Challenges in the Rigid Trays Market?
Although there are a number of factors that are contributing to the advancement of the rigid trays market growth, there are some of the restraining factors identified that are likely to curb the market growth of rigid trays during the forecast period.
Rigid trays are most commonly manufactured from plastics, which is a major cause of environmental pollution. Therefore, strict government regulations regarding the usage of plastic for food packaging may hinder the growth of this product market. The thermoformed trays are difficult to decompose and is serving as a major restraining factor.
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Competitive Landscape
Who are some of the Key Market Players in the Rigid Trays Market?
The key market players profiled in the report include
- ALPLA-Werke Alwin Lehner GmbH & Co KG,
- Amcor Limited,
- DS Smith Plc,
- Berry Plastics Corporation,
- Klöckner Pentaplast,
- Plastipak Holdings, Inc.,
- Pactiv Evergreen Inc,
- Sealed Air Corporation,
- Silgan Holdings, Inc., and
- Sonoco Products Company.
The key players in this market adopted product launch, partnership, and expansion as their key strategies to meet the changing consumer demands.
Recent Developments in the Rigid Trays Market
- In May 2019, Klöckner Pentaplast partnered with the German Plastic Packaging Industry Association (IK) to start a pilot project for the recycling of PET food plastic trays. The pilot project is aimed toward creating a closed-loop recycling process, especially for recycling rigid plastic trays used for food packaging and utilizing recycled plastic for new product manufacturing.
- ALPLA Group continued to pursue its plan of increasing its recycling activities globally in September 2020. The family-owned Austrian company is now constructing an HDPE recycling factory in Mexico. Each year, it intends to create 15,000 tonnes of post-consumer recycled material.
- Amcor used its cutting-edge engineering and design technology in November 2020 to create the lightest 900-ml Polyethylene Terephthalate (PET) bottle for edible oil in Brazil. The custom-designed container for agribusiness and food producer Bunge in So Paulo is 22% lighter than competitor bottles, resulting in higher productivity and sustainability benefits.
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Key Market Segments in the Rigid Trays Market
By Product Type:
- Plastic rigid trays
- Metal rigid trays
By Size:
- D1 Range
- D2 Range
- D13 Range
- D18 Range
- D15 Range
- Others
By Material Used:
- PP
- PET
- rPET
- HDPE
- HIPS
- PVC
- LDPE
- ABS
- Others
By End-Use Industry:
- Pharmaceutical Industry
- Food & Beverage Industry
- Electrical and Electronics Industry
- Consumer Goods Industry
- Health Care Industry
- Others
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