The global rigid trays market is forecasted to be appraised at US$ 85,986.3 million by 2032, up from US$ 58,650.8 million in 2022, advancing at a CAGR of 3.9% during the forecast period.
It is anticipated that the rigid trays market is majorly driven by the rapid expansion of the food & beverages industry, which in turn is fuelling the demand for bottles, fruit juice containers, jars, food package containers, and foodie bags.
Rigid trays provide ease of handling the products by consumers and help in carrying the products from one place to another by simple means.
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There is an increasing trend for ready-to-eat meals and it is anticipated that the number of online food deliveries has increased a lot. Therefore, these factors are making a significant contribution to driving the market growth for rigid trays.
Due to properties like a hermetic seal, the food remains alright for a longer span of time, and the freshness is retained, and this property is highly influencing the adoption of rigid trays for storage of food. The rigid trays are also being highly used in the pharmaceutical packaging industries to create medical blisters and printed cut seal lids, having a positive outlook on the growth of the rigid trays market in the upcoming years.
Rigid trays are used in various end use industries such as, the food & beverage, pharmaceutical industry, and the electrical and electronics industry, among others. Rigid trays are used for packaging of fresh and frozen dinners, fresh salads, fresh produce, meat, seafood and poultry.
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.
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Global rigid trays market: Geographical Outlook
The global rigid trays market has been divided into seven regions as follows –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
The Asia Pacific region is expected to account for the highest market value share in the global rigid trays market, owing to high population growth, coupled with increasing urbanization. The Western European region and the North American regions are expected to closely follow, in terms of value and volume. The Latin American region is expected to witness healthy growth during the forecast period. The region is yet to fully recover from the effects of the recession in 2015. Hence initial growth rate is expected to be moderate.
Global rigid trays market: Key Players
Few of the key players operating in the global rigid trays market are Pactiv LLC, Winpak Ltd., GY Packaging, Linpac Packaging Ltd., and EastCoast Packaging Corp, among others.
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The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global rigid trays market: Segmentation
On the basis of product type, the global rigid trays packaging market has been segmented as:
- Plastic rigid trays
- Metal rigid trays
On the basis of size, the global rigid trays packaging market has been segmented as:
- D1 Range
- D2 Range
- D13 Range
- D18 Range
- D15 Range
- Others
On the basis of material used, the global rigid trays packaging market has been segmented as:
- PP
- PET
- rPET
- HDPE
- HIPS
- PVC
- LDPE
- ABS
- Others
On the basis of end use industry, the global rigid trays packaging market has been segmented as:
- Pharmaceutical Industry
- Food & Beverage Industry
- Electrical and Electronics Industry
- Consumer Goods Industry
- Health Care Industry
- Others
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