Future Market Insights
Global rigid trays market: Introduction
Rigid packaging plays an important role in overall packaging market. Rigid trays can be used for fresh foods as well as processed foods. Rigid trays are designed to extend the shelf life of the product. Rigid trays are durable and are designed to provide oxygen barrier to maintain freshness of the packaged meal. Rigid trays are manufactured using a variety of materials, such as PET, rPET and PP. Rigid trays are also known by other names such as, thermoformed trays. 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. 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. Rigid trays are also used in pharmaceutical industries to create medical blisters and printed cut seal lids. Due to the wide range of application for rigid trays, the global market for rigid trays is likely to have a positive outlook, during the forecast period.
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.
Global rigid trays market: Segmentation
The global rigid trays market has been segmented as follows –
On the basis of product type, the global rigid trays packaging market has been segmented as:
On the basis of size, the global rigid trays packaging market has been segmented as:
On the basis of material used, the global rigid trays packaging market has been segmented as:
On the basis of end use industry, the global rigid trays packaging market has been segmented as:
Global rigid trays market: Geographical Outlook
The global rigid trays market has been divided into seven regions as follows –
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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