Global Plastic Trays Market Outlook
The global plastic trays market is estimated at USD 7,500 Mn in 2022 and is forecast to surpass USD 11,400 Mn by 2032, growing at a CAGR of 4.3% from 2022 to 2032.
The global plastic trays market accounts for ~13% of the global plastic market in 2022. The global plastic trays market is estimated to have an absolute $ opportunity of USD 3,900 Mn during the assessment period of 2022-2032.
Global Plastic Trays Market by Category
- By Material Type :
- Polyethylene Terephthalate
- 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
- East Asia
- South Asia
Competitive Landscape: Top Companies in Plastic Trays Market
The global plastic trays market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced plastic trays products.
Fact.MR has provided detailed information about price points of top manufacturers of plastic trays positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report. For instance:
- Huhtamaki in 2019, introduced fibre-based ready meal trays, which can be recycled and is certified for home composting as well. It uses fibre as base material for production, sourced from a Swedish forest company Sodra.
- Berry Global Group Inc. acquired RPC Group Plc in the year 2019. This enhanced size of Berry Global, adding more than 150 factories and 23,000 employees to the company, thus, making it a true global packaging manufacturer.
What is the market scenario in the Asia-Pacific?
East Asia and South Asia plastic trays markets are contributing nearly 19.7% and 18.5% to the overall market share, respectively and are likely to provide 2/5th of the overall revenue of the plastic trays market during the assessment period of 2022-2032.
Asia Pacific region is becoming a manufacturing hub for electronics industries and is also witnessing high growth in end-use industries of meat & poultry, agriculture etc. which will primarily drive plastic trays in this region in coming years.