What are the Forecasted Market Size and Growth Rates for the Global Foam Trays Market?
The foam trays market size has grown strongly in recent years. It is projected to grow from $2.72 billion in 2024 to $2.89 billion in 2025, representing a compound annual growth rate (CAGR) of 6.5%. This growth rate can be attributed to factors such as food packaging demand, retail and supermarket chains, lightweight packaging, insulation and protection, and cost-efficiency.
The market size is anticipated to further expand to $3.89 billion in 2029, posting a CAGR of 7.7%. The growth drivers during the forecast period include increased adoption of e-commerce, rise in food delivery services, food safety and regulation measures, the popularity of ready-to-eat meals and convenience foods, product customization and branding, as well as emerging markets and urbanization.
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What Factors Will Drive the Foam Trays Market Growth?
Growing food safety concerns are touted as a key driver of the foam trays market in the coming years. Food safety involves the implementation of procedures for preparing, handling, and storing food to prevent foodborne illnesses and injuries. Foam tray foodservice packaging offers superior insulation, extends food freshness, and proves to be a cost-effective solution compared to other alternatives. With over 2.4 million instances of foodborne illnesses reported in the UK every year, the need for effective food safety solutions is emphasised, thus propelling the foam trays market growth.
What are the Major Segments Within the Global Foam Trays Market?
The foam trays market is broadly segmented by:
1) Material: Polyethylene, Polypropylene, Polyester, Polystyrene, Other Materials
2) Coverage Type: Food Grade, Industrial Grade
3) Application: Pharmaceuticals, Food and Beverages, Industrial, Other Applications
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Which Key Companies are Operating in the Foam Trays Market?
Major companies operating in the foam trays market include Sealed Air Corporation, Pactiv LLC, Anchor Packaging LLC, Placon Corporation Inc., D&W Fine Pack LLC, Coveris Holdings SA, Genpak LLC, Groupe Guillin SA, Berry Global Inc., Ecopax LLC, Dart Container Corporation, Reynolds Group Holdings Limited, Sirap Group, Novipax Inc., CKF Inc., Falcon Pack Industry LLC, Huhtamaki Oyj, Sabert Corporation, Novolex Holdings Inc., Inline Plastics Corp., Sonoco Products Company, Fabri-Kal Corporation, WinCup Inc., Cascades Inc., New WinCup Holdings Inc., PinnPACK Packaging LLC, Dolco Packaging Crop., Fagerdala USA Inc., Foam Products Corporation, Premier Protective Packaging.
What are the Emerging Trends in the Foam Trays Market?
Product innovation is a key trend shaping the foam trays market. Many leading companies are introducing innovative foam trays that feature bio-based material, durable and lightweight materials. For instance, TekniPlex, a US-based manufacturer of containers and packaging products, launched foam polypropylene processor trays for fresh food products including meat, poultry, pork, fruits, and vegetables. These lightweight, durable trays are FDA-approved for direct food contact and serve as a replacement for common foam polystyrene trays.
Which Region is Leading and Growing Fastest in the Foam Trays Market?
North America was the largest market for foam trays in 2024 and is projected to be the fastest-growing region during the forecast period. The foam trays market report includes regional analysis for Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does the Foam Trays Market Report 2025 Offer?
The market report provides insights into the product relevance and demand, stating that foam trays are extensively used in restaurants for takeaway food services and in the food packaging industry. Foam exhibits excellent thermal insulation properties, essential in keeping the contents at a consistent temperature. Whether hot or cold, foam trays ensure prolonged freshness and prevent beverage or liquid food leakage. Learn more and unlock valuable market insights by purchasing the exclusive report today: https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6134
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