The foam trays global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Foam Trays Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The foam trays market size has grown strongly in recent years. It will grow from $2.56 billion in 2023 to $2.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to food packaging demand, retail and supermarket chains, lightweight packaging, insulation and protection, cost-efficiency.
The foam trays market size is expected to see strong growth in the next few years. It will grow to $3.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to e-commerce and food delivery services, food safety and regulations, ready-to-eat meals and convenience foods, customization and branding, emerging markets and urbanization. Major trends in the forecast period include technological advancements, online food delivery and takeout, innovative material development, food safety and packaging regulations, alternative packaging solutions.
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Scope Of Foam Trays Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Foam Trays Market Overview
Market Drivers –
Increasing food safety issues are expected to propel the growth of the foam trays market going forward. Food safety refers to procedures for preparing, handling, and storing food that is designed to avoid foodborne sickness and injury. Foam trays foodservice packaging insulates better, keeps food fresher for longer, and is less expensive than other options. For instance, in June 2022, according to the UK Research and Innovation, a UK-based government department, in the UK, there are over 2.4 million instances of foodborne illnesses each year. Therefore, the increasing food safety issues drive the growth of the foam trays market.
Market Trends –
Product innovations are the key trend gaining popularity in the foam tray market. Major companies are developing innovative foam trays offering features such as bio-based material, durable and lightweight materials to sustain their position in the market. For instance, in January 2022, TekniPlex, a US-based manufacturer of containers and packaging products, launched foam polypropylene processor trays for fresh food products such as meat, poultry, pork, fruits, and vegetables, diversifying material offerings in this category. The material is long-lasting, lightweight, heat-resistant, and FDA-approved for direct food contact. Foam polypropylene is also a drop-in replacement for common foam polystyrene trays, so there is no need for businesses to undertake the extra work or cost of retooling packing equipment.
The foam trays market covered in this report is segmented –
1) By Material: Polyethylene, Polypropylene, Polyester, Polystyrene, Other Materials
2) By Coverage Type: Food Grade, Industrial Grade
3) By Application: Pharmaceuticals, Food and Beverages, Industrial, Other Applications
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Regional Insights –
North America was the largest region in the foam trays market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the foam trays market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Foam Trays Market Report Structure
3. Foam Trays Market Trends And Strategies
4. Foam Trays Market – Macro Economic Scenario
5. Foam Trays Market Size And Growth
…..
27. Foam Trays Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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