The rigid trays packaging 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.
Rigid Trays Packaging 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 rigid trays packaging market size has grown strongly in recent years. It will grow from $290.94 billion in 2023 to $308.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to growth in the retail sector, an increase in awareness about food safety, growth in the food and beverage sector, growth in environmental concerns, and a rise in regulations and standards.
The rigid trays packaging market size is expected to see strong growth in the next few years. It will grow to $392.10 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing consumer preference for sustainable packaging solutions, increasing e-commerce sector, increasing consumer demand for convenience packaging, increasing urbanization and lifestyle changes, and increasing globalization and trade. Major trends in the forecast period include the adoption of smart packaging, customized and personalized packaging option, advancements in premium packaging, advancements in barrier technologies, and the adoption of automated manufacturing processes.
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Scope Of Rigid Trays Packaging 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.
Rigid Trays Packaging Market Overview
Market Drivers –
The surge in e-commerce is expected to propel the growth of the rigid tray packaging market going forward. E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the Internet. The surge in e-commerce is primarily driven by increased internet accessibility, advancements in technology, and a growing preference for online shopping due to its convenience and wider product selection. Rigid tray packaging in e-commerce is used to securely protect and organize products during transit, ensuring they arrive undamaged and in optimal condition. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, in the first quarter of 2024, U.S. retail e-commerce sales increased to $289.2 billion, an increase of 2.1% from the fourth quarter of 2023. Therefore, the surge in e-commerce is driving the growth of the rigid tray packaging market.
Market Trends –
Major companies operating in the rigid tray packaging market are focused on developing innovative products, such as compostable trays, to deliver sustainable alternatives to traditional foam trays. Compostable trays are eco-friendly containers designed to break down into organic material through composting processes. For instance, in April 2024, Sabert Corporation, a US-based food packaging company, launched compostable trays. Sabert Corporation’s compostable trays feature renewable and plant-based materials, ensuring that they are environmentally friendly and can completely break down in industrial composting facilities. These trays are designed to be sturdy and durable, providing reliable performance for food service applications. They offer heat tolerance and moisture resistance, making them suitable for a variety of food types. Additionally, the trays meet strict compostability standards, ensuring that they do not leave behind any toxic residues.
The rigid trays packaging market covered in this report is segmented –
1) By Type: Plastic Rigid Trays Packaging, Metal Rigid Trays Packaging
2) By Material: Plastic, Glass, Metal, Paperboard
3) By Application: Pharmaceutical, Food And Beverage, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the rigid trays packaging market in 2023. The regions covered in the rigid trays packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the rigid trays packaging market are WestRock Company, Ball Corporation, Amcor plc, Berry Global Inc., Smurfit Kappa Group, DS Smith Plc, Graphic Packaging International LLC, Sonoco Products Company, Silgan Holdings Inc., Pactiv Evergeen Inc., Sealed Air Corporation, AptarGroup Inc., Dart Container Corporation, Multivac Group, Klöckner Pentaplast, Printpack Holdings Inc., Winpak Portion Packaging Ltd., Coveris Holdings S.A., Genpak, CKS Packaging Inc., Greiner Packaging International GmbH, D&W Fine Pack, Anchor Packaging LLC, Placon Corporation< /b>
Table of Contents
1. Executive Summary
2. Rigid Trays Packaging Market Report Structure
3. Rigid Trays Packaging Market Trends And Strategies
4. Rigid Trays Packaging Market – Macro Economic Scenario
5. Rigid Trays Packaging Market Size And Growth
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27. Rigid Trays Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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