Food Paper Tray Market: Market Overview
Since last few years, catering and food delivery systems have experienced extensive positive growth. These services are racing against the clock for the faster delivery. Thus, it has become very necessary to the manufacturers to find out easy to use yet highly sustainable food packaging trays. Food paper trays has considerable barrier properties against spillage, temperature, and moisture. Also as per consumer’s demand and convenience, these food paper trays are available with partitions, for better food serving. The strong demand for food paper trays is driven due to their cost-effectiveness and biodegradability. The food paper trays serves demand for both hot and cold food items, which make them more popular and versatile among the consumers. Owing to its ease of usage and pricing affordability, food paper trays are widely used in cafes or restaurants. Furthermore, rising consumer’s awareness about the usage of eco-friendly and biodegradable products including food paper trays is anticipated to strengthen the market growth during the forecast period.
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Food Paper Tray Market: Market Dynamics
Due to the rising environmental concerns, in many countries governments are giving more weightage on the use of biodegradable and recyclable products. Some stringent regulations are imposed against the usage of plastics since last decade. This is one of the vital reason behind the growth of food paper tray market. Rapidly expanding organised e-retail sector helped in the increasing demand of the food paper tray market. Because of the growing penetration of super markets and hypermarkets food paper tray market is influenced greatly. Innovations such as molded paper trays are keeping consumers attracted towards the food paper tray market. The factors like big brands are shifting towards food paper trays and growing flourishing food services industry are boosting the growth of the food paper tray market significantly. Additionally, changing consumer’s preferences from rigid to flexible packaging contributing is also contributing to the food paper tray market growth.
Additionally, since the COVID-19 outbreak in December 2019, the disease has spread to nearly about 100 countries all over the world. This pandemic have showed major impacts on foodservice industry including food paper tray market as well. The food industry is one of the most affected industry during the COVID-19 pandemic. Reduced consumption of outside food, especially packaged food has induced the negative impact on the demand for food paper trays market. All these factors are likely to restrict food paper trays market growth to a certain extent.
Food Paper Tray Market: Segmentation
On the basis of source of the material, global food paper tray market can be segmented as:
- Virgin Fiber
- Recycled Fiber
On the basis of number of compartments, global food paper tray market can be segmented as:
- 2 compartments
- 3 compartments
- 4 compartments
- 5 compartments
On the basis of stiffness, global food paper tray market can be segmented as:
On the basis of Sales Channel, global food paper tray market can be segmented as:
- Specialty Stores
- Convenience Stores
- Warehouse/wholesale clubs
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Food Paper Tray Market: Regional Outlook
Based on the geography the leading manufacturers operating in the global food paper tray market are collectively accounting maximum profit from North America and Europe regions, on the back of frequent consumption of packaged food. Factors such as shifting inclination towards sustainable packaging solutions coupled with multiple improvisations in the organized retail industry in South Asia and East Asia regions are also contributing substantially to the food paper tray market growth. Furthermore, stringent regulations on the use of single use plastic in emerging economies such as China and India offers lucrative opportunities to the food paper tray manufacturers to maximize their sales. Moreover, rising foodservice outlets and growing demand for packaged food in the MEA region is reinforcing the food paper tray market growth to a certain extent.
Food Paper Tray Market: Key Players
Some prominent players in the global food paper tray market:
- Mondi Group Plc
- Huhtamaki Oyj
- Billerud AB
- Stora Enso Oyj
- International Paper Co.
- Brodrene Hartmann A/S.
- UFP Technologies, Inc.
- Fibercel Packaging LLC.
- ESCO Technologies Inc.
- Pactiv LLC
- OrCon Industries Corporation
- Henry Molded Products, Inc
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on food paper tray market segments and geographies.
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