The plastic tray market is projected to expand at a very slow phase with the global sales of plastic tray surpassing US$ 7,000 million by the end of 2018, according to the latest report by Fact.MR. Introduction of eco-friendly alternatives to the plastic trays such as fiber-based trays, bagasse or sugarcane trays, paper trays, and plant-based plastics are emerging as a threat in the growth of the plastic tray market. However, manufacturers in the plastic tray market are focusing on developing reusable and recyclable plastic trays.
Moreover, the rise in human health concerns due to use of plastic is also leading to the development of new products, for instance, companies have started offering BPA-free plastic products, including plastic trays, bottles, containers, and other products. Companies are also investing in the research and development of plastic trays that are safe to use across industries including food and beverages, personal care, pharmaceuticals, and consumer electronics.
Reusable Plastic Trays Gain Momentum in the Plastic Tray Market
Reusable plastic packaging is witnessing growing popularity across various industries. Improving supply chain performance, reducing the risk of damage and enhancing safety are some of the factors driving demand for reusable plastic packaging. The food industry is moving fast towards adopting reusable plastic trays.
Reusable plastic trays are being designed with a better locking system and produced from high-density polyethylene to ensure food safety for a long time. Leading producers of dairy, red meat, baked, and poultry products are focusing on providing reusable plastic trays as it reduces expenses, optimizes supply chain, and offer sustainability.
European Union also recently declared its new policy agenda with the goal to make all the plastic packaging in the EU market to be reusable and recyclable by 2030. Manufacturers in the plastic tray market are producing reusable plastic trays instead of single-use plastic trays.
Following Questions Answers Covered in the Report are:
- How will the global Plastic Tray Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Plastic Tray Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Plastic Tray Market?
- How will these strategies influence the market growth and competition?
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
Europe is likely to emerge as one of the most dominating regions in the plastic tray market, as per the report by Fact.MR. Europe has already introduced regulations and guidelines with the aim to boost the recycling of PET plastic trays.
Meanwhile, the European Commission has also introduced new rules to ban single-use plastic products from the market. This is likely to hamper the plastic tray market growth in the region. However, manufacturers in the plastic tray market in Europe are focusing on developing reusable and recyclable plastic tray products.
Flexible plastic trays in the plastic tray market are expected to witness the highest sales during the forecast period. Reusability, lightweight, enhanced protection, shipping friendly, longer shelf life, are some of the benefits offered by flexible plastic trays. Hence, the adoption of flexible plastic trays is increasing across various industries.
The overall outlook for the plastic tray market is likely to remain sluggish, with the plastic tray market expected to reach CAGR of 3.6% in terms of revenue during 2018-2027.
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