Global Foam Trays Market was valued US$ XX Bn 2019 and is expected to reach US$ X.45 Bn by 2027, at a CAGR of X.24% during a forecast period.
Global Foam Trays Market, By Region
Large production in the field of pharmaceuticals, food and beverages are highly demanding for foam trays, is forcing the manufacturer to produce in huge amount will help this market to grow. In the year of 2019 the recorded foam tray production was XX kilo tonnes since, easy import and export facility is making foam trays product worldwide popular. Major key market competitors are emerging and entering for acquisitions for new launch and development in the market. Commodore Plastics is expected to join the Delco Packaging, which is the largest producer of foam egg carton trays will help this market to grow. Dolco LLC. Commodore is offering numerous custom and traditional polystyrene foam which covers supermarket display trays, padded food processors, industrial trays is generating numerous opportunities in terms of employment will increase the economic growth globally. On January 17, 2019, Tekni-Plex’s subsidiary Tri-seal expanded its closure liner offerings with the addition of three cost effective, co-extruded foam products. Tri-seal is known for closure liners and seal products manufactured from polyethylene foam, utilise in packaging of cosmetic product, pharmaceutical, agriculture, package food, chemical and health care products. Global market was valued US$ XX Bn 2019 and is expected to reach US$ X.45 Bn by 2027, at a CAGR of X.24% during a forecast period.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Attractive properties like durability, ease of handling, light weight, shock resistance, flexibility are driving the global foam trays market. Increasing demand and low cost for expanded polystyrene foam trays are the major driving factors for global foam trays market. Furthermore, low labor cost involved in the production of foam trays and prevalence of raw material is quite low, thereby further fuelling growth of the market. Various factors like increasing demand for fast moving consumer’s goods amongst the population and Concerns regarding the safety of food are increasing constantly, contributing in development in foam tray for packaging is expected to drive the market growth in coming years. Moreover, rising disposable income with high demand for food safety and hygiene between the residents is expected to boost the market currently and during the forecast years. The low product cost is attracting the market vendors to invest in the market is opening numerous opportunities will boost the market growth.
Furthermore, availability of bio-based products and ban on non-biodegradable products in some regions are hindering the global foam trays market growth over forecasted periods.
Foam Trays Market Segment analysis
In terms of application, food packaging sector is expected to dominate the market during the forecast year and was valued at US$ XX Bn in the year of 2019. As there is a requirement of improved barrier properties for the finished product, improved barrier and Strength Properties of foam trays helping the market to grow. Other noticeable factors like variation in size and shape of the product as per requirement lead to more options for the packaging purpose which is attracting the vendors to invest in the foam trays market. Furthermore, various food and beverages industries are requiring foam trays for log shelf life packaging of their product since growth of these industries are unstoppable, considered as a supporting market for the growth of foam trays market in coming years.
Revolutionary Novipax NoviNature Sustainable Foam Tray:
NoviNature is a sustainable tray made from a 100% renewable resource, Ingeo a revolutionary foam derived from plants. Similar to conventional foam trays, NoviNature trays are FDA compliant and offer a comparable resistance to moisture from product purge and condensation will allow the product to overcome to the limits associated with the environmental issue will boost the global foam trays market demand.
Foam Trays Market Regional analysis
Regionally, North America is anticipated to witness the fastest market growth during the forecast period expanding at a CAGR of XX% over the forecast period. Development in industrialization in this region, expected to show the fastest growth rate. growth in food and pharmaceuticals industries are driving the growth of the foam trays market in the North America region. U.S is leading in terms of consumption as trend of packed food amongst the population owing to the busy life schedule is fuelling the global foam trays market.
Besides, China from Asia Pacific region is recorded as second largest consumer and manufacturer of foam trays because of low production cost in the region is helping the market to grow, the Asia pacific market size was valued XX Bn at a considerable CAGR of X.3% is projected to witness a major economical fall in the market as region have been facing a major covid-19 pandemic outbreak throughout the globe, since china has faced a major drop in terms of value in because import and export sector has stopped due to quarantine trend across the globe.
The objective of the report is to present a comprehensive analysis of the Global Foam Trays Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Foam Trays Market dynamics, structure by analysing the market segments and project the Global Foam Trays Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Foam Trays Market make the report investor’s guide.
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Scope of Foam Trays Market
Global Foam Trays market, By Material Types
Global Foam Trays market, By Application
• Industrial Packaging
• Food Packaging
Global Foam Trays Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East Africa
Key Players Operating the Foam Trays Market,
• Reynolds Group Holdings Limited
• Dart Container Corporation
• Sealed Air Corporation
• Berry Plastics Group Inc
• DW Fine Pack LLC
• Coveris Holding SA
• Anchor Packaging Inc
• Placon Corporation Inc
• Groupe Guillin SA
• Sirap Gema S.p.a
• Berry Global Inc
• Cascades Inc
• Ecopax LLC
• Genpak, LLC
• Genpak LLC
• Sirap Group
• Pactiv LLC
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