Global Foam Trays market segments 2024, Forecast To 2033
31 Jan, 2024
The foam trays market has exhibited strong growth, advancing from $2.56 billion in 2023 to $2.74 billion in 2024, with a compound annual growth rate (CAGR) of 6.8%. The historic period attributes this growth to the demand for food packaging, the influence of retail and supermarket chains, the preference for lightweight packaging, considerations of insulation and protection, and a focus on cost-efficiency. Forecasts for continued strong growth are set at $3.58 billion in 2028, with a CAGR of 6.9%. This growth is linked to the expansion of e-commerce and food delivery services, considerations of food safety and regulations, the popularity of ready-to-eat meals and convenience foods, a focus on customization and branding, and the influence of emerging markets and urbanization. Key trends in the forecast period include technological advancements, the rise of online food delivery and takeout, innovative material development, considerations of food safety and packaging regulations, and the exploration of alternative packaging solutions.
Global Foam Trays Market Key Driver
Increasing food safety concerns are expected to drive the growth of the foam trays market. Food safety procedures are designed to prevent foodborne illnesses, with foam trays serving as effective packaging. According to the UK Research and Innovation, over 2.4 million instances of foodborne illnesses are reported annually in the UK. The rising concerns about food safety contribute to the growth of the foam trays market.
Get A Free Sample Of The Global Foam Trays Market ReportGlobal Foam Trays Market Segments
The global 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
By Geography: The regions covered in the Foam Trays market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North Americawas the largest region in the foam trays market in 2023. North Americais 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.
Major Foam Trays Industry Players
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
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Foam Trays Market Overview
The foam trays are used to serve takeaway food from restaurants. The foam functions as a good thermal insulator, making the container simple to carry while also keeping the food at the temperature it was at when it was filled, whether hot or cold. Foam trays are mainly used in the food packaging industry to help prevent liquids from leaking into packaged food and beverages.
Foam Trays Global Market Report 2023 provides data on the global foam trays market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The foam trays market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.