Key Insights- Plastic Tray Market
Tire 3 Players Account for More than 40% Revenue Share in the Plastic Tray Market
Tire 3 players are witnessing significant growth accounting 40-50% revenue share in the plastic tray market. Innovative and new product launches, developing cost-effective products, are the major focus areas of tire 3 companies. Meanwhile, tire 1 companies in the plastic tray market are engaged in expanding their manufacturing facilities, and emphasis on establishing a strategic alliance with the leading players and distributors across various regions.
Limited geographical presence of the emerging players is likely to restrict their growth. However, new product launches with unique features in the plastic tray market are boosting the growth of emerging companies in the plastic tray market.
Manufacturers See Growth Opportunities in European Plastic Tray Market
Resource-efficient and responsible approach to plastics in packaging by all the sectors and governing bodies in Europe is attracting more companies operating in the plastic tray market in the region. Proposed guidelines aimed at boosting recycling of PET plastic trays by Plastic Recyclers Europe (EuPR) is supporting the plastic tray market growth.
There has also been a significant growth in the use of PET plastic trays by the packaging industry in the region, thereby, presenting growth opportunities for plastic tray manufacturers in Europe.
Moreover, the European Commission has also established the Enterprise Europe Network to provide support to the companies planning to tap new growth opportunities in Europe.
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.
A study by the Journal of Cleaner Production found that the entire lifecycle of 1Kg plastic tray leads to around 1.538 Kg of CO2. Hence, to limit the amount of CO2 generated, companies are focusing on producing reusable plastic trays.
Recyclability of Black Plastic Packaging to Drive Plastic Tray Market Growth
The black plastic trays found large application in the food industry, especially for packaging ready meals. However, with rising focus on the recyclability of plastic trays, the majority of the companies have stopped using black plastic trays as these trays cannot be recycled due to the presence of carbon black pigment.
However, some companies in the plastic tray market along with government organizations, and other groups are trying to find a new solution and technology to provide black plastic packaging for various food items and other products.
The Waste and Resources Action Programme (WRAP) in the UK worked with key players in the retail supply chain to improve recyclability of black plastics. WRAP is encouraging plastic tray manufacturers to use detectable black colorants that enable black plastic packaging to be recycled.
Meanwhile, RECOUP in the UK has developed black plastic packaging recycling roadmap with an aim to introduce new detectable pigment, and develop a new technology solution to sort existing material for black plastic packaging. RECOUP is also leading a group including packaging manufacturers, retailers, packers, and trade associations.
Major retailers including Tesco, Marks and Spencer, and Sainsbury’s are working with Viridor, a waste management company to come up with a new solution on black plastic recycling.
Increasing Demand for Alternatives to Plastic Packaging to Hamper the Plastic Tray Market Growth
Consumers across the world are becoming increasingly involved in sustainability, thus demanding green products. Hence, manufacturers in the plastic tray market are focusing on providing alternatives such as plant-based plastics, palm leaves, cornstarch, paper trays, etc. According to UN Environmental Programme (UNEP), more than 8 million tons of plastic is being dumped in the ocean every year.
Manufacturers in the plastic tray market are moving towards adopting the eco-friendly alternative to plastic trays. Manufacturers are investing heavily in developing paper trays. Various industries including food, healthcare, cosmetics, and consumer electronics are using paper trays for packaging.
Paper tray manufacturers are also developing freezer-safe and microwave-safe paper trays. Advanced technologies such as modified atmosphere packaging, and thermoforming are used to include unique features to paper trays.
Bioplastics are also gaining popularity among end-use industries and consumers. Sources such as potato starch, sugar cane, the cellulose from trees are used to make bioplastics. Manufacturers in the plastic tray market are focusing on developing bioplastics that are energy-efficient to produce and biodegradable.
Research is also underway to develop fiber-based food trays as an alternative to plastic trays. For instance, Huhtamaki in partnership with Sodra and Saladworks is working on the EU funded project called as FRESH. The project is expected to continue till 2020 with an aim to provide a bio-based alternative to black plastic trays.
Immense Popularity of PET Plastic Tray Fueling Growth in Plastic Tray Market
Polyethylene Terephthalate (PET) is the most widely used plastic in developing plastic bottles and plastic trays. Owing to the various benefits such as a high-strength barrier to resist outside tampering, lightweight, and shatterproof makes it highly suitable for packaging food, pharmaceutical, and personal care products.
PET is highly recyclable, hence, it is finding large application in the plastic tray market. According to the group known as Plastic Recyclers Europe, nearly 700,000 tons of plastic trays are consumed in Europe yearly can be recycled as a valuable material. Increasing investment and new developments are leading to the growth in PET tray recycling capacities in Europe.
Companies facilitating recycling are introducing new technologies and machines to separate PET plastic trays from PET bottles. Owing to the different chemical composition of PET bottles and trays. Moreover, mixing them together can lead to contamination making them unusable in the market.
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The report offers a detailed profile of all the leading market players in the plastic tray market. Dashboard view on the key players is provided along with the SWOT analysis. Information on new developments, key strategies, market share and product portfolio of each of the key player is offered in the plastic tray market report.
Majority of the companies in the plastic tray market are focusing on recyclability and reusability of plastic trays. Research and development activities are also being conducted to introduce new product and solution in the plastic tray market. For instance, Huhtamaki Oyj is planning efficiency turnaround, which will result in closing of some of its non-competitive lines, due to lower than expected performance. However, Huhtamaki plans to improve its productivity by investing in automation.
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Plastic tray is a flat piece of plastic usually with high raised edges used for carrying things, especially food items. Different types of plastic materials are used to manufacture plastic trays such as polystyrene, PVC, polyethylene terephthalate, and polypropylene. Plastic trays are used across various industries such as food & beverages, retail, pharmaceuticals, electronics, industrial goods, and cosmetics.
About the Report
The report on the plastic tray market provides detailed analysis of the market along with key-insights. The report also highlights various factors influencing market growth such as new developments, on-going research activities, automation and use of new technologies by manufacturers in the plastic tray market.
The numbers in the report are provided in the form of value and volume. The report also offers historical data along with forecast on the plastic tray market.
The plastic tray market has been bifurcated on the basis of material type, form, end user, and region. The key segments are further divided into sub-segments to provide better insights into the market.
The material type in the plastic tray market is segmented into PVC, polypropylene, polyethylene terephthalate, polystyrene, and other materials. Form is categorized into flexible and semi-flexible. By the end-users, the demand for plastic tray can be seen in the food and beverages, industrial goods, electronics, pharmaceuticals, retail, cosmetics and personal care.
Additional Questions Answered
The report on the plastic tray market provide answers to some of the important questions such as
- Which type of material is widely used in developing plastic trays?
- Which is the most dominating country with high adoption and sales of plastic trays?
- Which industry uses plastic trays on a large scale?
- What are the factors responsible for the growth of the plastic tray market?
- Which form of plastic tray is largely preferred in the market by industries as well as customers?
The report on the plastic tray market is drafted using a unique methodology that includes both primary and secondary research. Interviews conducted as a part of primary research have been used to validate the data obtained from secondary research. With key insights and forecast offered in the plastic tray market report, it is likely to be an authentic source of information enabling market participants to plan their business strategies leading to a future expansion in the plastic tray market.
Request methodology of this Report.
The global plastic tray market has been comprehensively analyzed in a new research report published by Fact.MR on plastic tray market. The report provides key insights into the plastic tray market for the forecast period 2018-2027. The insights provided in the report help to offer accurate, unbiased, and precise analysis of the plastic tray market. The report focuses on all the factors shaping the overall growth of the plastic tray market. The report also offers a detailed investigation along with the secondary research of the competitive landscape of plastic tray market.
Chapter 1- Executive Summary
This chapter of the report on plastic tray market presents a summary of all the key findings and important numbers in form of value and volume. It also focuses on the key growth opportunities for market participants to expand globally.
Chapter 2- Market Data- Introduction
The chapter includes a brief introduction of the plastic tray market. It also provides a target product definition of the plastic tray along with the market taxonomy.
Chapter 3- Plastic Tray Market Dynamics Associated Industry Assessment
This section of the report provides information on various market dynamics including drivers, trends, challenges, and opportunity in the plastic tray market. The report also offers an impact analysis on the factors impacting the market growth.
Chapter 4- Associated Industry Assessment
This chapter of the report offers an overview of the plastic tray market. It also provides information on the packaging materials region-wise consumption. Data on the global plastic production along with the important acquisitions by the leading players in the plastic tray market is also offered in the report. It also offers information on the latest trends and innovations in the plastic tray market.
The chapter also includes PESTEL analysis, supply chain analysis, along with essential factors in the plastic tray market. The report also focuses on how various regulations and standards are impacting the plastic tray market in the packaging industry.
Chapter 5- Plastic Tray Market Analysis and Forecast
This section of the report provides market numbers in terms of volume (Mn Units) and value (US$ Mn). This chapter also includes segmentation of the plastic tray market. The market has been segmented on the basis of material type, end user, form, and region. The key segments are further divided into sub-segments. Essential data in form of value and volume is provided for all the key segments and sub-segments.
Chapter 6- North America Plastic Tray Market
This chapter focuses on the status of the plastic tray market in North America. The section provides details on the retail goods market and consumer products outlook in the region. The region is further segmented into countries including the US and Canada. North America plastic tray market analysis by the end user, material type, and form has also been provided in the report.
Chapter 7- Plastic Tray Market in Latin America
The current status of retail goods and consumer products market in Latin America is offered in the report. Market outlook along with the forecast numbers in terms of value and volume on the plastic tray market in Latin America is included in the chapter. The report on the plastic tray market provides an impact assessment of various market forces.
Chapter 8- Plastic Tray Market in Europe
The chapter includes a country-wise analysis of the plastic tray market in Europe. Numbers are provided in form of revenue, year-on-year growth, and volume. Information on all the key companies operating in the plastic tray market in Europe is provided in the report.
Chapter 9- Plastic Tray Market in Japan
Business outlook in Japan along with information on companies operating in Japan is provided in this section. Market attractiveness analysis on leading players in the region is included in the chapter.
Chapter 10- Asia Pacific Excluding Japan (APEJ) Plastic Tray Market
Key trends in the plastic tray market in the Asia Pacific Excluding Japan (APEJ) is given in the report. Market share comparison based on the segments in the region is provided in the report.
Chapter 11- The Middle East and Africa (MEA) Plastic Tray Market
The chapter provides information on the on-going trends, current state and new developments in the plastic tray market in MEA. Details on leading companies along with their market share in MEA plastic tray market is given in the report.
Chapter 12- Competitive Assessment
This section in the report offers details on the market structure, along with the analysis of company share. A dashboard view is also offered on all the leading market players in the report on plastic tray market. The information on the presence of the key players based on the region is also included in the report.
Chapter 13- Vendor Analysis
This section in the report provides in-depth analysis and detailed profiles of all the major players in the plastic tray market. The information on companies includes market share, key developments, business strategies, and product portfolio. SWOT analysis is also provided for each and every player in the plastic tray market.
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