Ready Meal Trays Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2027

Published on : Sep-2019 | List of Tables : 160 | List of Figures : 134 | No. of Pages : 170 | Report Code : FACT4189MR |

Ready Meal Trays, A Recyclable Alternative to Conventional Plastic Trays has Immense Applicability

The global-ready meal trays market continues to gain huge traction among end use applications, with worldwide sales assessed to increase by nearly 2.0 times in 2027 from 2019 and estimated to be over US$ 1,900 Mn in 2019 according to a recent study published by Fact.MR.

Demand for ready-to-eat food products is seeing a high growth in metros where a lot of working people don't get enough time to cook proper meals. Ready meal trays are frequently being used in the food service and catering (including airline catering) industry. Changing eating habits have resulted in a wider acceptance of ready-to-eat foods, driven by increased preference for comfort food. Increasing demand for convenient-to-carry packaging alternatives for differentiating food products based on features such as kosher, medicinal, organic and seasonal goods is also being witnessed in the worldwide market for ready-to-carry food trays. Manufacturers of ready meal trays are incorporating the use of Omni-recyclable PET lids to maintain the freshness and high nutritional value in these products which is contributing greatly to the development of the ready meal trays market.

Trays made from normal polymer foams deform at elevated temperatures but ready meal trays made from PET and CPET materials withstand elevated heat applications and can be used for baking in any conventional or microwave oven. Major suppliers engaged in the market for ready meal trays have implemented several other comfort characteristics for food packaging, such as mobility, easy-to-open and single-use packaging, which is anticipated to contribute to the development of the worldwide market for ready meal trays.

global ready meal trays market

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Reusable Plastic Gaining Momentum and Changing Market Needs

Fully recyclable ready meal trays are becoming increasingly popular across different sectors. Improving the efficiency of the supply chain, decreasing the likelihood of harm and improving safety are some of the variables driving demand for ready meal trays. The food industry is moving quickly towards the adoption of fully recyclable ready meal trays. The European Union has also lately announced its new policy agenda with the aim of making all plastic packaging on the EU market reusable and recyclable by 2030. Manufacturers in the plastic tray industry are manufacturing fully recyclable ready meal trays instead of Omni-recyclable ready meal trays. For example, Saintsbury’s in all its national stores replaced non-recyclable black plastic trays with ready meal trays made from natural CPET.

There has also been a substantial increase in the use of PET ready meal trays by the packaging industry in the region, creating growth possibilities for ready meal trays producers in Europe. In addition, the European Commission has also set up the Enterprise Europe Network to help businesses tap into fresh development possibilities in Europe. The resource-efficient and accountable strategy of using plastics in packaging across all industries and governing bodies in Europe will attract more businesses working in the ready meal trays market in the region. The proposed rules for boosting the recycling of PET plastic trays by Plastic Recyclers Europe (EuPR) supports the development of the market for plastic trays.

Fully recyclable ready meal trays are intended with a better locking mechanism and manufactured from high-density polyethylene to guarantee food safety for a long time. Leading manufacturers are concentrating on offering fully recyclable ready meal trays, reducing costs, optimizing the supply chain, and offering sustainability.

global ready meal trays market 01

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 Regulatory Restrictions on Paperboard, Aluminum and Styrofoam to Give Impetus to Ready Meal Trays Market

An increasing number of retailers, food suppliers, convenience stores, caterers and online food delivery services, find several benefits when switching from customary Styrofoam, paperboard and aluminum material trays to ready meal trays. Few major cities in the United States have already banned the use of Styrofoam due to their disposable problems as it is very difficult to recycle them. Many food industry players are looking for an alternative for Styrofoam packaging, ready meal trays being the solution for them. Ready meal trays can also be used for vacuum and gas packaging. Recently developed MAP (Modified Atmospheric Packaging) trays also utilize ready meal trays to monitor the amount of oxygen being sealed with food products to increase the overall shelf life.

 Fiber Based Ready Meal Trays to be a Key Strategy of Leading Market Players

The global-ready meal trays market is hugely fragmented with the existence of a number of private suppliers. The industry is competitive, and the competition between suppliers is primarily based on variables such as cost, the inclusion of fortified ingredients, preparation time, product and packaging innovation, brand image, and product promotion. Some of the recent developments within the global ready meal trays market are:

  • In 2019, Packaging and labeling company Huhtamäki developed a new fiber-based ready meal tray for U.K. supermarket chain Waitrose & Partners. The ready meal tray features a novel fiber-based tray suited for both microwave and regular ovens.
  • In 2019, Supermarket company, Waitrose limited introduced a new fiber-based ready meal tray which can be recycled along with waste paper, to be used for the Italian range of ready meals. This new material comes from sustainable materials and produces 50 percent less carbon dioxide than the production of black plastic.
  • In 2019, British supermarket chain Waitrose launched home-compostable ready meal trays. The new range of ready meal trays are a collaborative project between the Swedish forest company Södra, Huhtamakia and Saladworks and is expected to reduce C02 emissions by 50 per cent.  

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Global Ready Meal Trays Market – Scope of the Report

The following report provides forecast and analysis of the global ready meal trays market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Mn Units), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global ready meal trays market along with several macro-economic indicators. This newly published and insightful report on ready meal trays sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global ready meal trays market.

The report also comprises the study of current issues with end users and opportunities for ready meal trays. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of ready meal trays manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the ready meal trays market provided in the report adds to the credibility of this exhaustive research study.

Global Ready Meal Trays Market: In-Depth Assessment on Key Segments

The global ready meal trays market is segmented on the basis of type, capacity, material, end use and region.  

Type

Capacity

Material

End Use

Region

Portioned Trays

Upto 250 gms  

Polypropylene

QSR and FSR

North America 

Perforated Trays

250-500 gms 

Crystallized Polyethylene Terephthalate (CPET)

Transportation Catering Services

Latin America

 

More than 500 gms

Aluminum

Institutional Catering Services

Europe 

 

 

Other Materials (HDPE, HIPS, etc.)

Retail Sales

East Asia 

 

 

 

 

South Asia & Oceania 

 

 

 

 

MEA

Country-specific assessment on demand for ready meal trays has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous ready meal trays manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.

The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the ready meal trays market are Quinn Packaging, Genpack, Sealed Air Corporation and MCP Performance Plastics.

Global Ready Meal Trays Market: Research Methodology

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the ready meal trays market.

For ascertaining the market size on the basis of volume and value, revenues generated by leading players, coupled with their production capacities are taken into consideration which is backed by a proven & tested research approach, the report offered necessary information on the ready meal trays market. Qualitative aspects gained from industry experts and opinion leaders have also been adhered to by the analysts while developing this insightful report on the global ready meal trays market. Secondary research is leveraged for ascertaining the overall size of the ready meal trays market.

A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the ready meal trays market, which includes global GDP growth rate, various industries growth rate, such as foaming, surface coating, and automotive paints. This report serves as an authentic resource of intelligence on the ready meal trays market, enabling the readers to take fact-based decisions on the future direction of their businesses.

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Ready Meal Trays Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2027