Shifting Consumer Focus towards Hygienic Packaging Driving the Aluminum Trays Market
The global aluminum trays market is estimated to register strong growth over the forecast period on the backdrop of the rising food & beverage industry and growing demand of hygienic packaging solutions around the globe. The global market for aluminum trays is expected to reach over 33 Bn units by 2027 end and grow with a volume CAGR of over 5.5% during the forecast period from 2019 to 2027.
Furthermore, the demand for hygienic packaging products is increasing exponentially across the world. In this scenario the aluminum trays are emerging as a popular solution owing to their high recyclability, cost-effective and light-weight nature. The aluminum trays are also better for food preservation and decrease food contamination possibilities, which makes them a hygienic packaging solution.
The manufacturers are also focusing on manufacturing lacquered aluminum trays to make them more safe and hygienic. For instance, Alucoat, a leading manufacturer of lacquering aluminum coating foils developed Alucoat® cs. It is a new design of aluminum foil coated on both sides and can be used to manufacturer aluminum trays, pans and other containers.
Additionally, the aluminum trays can endure extreme temperature change, and can be used in microwave ovens. This makes the aluminum trays an efficient and easy to clean container in the food & beverage market.
These abovementioned factors are expected to propel the demand of aluminum trays in the global market. Also, the growing acceptance of aluminum trays in food service and other applications is due to its grab-and-go feature, light-weight nature and easy storage. These factors are likely to push the global aluminum trays market growth during the forecast period.
Increased Shelf Life, a Major Growth Engine for Aluminum Trays
One of the key factors that increases preference for aluminum trays in the market is its extended shelf-life. A significant amount of food products are spoiled due to exposure to air and moisture, thereby increasing the need for effective packaging that can protect the food products.
As a result, vendors and retailers prefer packaging solutions that provide extended shelf-life. The excellent barrier properties of aluminum trays make it possible for vendors to increase transit distance of packaged products. For instance, thin aluminum trays can protect the food from air, light, oxygen, and moisture. Therefore, aluminum trays have emerged as one of the most prominent food packaging techniques.
Nowadays pasteurization is the most common process used to heat-treat food and extend the shelf life of a product considerably. However, not all the packaging can withstand the shelf life extension technique and high temperature fluctuations.
The solution for this challenge is the use of coated aluminum trays with a specially developed layer for heat-stability. The coated aluminum trays are becoming a key trend in the global market owing to expected shelf life of food products.
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Growth of Ready-To-Eat Meals and Processed Food
North America and Europe have witnessed an increased growth in the packed food market, creating an absolute need for good quality high barrier packaging solutions. The ready-to-eat meals and processed food market has witnessed significant growth, resulting in increased demand for high barrier packaging solutions such as aluminum trays.
Additionally, the dynamic shapes of aluminum trays provide an effective means of stacking and can efficiently utilize the space. The rigid compartmental aluminum trays are the perfect example of dynamic shapes of aluminum trays.
They are generally used for the packaging of whole, ready-to-eat meals in one tray. These abovementioned factors play an important role in the growth of the global aluminum trays market
Alternative Barrier Packaging Solutions, a Potential Hindrance for Market Growth
Aluminum trays faces direct competition and is constantly challenged by alternative packaging solutions such as metallized substrates, oxide coating, and barrier polymers. Barrier polymers such as polyvinyl alcohol, PVC, and cellophane are also gaining traction in the market as the world advances in its understanding of polymeric formulations.
Such progress could hamper the growth of the global aluminum trays market. For instance, foil labels on glass bottles were replaced by metallized paper, many years ago. Today, the snack food packaging and fractional coffee pack market is dominated by metallized film. This could be a potential obstacle in the growth of global aluminum trays market.
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Expansion and Product Launch to Remain a Key Strategy Followed by Industry Giants
The global aluminum trays market is estimated to be a fragmented market with a large number players present in the global market. Some of the key manufacturers engaged in the global aluminum trays market includes, Nicholl Food Packaging Ltd, Durable Packaging International, Formacia, ENVASES DEL PLATA S.A., Artekno, Roihu Inc., Contital Srl, Wyda Packaging (Pty) LTD., Alufoil Products Pvt. Ltd, i2r Packaging Solutions Limited and others.
These market participants play a prominent role in the transformation and development of the global aluminum trays market. The leading players are primarily involved in the expansion and acquisition activities and are also performing R&D for the development of new products.
- On 2nd February 2019, i2r Packaging Solutions Limited, a leading aluminum trays manufacturer launched a new tray design i2r Ultra™ in the global market. These new aluminum trays are lightweight and cost-effective which gives the company a competitive advantage in the global aluminum trays market.
- On 16th September 2019, Confoil, a manufacturer of aluminum trays, launched a new range of aluminum foil packaging solutions. The new product range includes, foil serving trays for food preparation and serving needs.
- On 1st March 2018, i2r Packaging Solutions Limited announced the expansion of its production capacity for aluminum packaging products to gain market share in the global aluminum trays market.
These product innovation and expansion strategies will enable key market players to consolidate their position in the global market.
Aluminum Trays Market: In-Depth Assessment on Key Segments-
The global aluminum trays market is segmented by product, capacity, end use and region.
Country-specific assessment on demand for the aluminum 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 aluminum trays manufacturers, experts and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Aluminum Trays Market – Scope of the report
This report provides forecast and analysis of the aluminum trays market. It provides historical data of 2013 along with estimated data for 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 key trends that are currently influencing growth of the aluminum trays market along with the macro-economic indicators. This newly published and insightful report sheds light on key dynamics, and their impact on overall value chain from raw material suppliers to end users, which are expected to transform the future of the aluminum trays market.
The report also comprises the study of current issues with end users and opportunities for aluminum trays in the global market. It also contains value chain analysis along with key market participants.
In order to provide users of this report with a comprehensive view of the aluminum trays market, we have included detailed competitive analysis about market key players. The dashboard provides a detailed comparison of aluminum trays manufacturers on parameters such as total revenue, market presence and key developments. A list of key companies operating in the aluminum trays market provided in the report adds to the credibility of this exhaustive research study.
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 forecast based on constant currency rates. The report provides detailed competitive overview and company profiles of key participants operating in the global aluminum trays market.
Some of the key players operating in the aluminum trays market analyzed are ENVASES DEL PLATA S.A., Formacia, Durable Packaging International, Nicholl Food Packaging Ltd, Artekno, Roihu Inc., Wyda Packaging (Pty) LTD., Alufoil Products Pvt. Ltd, Contital Srl, i2r Packaging Solutions Limited, and others
Aluminum Trays Market: Research Methodology
The aluminum trays market numbers pertaining to the regional as well as country level data and various segments i.e. product type, thickness and end use are estimated through the combination of primary and secondary research among target countries and regions, and are verified both by applying the bottom-up and top-down approach. Secondary sources include Morningstar, Factiva, association publication, industry magazines and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the data and insights obtained have been used for validating the information of aluminum trays gained through secondary sources.
The report also includes a description of assumptions and acronyms utilized for research purposes. The data triangulation process is used for cross checking of the collected and analyzed data from the supply as well as the demand side for aluminum trays.
For assessment of the market size on the basis of value and volume, revenues generated by leading players, coupled with their production capacities are taken into consideration. Backed by a proven & tested research approach, the report offers necessary information on the aluminum trays market.
Other qualitative findings and perspectives are gathered from interviews from industry participants including Business Development Managers / Executives, CEO’s and Plant Managers. This information has been adhered to by the analysts while developing this insightful report on the aluminum trays market. Secondary research is leveraged for ascertaining the overall size of the aluminum trays market.
A short market viewpoint offered in the report explains the macro-economic aspects that influence the growth of the aluminum trays market, which includes worldwide demand for food & beverages and ready-to-eat consumption trends impacting the packaging sector.
Global pricing analysis, restraint analysis, and opportunity analysis on the aluminum trays market has also been incorporated in the report. This report serves as an authentic resource of intelligence on the aluminum trays market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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