Enjoy complimentary customisation on priority with our Enterprise License!
The foam tray market share is expected to increase by USD 647.42 million from 2020 to 2025, and the market’s growth momentum will decelerate at a CAGR of 6.29%.
This foam tray market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers foam tray market segmentation by application (food packaging, Industrial packaging, and pharmaceutical packaging), material (polystyrene, polyethylene, polypropylene, and polyester), and geography (APAC, North America, Europe, South America, and MEA). The foam tray market report also offers information on several market vendors, including Anchor Packaging LLC, Cascades Inc., CKF Inc., Dart Container Corp., DuPont de Nemours Inc., Novipax LLC, Reynolds Group Holdings Ltd., Sealed Air Corp., and Tekni Plex Inc. among others.
Download Report Sample to Unlock the Foam Tray Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a positive impact on the market growth during and after post COVID-19 era. The increasing food safety issues is notably driving the foam tray market growth, although factors such as environmental effects of plastic may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the foam tray industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Foam Tray Market Driver
Increasing food safety issues is one of the key factors driving the growth of the global foam tray market. Food safety issues have been on the rise, turning out to be a growing concern. With the increasing globalization of food supply, the chances of food contamination are high, demanding enhanced food safety systems. These food safety issues arise due to food contamination and deterioration occurring at some point in the supply chain. Contamination can occur due to microbial growth, toxic chemicals, or radioactive substances. This has affected the health of end-users consuming the food due to the presence of potentially harmful bacteria and viruses. One of the reasons for these issues is improper packaging of food items or inappropriate handling during transportation and storage. Proper packaging serves as a defense against external hazards. Hygiene is a major factor to be considered when dealing with food. Food products must be packaged with due consideration to hygiene and sanitation to avoid microbial growth, which when unchecked, limits the shelf-life. Many cases of food poisoning due to food contamination have been reported from different parts of the world.
Key Foam Tray Market Trend
Demand for small-sized or single-serving packs will fuel the global foam tray market growth. The demand for single-serving packaged food has been increasing due to various reasons. The hectic schedules of the working population and the need for adequate quantities of food suiting individual needs are the major factors contributing to the demand for individual packaging. The growing number of single-person households is also affecting the demand for small-sized or single-serving packaging. In addition, there is a significant growth in the demand for convenient food packages in the market. This kind of packaging enables users to store food products for a longer time due to improved shelf life. In addition, small-sized packs require less shelf space when compared with large packs. These benefits enable end-users like merchants to stock more products due to the added feature of less space requirement. These trends are expected to affect the foam tray market positively through customized and single-serving packs catering to customer requirements. Single serving packs are the growing trend in the packaging market as not only do they prevent food wastage but also meet individual needs.
Key Foam Tray Market Challenge
The environmental effects of plastic are the major challenge for the global foam tray market growth. Plastics are produced from petroleum and natural gases, which are non-renewable resources extracted using energy-intensive processes that harm the ecosystem. The process of manufacturing plastics pollutes the environment and affects the health of the workers exposed to chemicals like carcinogens. In addition, the production of plastics results in the emission of harmful gases like sulfur oxides, nitrous oxides, methanol, and ethylene oxide, among others. Moreover, foam trays made out of plastic are easily disposable. This is an advantage because of its ease and convenience. However, it has a major drawback of being a major source of landfills. Since the foam trays are non-biodegradable, they remain in the environment for a long span of time. Another disadvantage of plastics is the addition of chemical additives for color, anti-oxidant features, and heat stabilization. The anti-oxidants added to the plastic for resistance against acid contents slow down the degradation process in plastics.
This foam tray market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The global foam tray market is a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the foam tray market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the foam tray market encompasses successful business strategies deployed by the key vendors. The foam tray market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The foam tray market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the foam tray market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global metal and glass containers market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Material
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.