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.

What will the Foam Tray Market Size be During the Forecast Period?

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Foam Tray Market: Key Drivers, Trends, and Challenges

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.

Parent Market Analysis

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.

Who are the Major Foam Tray Market Vendors?

The report analyzes the market’s competitive landscape and 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.
• Tekni Plex Inc.

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.

Product Insights and News

• Anchor Packaging LLC - The company offers a wide range of foam trays such as Crisp Food Technologies CF6311C, Culinary Basics CB6611, Culinary Basics CB6611C, Culinary Lites CL6911, etc.

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.

Foam Tray Market Value Chain Analysis

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:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Foam Tray Market?

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50% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the foam tray market in APAC. Market growth in this region will be faster than the growth of the market in regions.

Increasing food safety issues will facilitate the foam tray market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The regional market witnessed certain challenges in 2020 due to the COVID-19 pandemic. India, China, Pakistan, and Bangladesh are some of the most affected countries in the region. Lockdown restrictions negatively affected the supply chain activities of vendors that offer foam trays. These restrictions also affected the operations of most end-users and caused supply chain disruptions. Additionally, in the first half of 2021, the region was negatively affected by the pandemic's second wave, which again hampered the regional market in focus. However, the launch of vaccines and the easing of lockdowns caused various industries such as construction to resume their operations. Also, there has been a growing investment in healthcare facilities in developing countries such as India and others to strengthen medical facilities in the nearby future. These factors will drive the adoption of foam trays in hospital equipment and others.

What are the Revenue-generating Application Segments in the Foam Tray Market?

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The foam tray market share growth in the Food packaging segment will be significant during the forecast period. The food packaging industry demands the use of foam trays as they are considered to be more hygienic than other forms of packaging, such as paper-pulp cartons, which were used earlier for the packaging of perishable goods, especially eggs. This is the major reason why foam trays are used in the packaging of perishable foods like meat, pork, and poultry which are food products easily susceptible to degradation

 This report provides an accurate prediction of the contribution of all the segments to the growth of the foam tray market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Foam Tray Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive foam tray market growth during the next five years
• Precise estimation of the foam tray market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the foam tray industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of foam tray market vendors

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