Packaging is required to transfer the goods from one place to another and considered as a defining factor towards the sale of the product. The packaging industry has evolved itself by incorporating improved packaging solution, technological advancement and aesthetically pleasing packaging solution. These mentioned factors are important for the company to leave its footprint among its potential customer. Corrugated trays is such a type of packaging solution that keep the product safely on shelf. It not only protect the product but also create a positive effect in the mind of potential customer. The custom printing option along with different type of printing solution on corrugated tray is gaining traction among manufacturer to enhance their brand identity. Apart from regular size trays, customization is also an advantage for the consumer to meet their required needs.
Corrugated Trays Market- Market Segmentation:
The global corrugated trays market can be segmented on the basis of tray type, packaging type, material type, and end use. On the basis of tray type, the global corrugated trays market can be segmented into die cut folder, shelf ready trays and bakeable trays. On the basis of packaging type, the global corrugated trays market can be segmented into lidded style packaging and open top style packaging. On the basis of material type, the global corrugated trays market can be segmented into single wall corrugated paperboard, double wall corrugated paperboard and triple wall corrugated paperboard. On the basis of end use, the global corrugated trays market can be segmented into food & beverages, pharmaceuticals, cosmetics & personal care, logistics & transportation, retail stores and others.
Corrugated Trays Market - Market Dynamics:
One of the important factors contributing towards the growth of the global corrugated trays market is the rampant development of the retail sector in terms of supermarket/hypermarket and independent stores. The aforementioned corrugated trays are considered as a modern retail packaging solution which is capable of stacking the product effectively and is expected to grow along with the advancement of supermarket and hypermarket. Manufacturer and retailers are gaining huge traction towards corrugated trays due to its effectiveness related to product shelf life, it reduces the contamination from pathogens and spoilage microorganism. Moreover, another driving factor towards the growth of the global corrugated trays market is the multi-functionality of trays. Apart from displaying the product, these trays are also used for packaging the product and shipping. It reduces product handling while displaying both the product and company details from the packaging. However, the restraining factor towards the growth of the global corrugated trays market is the wide adoption of reusable plastic crates, which is considered as one time investment for stacking the product. Adding to this, the waste generated after the expiry of corrugated trays is expected to hinder the growth of the global corrugated trays market.
Corrugated Trays Market - Regional Outlook:
Geographically, the global corrugated trays market is segmented into North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA). The global corrugated trays market is expected to witness a healthy CAGR over the forecast period of 2016-2024. Moreover, North America is expected to contribute significant market value share in the global corrugated trays market due to the increasing consumption of fruit and vegetables due to rising health concern among individual. Apart from this, Asia Pacific is considered relatively high consuming region of fruit and vegetable which is expected to improve the sales of the global corrugated trays market. Moreover, the extensive evolution of the retail sector in the emerging economies such as India & China, in terms of supermarket/hypermarket is expected to further boost the sales of the global corrugated trays market.
Corrugated Trays Market - Major Players:
Some of the major players identified across the global corrugated trays market are Visy Board Pty Ltd, PIEDMONT CORRUGATED SPECIALTY COMPANY, ibox packaging ltd, New Method Packaging LLC, GOFRA ?anufactoring Group, Uline, Inc., Packaging Supplies, Inc., TOPPAN PRINTING CO., LTD, Smurfit Kappa Group and ABBE CORRUGATED PTY. LTD.
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