Global Display Trays Market: An Overview
Display trays are point-of-purchase (POP) solutions designed to showcase and securely hold consumer products at retail stores. Display trays are mostly used for promotional marketing and are aimed at engaging consumers at point-of-purchase. A significant fraction of the display trays used these days are thermoformed. One of the key benefits of using display trays is brand flexibility - display trays are available in a variety of colors, materials and thicknesses, enabling brands to customize the trays as per the requirement and product type to be displayed.
Other features which increase preference for display trays among brand owners is their durability and portability. To create a positive impact on the minds of consumers, display trays are placed aside to make new products stand apart from the rest. The transformation of the retail sector is expected to have a strong influence on the global display trays market. Prominence of market growth for display trays is however, expected to be more in the Asia Pacific and Latin America regions. Challenges posed by strong e-commerce growth across the globe could significantly hamper growth of the display trays market, during the forecast period.
Global Display Trays Market: Dynamics
The global display trays market growth is expected to be aided by strong growth in the retail sector, especially in the Asia Pacific region. Increased disposable income of people in the region has given them access to a wide range of products. Furthermore, many key countries in the Asia Pacific, including China and India, have witnessed rapid growth in the retail sector. As modern consumers actively screen-out products based on a number of parameters, there is an absolute need for retailers and brands to showcase their new products and variants at point-of-purchase. Apart from functioning as a marketing tool for retailers, display trays also provide ample protection from damage to the products on display. In today’s scenario, marketing and customer retention strategies of a brand go a long way in ensuring consumer loyalty.
Also, product presentation is critical for marketing. Display trays are ideal to achieve the same. Manufacturers of display trays offer customized solutions, wherein, the focus is on requirement-specific design. A number of display trays’ manufacturers also have an in-house team that creates the design concept, which is then produced on a large scale. Growing demand for personal care & cosmetic products, as well as growth in the number of food retail outlets, are other factors which are anticipated to boost demand for display trays across the globe. One of the key factors which are anticipated to become a hurdle to market growth for display trays is the increasing consumer acceptance for e-retail.
Global Display Trays Market: Segmentation
Globally, the display trays market has been segmented as –
On the basis of material, the global display trays market is segmented as –
- PETE (Polyethylene Terephthalate)
- HIPS (Polystyrene)
- PVC (Polyvinyl Chloride)
- PETG (Polyethylene Terephthalate Glycol)
On the basis of product type, the global display trays market is segmented as –
On the basis of end use, the global display trays market is segmented as –
- Food & Beverages
- Electrical & Electronics
- Personal Care & Cosmetics
- Medical & Pharmaceutical
Global Display Trays Market: Regional Outlook
The Asia Pacific display trays market is expected to register significant growth during the forecast period, coming out on top in terms of value and volume by the end of 2028. The North America and Western Europe regions might witness a decline in usage of display trays post-2020. This is due to the fast changing landscape of the retail sector in those regions. Rapid growth in market share of e-commerce poses the risk of an uncertain future for retail brick-and-mortar stores. The Latin America region is expected to represent growth opportunities for the display trays market. Growth in penetration of e-retail is ultimately expected to pose significant hurdles for market growth of display trays post-2028. The Japan display trays market is also anticipated to witness negative growth in the next ten years.
Global Display Trays Market: Key players
Some of the key players operating in the global display trays market are –
- Dordan Manufacturing Company
- Tray-Pak Corporation
- HL Display Ljubljana d.o.o.
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