Foam Trays Market - Snapshot

Foam trays are primarily used in food packaging applications. They help prevent liquids from leaking in packaged food and beverages. Foam trays are ideal for usage for fruits, vegetables, meat, and poultry. These trays are usually made from polystyrene, which is a highly compact foam. Foam trays are available in various shape and sizes. These trays are also employed in various other applications such as food service, meat packaging, test tube holders, and small tools packaging. Low cost and convenient usage of foam trays are driving the demand for these trays in various applications in food packaging industry verticals. Foam trays protect the food from chemical, biological, and physical hazards. 

foam tray market

The global foam trays market is anticipated to expand at a significant pace during the forecast period, primarily due to the rise in demand for cost effective foam trays and rise in concerns regarding food safety. The process involved in the production of foam trays is not complex. It consists of fewer number of phases vis-à-vis production of plastics through the polymerization process. The labor cost involved in the production of foam is also low. This ultimately lowers the overall cost of foam trays. Concerns regarding the safety of food are increasing day-by-day. Foam trays protect food from environmental effects. The foam trays market was valued at around US$ 2.5 Bn in 2018 and is expected to expand at a CAGR of more than 3.8% during the forecast period. However, non-biodegradable nature of foam is restraining the foam trays market. Foam breaks down slowly and may sit at the landfills for more than 500 years. Furthermore, availability of bio-based products can hamper the foam trays market.

Key players operating in the foam trays market need to focus on manufacturing bio-based products and promoting these accordingly. Major players are engaged in establishing new facilities and entering into acquisitions and mergers to develop and launch new products. On January 17, 2019, Tekni-Plex’s subsidiary Tri-seal expanded its closure liner offerings with the addition of three cost effective, co-extruded foam products. Tri-seal is known for closure liners and seal products manufactured from polyethylene foam, which is used to package food, cosmetics, pharmaceuticals, health care, agriculture, and chemical products. On May 1, 2018, Tekni-Plex acquired Commodore Plastics and Commodore Technology under a newly-formed subsidiary: Dolco LLC. Commodore Plastics offers a wide range of traditional and custom polystyrene (PS) foam trays, which include padded food processors, industrial trays, and supermarket display trays. Commodore Plastics is expected to become a part of Delco Packaging, which is the largest producer of foam egg carton trays. It comprises innovative technologies of additive manufacturing of sustainable decoration solutions as well as novel technology for resalable packaging.

Based on material, the global foam trays market has been divided into polyethylene, polypropylene, polyester, polystyrene, and others (including antistatic polyethylene, polyurethane, and fluoride). Polystyrene is the commonly used material in the manufacture of foam trays as it is lightweight and less expensive. Polyethylene foam trays are tougher than polystyrene foam trays. They are also lightweight and moisture resistant.

Based on application, the global foam trays market has been classified into pharmaceuticals, food packaging [meat & poultry, dairy products, food service {clamshells}, fruits & vegetables, bakeries, food chains {organized}], industrial packaging, and others (including electrical & electronics and cosmetics). Foam trays are primarily used for food packaging. The low cost and requirement-based customization of foam trays have increased their application in the food packaging sector. Increase in demand for disposable trays in food services and take-away restaurants is also driving the global foam trays market. Foam trays are also used in test tube holders and small tools packaging.

Based on region, the global foam trays market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe are key consumers of the global foam trays market. The U.S. is the largest consumer of foam trays in North America, led by the high demand for packaged food and home delivered food in the country. The foam trays market in Italy and France in Europe is anticipated to expand at a rapid pace during the forecast period, owing to the rise in demand for packaged food in these countries. China is a prominent consumer of foam trays in Asia Pacific. China is also a major producer of foam trays, due to the low cost of production in the country. Middle East & Africa and Latin America are emerging regions of the global foam trays market.

Key players operating in the global foam trays market include Tekni-Plex, Sirap Gema S.p.a., Placon, NOVIPAX, Cascades Inc., Dart Container Corporation, Ecopax LLC, Genpak, LLC, D&W Fine Pack LLC, COVERIS, PROTECH, Anchor Packaging Inc., Berry Global Inc., Reynolds Group Holdings Limited, Groupe Guillin SA, and Sealed Air Corporation.

Foam Trays Market- Overview

This report analyzes and forecasts the foam trays market at the global and regional levels. The market has been forecast based on volume (million units) and value (US$ Mn) from 2019 to 2027. The study includes drivers and restraints of the global foam trays market. It also covers the anticipated impact of these drivers and restraints on the demand for foam trays during the forecast period. The report also highlights opportunities in the foam trays market at the global level.

The report comprises detailed value chain analysis, which provides a comprehensive view of the global foam trays market. The Porter’s Five Forces Analysis model for the foam trays market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein material and application segments have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global foam trays market by segmenting it in terms of material and application. Segments have been analyzed based on present and future trends. Regional segmentation includes the current and projected demand for foam trays in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for foam trays in individual material and application segments across all regions. Key players operating in the global foam trays market are Tekni-Plex, Sirap Gema S.p.a., Placon, NOVIPAX, Cascades Inc., Dart Container Corporation, Ecopax LLC, Genpak, LLC, D&W Fine Pack LLC, COVERIS, PROTECH, Anchor Packaging Inc., Berry Global Inc., Reynolds Group Holdings Limited, Groupe Guillin SA, and Sealed Air Corporation. Market players have been profiled in terms of company overview, financial overview, business strategies, and recent developments.

The report provides size (in terms of volume and value) of the foam trays market for the base year 2018 and the forecast for the period between 2019 and 2027. In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile this research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key market players were reviewed for competition analysis and market understanding. Secondary research also includes search of recent growth trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.

Key Takeaways

  • Extensive analysis of the foam trays market trends and shares from 2018 to 2027 to identify growth opportunities and analyze market developments
  • List of key developments made by major players operating in the global foam trays market
  • List of prominent factors useful for building a roadmap of upcoming opportunities in the foam trays market at the global, regional, and country levels
  • Comprehensive analysis with respect to investments and price trends that impact the outlook for the global foam trays market between 2019 and 2027
  • Insights into growth opportunities for various stakeholders in the market value chain and a detailed competition landscape of key players operating in the market to help understand the competition level
  • Porters’ Five Forces Analysis that highlights the potency of buyers and suppliers, and enables stakeholders to make profit-oriented business decisions

The Foam Trays Market has been segmented as follows:

Material

  • Polyethylene
  • Polypropylene
  • Polyester
  • Polystyrene
  • Others (including Antistatic Polyethylene, Polyurethane, and Fluoride)

Application

  • Pharmaceuticals
  • Food Packaging
    • Meat & Poultry
    • Dairy Products
    • Food Service (Clamshells)
    • Fruits & Vegetables
    • Bakeries
    • Food Chains (Organized)
  • Industrial Packaging
  • Others (including Electrical & Electronics and Cosmetics)

Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Colombia
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa