Today increasing number of restraints, convenience stores, food suppliers, caterers and other food suppliers including online food delivery services find advantages when they switch from traditional paperboard, Styrofoam and aluminum material trays to plastic trays. Few major cities in USA has already banned the use of Styrofoam because of their disposable problem and it is very difficult to recycle them. Many food industry players are searching for alternative for Styrofoam packaging. Plastic meal trays are the solution for them. These kind of plastic meal tray also allows vacuum and gas packaging. It is now becoming a widely excepted product because of its benefits such as easy to seal and it allows vacuum and gas packaging.
Due to socio-economic advancement all over the world and changing lifestyle, ready and packed meals has become a widespread solution for modern people. This is acting as one the important driver for plastic meal tray market. Demand for readily available fresh food, frozen food, dry fruits etc. is also driving plastic meal tray market. Attractive visual appearance and convenience to use are additional aspects which are expected to drive the plastic meal tray market. Moreover because of its environmental benefits recyclable plastic meal trays it is being used in college, schools and office canteens extensively. The plastic meal tray market is driven by the trend of shifting interest of consumers towards processed and specialty food. High raw material cost in less developed countries can act as restraint for this plastic meal tray market.
Introduction of more eco-friendly tray material like sugar cane or bagasse trays may act a threat to this plastic meal tray market.
Based on the type of plastic used the plastic meal tray market is segmented into:
- Others (RePET, HIPS, HDPE and APET)
Based on the application the plastic meal tray market is segmented into:
- Cold and Frozen food
- Prepared foods (hot) and ready to eat meals
- Kosher meals
In terms of geography, the plastic meal tray market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The plastic meal tray market is expected to register healthy CAGR during the forecast period. North America is anticipated to be the dominant market for plastic meal tray market followed by Asia Pacific and Europe. The market in Asia-Pacific region is expected to grow at highest CAGR over the forecast period. Countries with more population like China, India, USA etc. are likely to provide abundant opportunities for the growth of the plastic meal tray market.
Some of the key players in the plastic meal tray market are Food Packaging (GREENDALE), Sonoco Products, Pactiv LLC, Cambro etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.