Punnet Trays Market: Overview
In today’s world, plastic material is gaining popularity and has emerged as a significant material for food packaging. With growing advancement in the packaging technology, different techniques are now readily developed, utilized and thus preferred to bring plastic based materials for packaging in different industries. One of such type of packaging is Punnet Trays which are manufactured from Polyethylene terephthalate (PET), Polypropylene (PP), etc. into different sizes and shapes. Growing awareness towards convenience packaging in retail marketing with increased shelf visibility has emerged as a key factor and has thus led to increase in demand for punnet trays. Punnet trays are flexible and durable in nature thus have variety of applications in the food & beverages packaging sector. Punnet trays allows food items to be packed at farm and shipped to the supermarkets, retail stores, etc. with minimized wastage while retaining the product freshness at the same time.
Punnet Trays Market: Drivers & Restraints
Punnet trays are readily used in packaging and storage of both fresh as well as processed foods. The robust growth of food and beverages industry especially in fast pacing emerging markets, punnet trays market is expected to witness an above average rate of growth during the forecast period. In electronic, punnet trays are used efficiently in packaging and shipping of computer & other hardware components. Thus, with the rising demand for consumer electronics, punnet trays market is likely to show a steady CAGR during the forecasted period. However, government authorities across various countries over the globe have imposed stringent regulations regarding the use of plastic material which can hinder the growth of punnet trays market.
Punnet Trays Market: Segmentation
The Punnet Trays market is segmented as follows
On the basis of material used, the Punnet Trays market is segmented into:
- Polyethylene terephthalate (PET)
- Polypropylene (PP)
- High-density polyethylene (HDPE)
- Low-density polyethylene (LDPE)
- High Impact Polystyrene (HIPS)
- Polyvinyl chloride (PVC)
On the basis of product type, the Punnet Trays market is segmented into:
- Insert trays
- Standard trays
- Shelf display trays
On the basis of end-use, the Punnet Trays market is segmented into:
- Poultry Products
- Meat & Sea food products
Punnet Trays Market: Segmentation Overview
In terms of applications, food packaging especially fruits & vegetables packaging are the highest revenue contributors in the global Punnet Trays market. Among the product type, insert trays are broadly used in the pharmaceutical industry for medicinal packaging. Glass vials and ampoules can be safely packaged and transported in insert trays with minimal damage. The towering growth in the global pharmaceutical industry will positively influence the thermoformed trays market through our forecast period of 2016 – 2026.
Punnet Trays Market: Regional Overview
Geographically, the Punnet Trays market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
Developing economies like India, China, ASEAN countries, etc. have a sizable population with increased disposable income. Asia-Pacific region is expected to be the largest market share in Punnet Trays market owing to its growing consumer base in this region. North America and Europe contributes a significant share in global Punnet Trays market due to rapid growth in demands from sectors such as food and beverages, electronics and healthcare. Middle-East and Africa region is currently at the nascent stage and is projected to show a reasonable rate of growth. Overall, the global Punnet Trays market is expected to register a healthy rate over the forecast period.
Punnet Trays Market: Key Players
Some prominent players that currently operate in the punnet trays market are Nirmala Pet A Pack Private Limited., Earthpac., RPPL Industries Ltd., Produce Packaging (UK), J-Tech Systems., AVI Global Plast., Starlight Packaging., Associated Packaging, Inc., YV Packaging and many others
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.