Global Rigid Trays packaging market: Introduction
Rigid packaging market plays an important role in the overall packaging market, it accounts for over 2/3rd of the world packaging market and to tap the potential of this market, packaging manufacturers are providing innovative packaging solutions. Rigid trays are used in packaging for fresh food as well as processed food. Manufacturers are focusing on increasing shelf life of the product and rigid trays are extensively used in such packaging solutions for example MAP and vacuum skin packaging. The commonly used raw material for manufacturing rigid tray are PP and PET. Due to the properties like durability and moisture resistance manufacturers are preferring rigid trays to provide packaging. Rigid trays are being used in various end-use industry like Food, pharmaceutical industry and electrical & electronics.
Global Rigid Trays packaging market: Dynamics
Use of rigid trays for packaging of food products is the key factor driving the demand in rigid trays market. Other important factor fueling the growth of rigid tray packaging market is the increasing penetration of modern retail outlets, especially in APEJ region. In addition, fast changing lifestyles in developing economies translates to increase in the number of people adopting on-the-go food consumption habits, which is increasing demand for ready-to-eat meals, thereby reinforcing the global rigid trays market. Also, there has been an increase in the number of online food delivery services in emerging economies has which has led to growing demand for rigid trays. With the increase in trend of ready to eat meals the demand of rigid trays is boosting in Western Europe region.
The added advantage like reusability of rigid trays is driving the rigid trays market. Another important property shown by rigid trays is ease in product handling thus enabling consumers to carry the product from one place to another. Rigid trays are commonly manufactured from plastics which is a major cause of environmental pollution. Strict government regulations regarding the usage of plastic for food packaging may hinder the growth of rigid tray market in Asia Pacific region. However, on the backdrop of increasing use of rigid tray in the pharmaceutical industry can provide new growth opportunities for rigid trays market.
Global Rigid Trays packaging market: Segmentation
The global rigid trays packaging market has been segmented as follows –
On the basis of material type, the global rigid tray packaging market has been segmented as:
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- High-density polyethylene (HDPE)
- High Impact Polystyrene (HIPS)
- Polyvinyl chloride (PVC)
- Low-density polyethylene (LDPE)
- Others (ABS)
- Paper & paperboard
On the basis of product type, the global rigid tray packaging market has been segmented as:
- Insert rigid trays
- Dunnage rigid tray
On the basis of end-user industry, the global rigid tray packaging market has been segmented as:
- Pharmaceutical Industry
- Food Industry
- Electrical and Electronics Industry
- Consumer Goods Industry
- Health Care Industry
- Others ( Cosmetics, Horticulture)
Global Rigid Trays packaging market: Geographical Outlook
The global rigid trays packaging market has been divided into seven regions as follows –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)
The global rigid tray packaging market is classified into seven regions globally such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa (MEA). Among these regions, North America accounts for highest market share followed by Western Europe in rigid tray packaging attributed to the rapid growth of food industries along with the growing population. The market in Asia Pacific region is expected to grow at highest CAGR over the forecast period. Countries with rising population like India, China etc. are likely to expect to create significant opportunities in rigid tray packaging market.
Global Rigid Trays packaging market: Key Players
Some of the players operating in the global rigid packaging market are – Pactiv LLC, Winpak Ltd., GY Packaging, EastCoast Packaging Corp, Linpac Packaging Ltd, DKC, Coveris, TEMMA SHIKI, Barger, Quinn Packaging, Hangzhou Xunda Packaging Co., Ltd., Jinwen Xie GZ Yulong Packaging Product Co., Ltd
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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:
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- Latin America
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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?
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