Tier one companies in the paper trays market, namely, Mondi Group Plc, Huhtamaki Oyj and Billerud AB, are consolidating their positions in the developed countries. Collectively accounting for over 15 percent of the overall Paper Trays Market, these companies have their grounds set up in the North America region and Europe respectively. However, these companies have been focusing on emerging economies in the Asia Pacific, such as China and India, in a bid to expand their footprint at the international level. Moreover, tapping huge growth potential in Asia Pacific with respect to sales potential of paper trays has been the focal point of tier 1 companies.
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Tier 2 Players Account for Over 25% Market Share
Two main participants in the tier 2 category involved in the manufacturing of paper trays collectively account for a significant share of the overall paper trays market. Companies such as Stora Enso Oyj, and International Paper account for over 25 percent revenue share of the paper trays market with a significant revenue generation from European countries and North America region respectively.
Companies in the paper trays market are also initiating collaborations with local players to enhance their paper tray product penetration. For instance, Graphic Packaging combined with International Paper’s consumer packaging business in North America, with the latter owning 20.5% share and former owning 79.5% share of the combined company. This strategic amalgamation can serve as a huge platform for Graphic Packaging in the paper trays space, making it one of the leading companies in paper-based packaging sector.
Supermarkets to Prefer Paper Trays Over Plastic Counterparts
The paper trays market is largely influenced with growing demand from supermarkets worldwide. The ongoing plastic bans on account of environmental safety has transformed the FMCG packaging landscape as vendors of FMCG products and other consumer goods including food and beverages opt for paper trays and their variants such as fiber paper trays. Sustainability and fit for purpose paper trays are making a new entrance among food chains and supermarkets on the back of environment friendly production process of paper trays.
Companies in the paper trays market are leveraging this factor by linking with such supermarkets to promote their products. For instance, in 2018, Iceland Foods has linked with Stora Enso Oyj to replace plastic trays with paper trays. Iceland Foods would now be introducing its street food range in paper trays.
Likewise, tier 1 players have also started collaborations with local supermarkets for the same cause. For instance, in October 2018, Huhtamaki Oyj has collaborated with Waitrose & Partners, a UK based supermarket. The collaboration is to test the fiber-based recyclable tray by Huhtamaki for a period of two months.
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Molded-Fiber Paper Trays Gain Momentum
Molded fiber paper trays are gaining significant traction on the back of growing inclination toward sustainable packaging. Apart from being eco-friendly and biodegradable, paper trays from molded fibers feature relatively higher strength and high resistance against dampening. In addition, molded fiber paper trays are cost effective with minimum warehouse and inventory cost.
Plant-Based Plastic Trays Emerge as Effective Alternative to Paper Trays
Players involved in plastic packaging have been focused on solving plastic problem. A shift toward using plant-based plastics in the manufacturing of paper trays has been witnessed. Paper trays from plant-based plastics are environment friendly, feature high strength and are a sustainable business practice. Cornstarch is one of the widely used material in paper trays made from plant-based plastics and have limited negative impact on environment. This factor continues to challenge the adoption of paper trays, in turn restricting the growth of the paper trays market.
The report on paper trays market includes detailed assessment and business outlook of key companies involved in the manufacturing and distribution of paper trays. Key facets of the paper trays market competition landscape such as SWOT analysis, product portfolio, developments, acquisitions, strategies and key financials are covered. Key manufacturers of paper trays such as Colpac Ltd., Mondi Group Plc., Huhtamaki Oyj, and International Paper have been profiled in the report.
Companies in the paper trays market are focused on enhancing their paper trays portfolio by launching novel paper trays that can be used across a variety of applications. Colpac Ltd., has launched compostable ovenable tray, an extension to its paper food packaging portfolio. Likewise, in September 2018, Mondi Group Plc has launched patented barrier and paper solution for food packaging. The new offering will feature a paper construction with unique barrier protection, which is well-suited for the food industry.
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Global Paper Trays Market: Future Forecast Indicates Impressive Growth Rate Untill 2027
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