Tire 3 players are witnessing significant growth accounting 40-50% revenue share in the plastic tray market. Innovative and new product launches, developing cost-effective products, are the major focus areas of tire 3 companies. Meanwhile, tire 1 companies in the plastic tray market are engaged in expanding their manufacturing facilities, and emphasis on establishing a strategic alliance with the leading players and distributors across various regions.
Limited geographical presence of the emerging players is likely to restrict their growth. However, new product launches with unique features in the plastic tray market are boosting the growth of emerging companies in the plastic tray market.
Resource-efficient and responsible approach to plastics in packaging by all the sectors and governing bodies in Europe is attracting more companies operating in the plastic tray market in the region. Proposed guidelines aimed at boosting recycling of PET plastic trays by Plastic Recyclers Europe (EuPR) is supporting the plastic tray market growth.
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There has also been a significant growth in the use of PET plastic trays by the packaging industry in the region, thereby, presenting growth opportunities for plastic tray manufacturers in Europe.
Moreover, the European Commission has also established the Enterprise Europe Network to provide support to the companies planning to tap new growth opportunities in Europe.
Reusable plastic packaging is witnessing growing popularity across various industries. Improving supply chain performance, reducing the risk of damage and enhancing safety are some of the factors driving demand for reusable plastic packaging. The food industry is moving fast towards adopting reusable plastic trays.
Reusable plastic trays are being designed with a better locking system and produced from high-density polyethylene to ensure food safety for a long time. Leading producers of dairy, red meat, baked, and poultry products are focusing on providing reusable plastic trays as it reduces expenses, optimizes supply chain, and offer sustainability.
European Union also recently declared its new policy agenda with the goal to make all the plastic packaging in the EU market to be reusable and recyclable by 2030. Manufacturers in the plastic tray market are producing reusable plastic trays instead of single-use plastic trays.
A study by the Journal of Cleaner Production found that the entire lifecycle of 1Kg plastic tray leads to around 1.538 Kg of CO2. Hence, to limit the amount of CO2 generated, companies are focusing on producing reusable plastic trays.
The black plastic trays found large application in the food industry, especially for packaging ready meals. However, with rising focus on the recyclability of plastic trays, the majority of the companies have stopped using black plastic trays as these trays cannot be recycled due to the presence of carbon black pigment.
However, some companies in the plastic tray market along with government organizations, and other groups are trying to find a new solution and technology to provide black plastic packaging for various food items and other products.
The Waste and Resources Action Programme (WRAP) in the UK worked with key players in the retail supply chain to improve recyclability of black plastics. WRAP is encouraging plastic tray manufacturers to use detectable black colorants that enable black plastic packaging to be recycled.
Meanwhile, RECOUP in the UK has developed black plastic packaging recycling roadmap with an aim to introduce new detectable pigment, and develop a new technology solution to sort existing material for black plastic packaging. RECOUP is also leading a group including packaging manufacturers, retailers, packers, and trade associations.
Major retailers including Tesco, Marks and Spencer, and Sainsbury’s are working with Viridor, a waste management company to come up with a new solution on black plastic recycling.
Consumers across the world are becoming increasingly involved in sustainability, thus demanding green products. Hence, manufacturers in the plastic tray market are focusing on providing alternatives such as plant-based plastics, palm leaves, cornstarch, paper trays, etc. According to UN Environmental Programme (UNEP), more than 8 million tons of plastic is being dumped in the ocean every year.
Manufacturers in the plastic tray market are moving towards adopting the eco-friendly alternative to plastic trays. Manufacturers are investing heavily in developing paper trays. Various industries including food, healthcare, cosmetics, and consumer electronics are using paper trays for packaging.
Paper tray manufacturers are also developing freezer-safe and microwave-safe paper trays. Advanced technologies such as modified atmosphere packaging, and thermoforming are used to include unique features to paper trays.
Bioplastics are also gaining popularity among end-use industries and consumers. Sources such as potato starch, sugar cane, the cellulose from trees are used to make bioplastics. Manufacturers in the plastic tray market are focusing on developing bioplastics that are energy-efficient to produce and biodegradable.
Research is also underway to develop fiber-based food trays as an alternative to plastic trays. For instance, Huhtamaki in partnership with Sodra and Saladworks is working on the EU funded project called as FRESH. The project is expected to continue till 2020 with an aim to provide a bio-based alternative to black plastic trays.
Polyethylene Terephthalate (PET) is the most widely used plastic in developing plastic bottles and plastic trays. Owing to the various benefits such as a high-strength barrier to resist outside tampering, lightweight, and shatterproof makes it highly suitable for packaging food, pharmaceutical, and personal care products.
PET is highly recyclable, hence, it is finding large application in the plastic tray market. According to the group known as Plastic Recyclers Europe, nearly 700,000 tons of plastic trays are consumed in Europe yearly can be recycled as a valuable material. Increasing investment and new developments are leading to the growth in PET tray recycling capacities in Europe.
Companies facilitating recycling are introducing new technologies and machines to separate PET plastic trays from PET bottles. Owing to the different chemical composition of PET bottles and trays. Moreover, mixing them together can lead to contamination making them unusable in the market.
The report offers a detailed profile of all the leading market players in the plastic tray market. Dashboard view on the key players is provided along with the SWOT analysis. Information on new developments, key strategies, market share and product portfolio of each of the key player is offered in the plastic tray market report.
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Plastic Tray Market Analysis, Size, Share, Growth and Opportunity Assessment till 2027
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