The plastic tray market is projected to expand at a very slow phase with the global sales of plastic tray surpassing US$ 7,000 million by the end of 2018, according to the latest report by Fact.MR. Introduction of eco-friendly alternatives to the plastic trays such as fiber-based trays, bagasse or sugarcane trays, paper trays, and plant-based plastics are emerging as a threat in the growth of the plastic tray market. However, manufacturers in the plastic tray market are focusing on developing reusable and recyclable plastic trays.
Moreover, the rise in human health concerns due to use of plastic is also leading to the development of new products, for instance, companies have started offering BPA-free plastic products, including plastic trays, bottles, containers, and other products. Companies are also investing in the research and development of plastic trays that are safe to use across industries including food and beverages, personal care, pharmaceuticals, and consumer electronics.
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Plastic trays are largely used across the food and beverages industry. The demand for plastic tray in the food and beverages industry is expected to grow significantly throughout the forecast period 2018-2027. Rising demand for ready-to-eat and the ready-to-cook food is driving the use of plastic trays.
However, health concerns regarding the consumption of food in plastic are also rising. Hence, the Food and Drug Association (FDA) has introduced regulations regarding the materials used to make plastic trays and other packaging used in the food and beverages industry.
Manufacturers in the plastic tray market are developing thermoformed plastic trays for food packaging. These plastic trays are being designed with easy to open and close lids, especially for packaging foods such as baked goods, salads, wraps, and sandwiches.
Europe is likely to emerge as one of the most dominating regions in the plastic tray market, as per the report by Fact.MR. Europe has already introduced regulations and guidelines with the aim to boost the recycling of PET plastic trays.
Meanwhile, the European Commission has also introduced new rules to ban single-use plastic products from the market. This is likely to hamper the plastic tray market growth in the region. However, manufacturers in the plastic tray market in Europe are focusing on developing reusable and recyclable plastic tray products.
Flexible plastic trays in the plastic tray market are expected to witness the highest sales during the forecast period. Reusability, lightweight, enhanced protection, shipping friendly, longer shelf life, are some of the benefits offered by flexible plastic trays. Hence, the adoption of flexible plastic trays is increasing across various industries.
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Plastic Tray Market Classification, Opportunities, Types and Applications, Status and Forecast to 20
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