Global Foam Trays Market to Grow at a Steady Rate During Forecast Period

Increasing concerns related to food safety is expected to drive the growth of global foam trays market during the forecast period

According to TechSci Research report, “Global Foam Trays Market By Material Type, By Application, By Region, Competition, Forecast & Opportunities, 2024”, the global foam trays market is expected to grow at a steady CAGR during the forecast period on account of increasing demand for foam trays in food packaging industry. Foam trays are witnessing adoption in the food packaging on account of their lightweight, good shock resistance, durability, stability at high temperature and cost effectiveness. However, non-biodegradable nature of foam is restraining the growth of the market. Foam breaks down slowly and may sit at the landfills for more than 100 years. Furthermore, availability of bio-based products can hamper the foam trays market during forecast period.

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The global foam trays market is segmented based on material type, application, company and region. Based on material type, the market can be fragmented into Polyethylene, Polypropylene, Polyester, Polystyrene and Others, which include antistatic polyethylene, polyurethane, and fluoride. Of all, the Polystyrene segment is expected to register the highest CAGR during forecast period. The growth of this segment can be accredited to their cost effectiveness, recyclability, shatter & moisture resistance, light weight, among others. Based on application, the market can be fragmented into Pharmaceuticals, Food Packaging, Industrial Packaging and Others. The food packaging segment dominates the market owing to the rising concerns related to food safety, cost effectiveness and customization feature of foam trays.  

Tekni-Plex Inc., Sirap Gema SpA, Anchor Packaging Inc., Berry Global Inc., Reynolds Group Holdings Limited, Sealed Air Corporation, D & W Fine Pack LLC, Coveris Inc., Genpak, LLC, Dart Container Corporation and others are some of the leading players operating in global foam trays market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“North America is expected to be the largest market for foam trays during the forecast period followed by Europe. The growth of North America foam trays market is led by the high demand for packaged food and home delivered food in the region. Europe is also anticipated to witness growth during forecast period as foam trays market in countries like Italy and France is anticipated to expand at a rapid pace during the forecast period, owing to the rising demand for packaged food in these countries.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Foam Trays Market By Material Type, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global foam trays market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in foam trays market.

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