Paper and Paperboard Trays Market Size, Share, Growth, And Industry Analysis, By Type (Recycled Fiber and Virgin Fiber), By Application (Footwear and Apparel, Transportation, Industrial Manufacturing, Medical, and Other), Regional Insights, and Forecast To 2031

Updated On: 06 May 2024

Paper and Paperboard Trays Market Report Overview

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global paper and paperboard trays market size was USD 5946.3 million in 2022 and market is projected to touch 8541.95 Million By 2031, exhibiting a CAGR of 4.1% during the forecast period.

Paper and paperboard trays are common packaging materials for fresh fruits, eggs, vegetables, dried fruits, salads, and other food and beverage items. These trays also package consumer electronics such as mobile phones, laptop computers, headphones, printers, cosmetics and personal care products, healthcare supplies and equipment, and consumer goods such as glassware and jewelry. These trays are constructed from virgin or recycled fibers. They cushion the contents of the package to ensure their safety during transit.

COVID-19 Impact

"Imposed Lockdown Significantly Affected the Global Market "

The coronavirus pandemic caused considerable anxiety and economic hardship for businesses, consumers, and communities worldwide. Paper and packaging manufacturers, in general, faced several issues due to the crisis. Self-isolation has resulted in a scarcity of goods, and many manufacturing firms are diversifying their supply chains away from China. The effect of Covid-19 on the industry will be mixed, depending on their portfolios to various end-users. With the spread of COVID-19 worldwide, most countries declared a health emergency and halted unnecessary movements, significantly impacting the supply chain of goods. Supply chain disruptions caused slowdowns. Because of social alienation, manufacturing facilities rushed to adjust, generating greater disturbance and slowdowns. The paper and paperboard industries' supply networks may continue to have weak or broken linkages.

Latest Trends

"Innovative Technologies to Surge The Market Growth "

Consumers' increasing emphasis on sustainability drives investments in innovative technologies and materials, such as paperboard trays, especially ones with recycled content. Rising consumer preference for eco-friendly packaging alternatives is attracting significant investment in the market for paper and paperboard trays. During the forecast period, this is expected to boost the market. In addition, manufacturers are offering a wide selection of kraft paper tray designs in anticipation of the profit-generating capability of the paperboard trays market and future growth opportunities, proving to be a successful strategy for paper packaging enterprises and increasing product sales.

Paper and Paperboard Trays Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into recycled fiber and virgin fiber.

• By Application Analysis

Based on application, the market can be divided into footwear and apparel, transportation, industrial manufacturing, medical, and other.

Driving Factors

"Sustainability of the Product to Drive Paper and Paperboard Trays Market"

The growing global demand for environmentally friendly and flexible packaging applications in various industries, particularly food, and beverage, is driving the global paper and paperboard trays market. Another important element driving demand for paper and paperboard trays is the increased demand for low-cost paperboard packaging for food and beverages. Because of growing environmental concerns, governments and other regulatory agencies are pushing using recyclable materials. Furthermore, they have established severe rules governing the usage of sustainable products, which is one of the major factors driving the growth of the paper and paperboard trays market growth.

"Cardboard Trays to Amplify the Market Growth"

Cardboard trays are widely utilized in food and beverage, personal care and cosmetics, and product delivery. With the growing e-commerce of retail products and food and beverage deliveries, cardboard trays are becoming increasingly important for proper handling and shipping of goods. Cardboard trays assure product safety, a fundamental issue for an online store and the buyer. With the increased consumption of takeaway food and beverages, cardboard trays contribute significantly to product safety while preserving the food's freshness until it reaches the consumer. These factors are driving global demand for cardboard trays in various end-use sectors.

Restraining Factors

"Surging Demand for the Product to Limit Market Growth"

There are certain constraints to expanding the paper and paperboard tray's market share, such as the tray's material not being appropriate for excessive pressure and the trays losing their shape if subjected to some pressure, potentially injuring the goods contained. Furthermore, cardboard trays are not the greatest solution for weatherproofing because water or any other liquid form will seep into the tray and damage the items inside. To avoid this limitation, avoid handling any cold beverages, and double-check that the product to be carried is correctly closed.

Paper and Paperboard Trays Market Regional Insights

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"Asia Pacific to Lead the Market Owing to the Packaging Industry"

The Asia Pacific region accounted for the greatest paper and paperboard trays market share revenue. The Asia Pacific's paper and paperboard trays market has grown significantly due to the region's developing packaging industry, food retail and food service sector growth, and rising consumer awareness regarding sustainable packaging options. The food service business in Asia Pacific is developing due to tourism expansion, improved consumer lifestyles, and increased disposable income levels. Paper and paperboard tray manufacturers primarily focus on extending their operations across the Asia Pacific due to a prospective client base, cheap infrastructure and labor facilities, abundant resources, and free trade rules. This element would provide manufacturers with profitable prospects in the next years.

Key Industry Players

"Key Players Focus on Partnerships to Sustain in the Market"

Competitors in the paper and paperboard trays industry form alliances and collaborate to achieve a competitive advantage. They hope to exploit complementary strengths and expand their market reach by working with other companies. Companies also invest in research and development to bring new and innovative items to market. Furthermore, significant firms are pursuing mergers and acquisitions to expand their product ranges and cement their market position.

List of Market Players Profiled

• Mondi Group (U.K.)
• International Paper (U.S.)
• Huhtamaki (Finland)
• UFP Technologies (U.S.)
• OrCon Industries (U.S.)
• Henry Molded Products (U.S.)

Report Coverage

This research profiles a report with extensive studies describing the firms in the market affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.