Paper Trays Market Size, Share, Growth, and Industry Analysis, By Type (Corrugated Board, Boxboard/Carton, Molded Pulp), By Application (Food & Beverages, Healthcare, Consumer, Durable & Electronics, Personal Care & Cosmetics Products, Others), Regional Forecast To 2032

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Paper Trays Market Report Overview

  The Paper Trays Market size was valued at approximately USD 5.59 billion in 2023 and is expected to reach USD 8.9 billion by 2032, growing at a compound annual growth rate (CAGR) of about 5.4% during forecast period.

Paper trays are frequently utilized for food product packaging. There are various grades of paper trays, including virgin and recycled fibres. Material like corrugated boards, molded pulp, and boxboards are used to make these trays. These trays are used extensively in a variety of applications, including but not limited to retail, healthcare, personal care, and food products. These trays are also used to package mobile phones, laptops, earphones, printers, cosmetic and personal care products, medical tools and equipment, and consumer goods like jewellery and glassware.

The paper tray market in the food and beverage industry is anticipated to grow during the forecast period as a result of consumer demand for food packaging and expansion of the tourism industry. It is anticipated that demand for paper trays will rise as a result of the increased emphasis on sustainability and the reduction of plastic packaging waste.

COVID-19 Impact: Pandemic Reduced the Market Demand

When the Covid19 pandemic first began, nations all over the world were shaken. In addition, governments all over the world were compelled to take severe measures to avert the impending disaster as the number of cases increased, including the enactment of strict social distance restrictions, lockdowns, and border seals. These actions had a significant impact on the economy, disrupted supply chains, and affected a variety of industries because industrialists all over the world were forced to stop producing. As a result, global markets falling. However, it is anticipated that demand will continue to rise steadily in the years to come following the reopening of trade.

Latest Trends

"Zero Waste Edible Trays to Drive Market Forward"

Despite the numerous advantages of plastic trays, consumers are looking for environmentally friendly and sustainable packaging options. Zero-waste paper trays are generating buzz and driving sales. These trays are getting more and more popular lately because they don't waste any time and can be used right away. Demand for paper trays has increased as a result of the introduction of edible trays made of sugarcane, palm leaves, corn starch, bagasse, and other materials. Given that they meet all of the requirements that consumers have for packaging, it is anticipated that these trays will succeed as an alternative to traditional trays. Further, novel strategies of key players will drive market forward. In March 2021, Worldwide Paper purchased two cutting edge ridged enclose plants found in Spain. In order to provide high-quality packaging solutions for applications in the industrial and e-commerce sectors, it has expanded its production capabilities in Madrid and Catalonia.

Paper Trays Market Segmentation

• By Type Analysis

According to type, the market can be segmented into corrugated board, boxboard/carton, molded pulp.

• By Application Analysis

Based on service, the market can be divided into food & beverages, healthcare, consumer, durable & electronics, personal care & cosmetics products, others.

Driving Factors

"Eco-friendly Feature to Accelerate Market Demand "

Even though using plastic trays has a number of advantages, consumers are looking for alternatives that are better for the environment. Because they can be used immediately and eliminate waste, edible trays are becoming increasingly popular. Demand for compostable paper trays has increased due to edible tray options made from sugarcane, palm leaf, corn starch, bagasse, and other materials. Because they meet all of the requirements of the consumer for packaging, it is anticipated that these edible trays will prove to be an effective alternative to conventional trays. Manufacturers in the market have a lot of opportunities due to consumers' growing awareness of environmental pollution and the harmful effects of conventional plastic on the environment. Additionally, producing paper trays consumes less energy. They are also non-toxic because they are made organically without the use of chemicals. Compostable paper also breaks down more quickly and is absorbed by the soil or turned into compost depending on the materials used to make it. All these developments will boost paper trays market growth.

Restraining Factors

"Concerns Regarding the Use of Packaging Additives To Hinder Market Growth"

Solutions for packaging raise a number of environmental issues, such as the requirement for materials that can be composted or broken down by bacteria and the difficulty of recycling them. In 2017, the Organization of Scrap Reusing Businesses (ISRI) gave different remarks explaining and growing its situation on biodegradable added substances in bundling. According to the study, degradable chemicals have not been thoroughly tested, so it is unclear what kind of threat they pose to human health and the environment.

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Paper Trays Market Regional Insights

"Technological Developments in North America Anticipated to Boost Market Development"

During the forecast period, North America holds the leading position in paper trays market share. The vast majority of the market share for biodegradable paper trays is held by Tier 1 companies, which have a firm grip on the sector. They are likewise benefiting from the tremendous improvement expected in developing business sectors by expanding their creation limit, shaping key organizations, and sending off innovative new merchandise.

Key Industry Players

"Market Expansion Is Being Driven By Key Players' Adoption of Novel Strategies"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Mondi Group, International Paper, Huhtamaki, Pactiv, Brodrene Hartmann, UFP Technologies, BillerudKorsnas, Stora Enso, Henry Molded Products, Novolex. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

LIST OF TOP PAPER TRAYS COMPANIES

• Mondi Group (U.K.)
• International Paper (U.S.)
• Huhtamaki (Europe)
• Pactiv (U.S.)
• Brodrene Hartmann (Europe)
• UFP Technologies (U.S.)
• BillerudKorsnas (Europe)
• Stora Enso (Europe)
• Henry Molded Products (U.S.)
• Novolex (U.S.)

Report Coverage

This report examines an understanding of the paper trays market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.