North America Tops the Global Paper Trays Market Accounting For 23.1% of Global Market Share In 2022
The market
for paper trays is expected to reach USD 8,900 Million by 2032, growing at a
CAGR of 5.4% from 2022 to 2032. The market is expected to reach USD 5,300
Million in 2022.
In 2022, the
market for paper trays will represent 2% of the overall market for paper goods.
During the assessment period of 2022 2032, the global paper trays market is
anticipated to have an absolute $ opportunity of USD 3,600 Million.
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The According
to Fact.MR study, the market for paper trays generates more than 40% of its
revenue from industrial uses of paper trays in food and beverage products. The
Reality Leading retail chains and foodservice brands' resolve to phase out
plastic in food packaging, as well as the industry's growing demand for
environmentally friendly paper trays, are all factors that the MR study
continues to be bullish on. The report also discusses the growing demand for paper
trays in the consumer electronics industry, which is probably
going to remain an understudied end-user industrial segment in the paper trays
market.
Increased Demand for Frozen Food Products
Driving Market Innovation for Paper Trays
To combat
the rising popularity of frozen food products among younger consumers, the
majority of paper tray manufacturers have started to produce paper trays that
are both freezer- and microwave-safe. To introduce distinctive features of
paper trays suitable for food and beverage products, market players are
integrating cutting-edge technologies, such as modified atmosphere packaging
technology, and manufacturing processes, such as thermoforming.
Although the
food and beverage sector dominates the market for paper trays, there are other
industrial uses for paper trays. The market for paper trays is expanding
significantly thanks to a number of end-user industries, including healthcare,
personal care & cosmetics, and consumer electronics & durables. Leading
paper tray producers are focusing on enhancing their product portfolio for this
market because they are aware of the growing demand for paper trays in the
consumer durables and electronics sector, according to a lead analyst at
Fact.MR.
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Report Attributes
Details
Base Year
Value (2021A)
USD 5,100
Million
Estimated
Year Value (2022E)
USD 5,300
Million
Projected
Year Value (2032F)
USD 8,900
Million
CAGR Value
(2022-2032)
5.4%
North
America Market Share in 2021
~23%
Collective
Value Share (US, UK, Germany) 2022: Top 3 Countries
~30%
Top 5
Companies Market Share
~15%
Competitive Landscape: Leading Paper Tray
Companies
Due to the
presence of numerous domestic and regional competitors, the global paper tray
market is highly fragmented and competitive. Key players use a variety of
marketing tactics, including mergers and acquisitions, expansions,
collaborations, and partnerships.
Additionally,
the top businesses use new product development as a strategic approach to
enhance their market presence among consumers. Modern paper trays products have
been incorporated as a result of these strategies.
Key Companies Profiled
Mondi Group plc
Huhtamaki Oyj
International Paper
BillerudKorsnas
UFP Technologies, Inc.
CS Packaging, Inc.
Stora Enso
Novolex
Orcon Industries
Athena Superpack Private Limited
Henry Molded Products, Inc.
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Global Paper Trays Market by Category
By
Source :
Virgin Fiber Paper Trays
Recycled Fiber Paper Trays
By
Material Type :
Corrugated Boards
Boxboards/Cartons
Molded Pulp
By
End-Use :
Retail Industry
Food & Beverage
Industry
Personal Care &
Cosmetics Industry
Healthcare Industry
Consumer Durables and
Electronics Industry
By
Region :
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA
* This article was originally published here
* This article was originally published here
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