Global Valuation in Plastic Ready Meal Trays Market to Climb by 1.4x during 2020 - 2028, Multi-colored Trays Made From Recyclable Materials Gather Steam, Finds TMR
- Worldwide Demand for Ready Meal through Online Platforms Grow Substantially Year on Year; Plastic Ready Meal Trays Market to Reach ~US$ 700 Mn by 2028-end
- Black CPET Plastic Trays Attract Criticism Due to Sorting Challenge leading to Low Recycling Rate; Regulatory Push for Environmentally Friendly Packaging will Ensure that Manufacturers Adopt Better Raw Materials
21 Jul, 2020, 15:30 ET
ALBANY, N.Y., July 21, 2020 /PRNewswire/ -- The growth of plastic ready meal trays market precedes the rise in demand for ready-to-eat meals year on year. Online food delivery businesses adopt convenient to-carry packaging solutions. Both consumer awareness and regulatory push are driving the demand for environmentally friendly and recyclable materials for making plastic trays for ready meal.
The global plastic ready meal trays market is expected to clock a moderate CAGR of 4.6% from 2020 to 2028 and reach worth of ~US$ 700 Mn by this period-end.
Analysts at TMR affirm that the evolving consumer preferences will pave way to uptake of transparent and multi-colored plastic ready meal trays. They further opine that sustainable packaging solutions using fiber or plant-based materials will gain popularity in the plastic ready meal trays market. Several companies will replace black plastic trays in their ready-meals packaging with recycled alternatives largely due to lack of adequate infrastructure, since the laser sorting systems used are inefficient.
Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=77735
Key Findings of Plastic Ready Meal Trays Market Report
- Among the various key materials, polyethylene terephthalate (PET) led the plastic ready meal trays market with more than 60% in 2020
- Of the various molding technology analyzed in the study, thermoformed molding witness widespread preference over all others; lower tooling cost and the design freedom key to popularity
- Of the two major types, multi cavity plastic ready meal trays high on consumer preference; the segment to account for more than 70% share in plastic ready meal trays market by 2028
- Regionally, Europe projected to be a mature market
- Asia Pacific and the MEA markets have high revenue potential
- Online food delivery platforms to impart a large growth momentum to plastic ready meal trays market
Explore 137 pages of top-notch research, incisive insights, and detailed country-level projections on Plastic Ready Meal Trays Market (Material: Polypropylene [PP], Polyethylene Terephthalate [PET], and Others; Molding Technology: Injection Molding and Thermoformed Molding; Tray Type: Single Cavity and Multi Cavity; End Use: Food Producers & Processors, Restaurants, Catering Services, Food Courts, and Online Food Delivery) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2028 at https://www.transparencymarketresearch.com/plastic-ready-meal-trays-market.html
Plastic Ready Meal Trays Market: Key Driving Factors and Promising Avenues
- Urban populations in various regions world over are increasingly demanding ready-to-eat meals and on-the-go food products, spurring the use of growth of plastic ready meal trays market. Rapid pace of urbanization in developing world has accelerated this trend.
- Of note, developed nations have seen rapid rise in consumption of convenience food year on year, fueling demand for plastic ready meal trays of different colors.
- A big stride in the plastic ready meal trays market over the past few years has stemmed from the advances in restaurants sector around the world.
- Manufacturers in plastic ready meal trays market are resorting to product diversification to gain competitive edge, boosting the revenue prospects.
- Consumers want plastic ready meal trays that preserve the freshness of food for a long time. Thus, remarkable shelf life and barrier properties are on the top of mind for manufacturers.
Purchase Premium Research Report on Plastic Ready Meal Trays Market @ https://www.transparencymarketresearch.com/checkout.php?rep_id=77735<ype=S
Plastic Ready Meal Trays Market: Notable Impediments and Strategies to Overcome Them
A glaring constraining factor for the plastic ready meal trays market has come from the fact that plastics packaging itself is under intense scanner for its sustainability quotient. This extends to food packaging as well. In particular, crystalline polyethylene terephthalate (CPET) black plastic trays have very low recycling rate, reason having to do with the presence of inadequate waste sorting infrastructure across the world. Additionally, ready meal trays made from plants and fiber has offering stiff competition to manufacturers of plastic trays. Further, due to the emerging COVID-19 pandemic restrictions on supply chains, ordering food from restaurants has been hit hard.
Nevertheless, players in the market are reinvigorating growth by offering clear and multi-colored plastic ready meal trays.
Analyze Global Plastic Ready Meal Trays Market Growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Plastic Ready Meal Trays Market: Competitive Dynamics
Stakeholders in the plastic ready meal trays market are also eyeing new revenue stream by adopting better-performing polymers as well as environmentally friendly packaging materials. The plastic ready meal trays market is witnessing the constant flux of local players and start-ups expanding their footprints. Eco-friendly plastic trays are one of the best bets to consolidate their positions.
Some of the well-entrenched packaging and labelling companies eyeing new stakes in the plastic ready meal trays are Silver plastics GmbH & Co. KG, Huhtamäki Oyj, Quinn Packaging, DS Smith Plc., and Sonoco.
Request the Coronavirus Impact Analysis across Plastic Ready Meal Trays Industries and Markets
The plastic ready meal trays market can be segmented as follows:
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Crystallized PET
- Amorphous PET
- Others (HIPS, HDPE, etc.)
- Injection Molding
- Thermoformed Molding
- Single Cavity
- Multi Cavity
- Food Producers & Processors
- Full Service Restaurants
- Quick Service Restaurants
- Catering Services
- Food Courts (In malls, Airports, Multiplexes, Railways, etc.)
- Online Food Delivery
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the Global Packaging Industry:
Baby Care Packaging Market– The baby care packaging market is observing an upward trend over the years and is expected to observe the same during the forecast period 2019-2027. Baby care packaging is mostly used for baby products. Plastic is the most common material used for baby packaging. The packaging greatly enhances the products and makes it more appealing to an individual. Innovative packaging designs, as well as growing awareness about baby care product benefits, are leading to an increase in the growth graph of the baby care packaging market.
Moisture Barrier Bags Market – Flexible packaging is one of the fastest-growing sectors in the FMCG manufacturing industry. Hence, companies in the moisture barrier bags market are innovating in flexible packaging solutions for the food industry. The versatility of bags is increasingly gaining the attention of packaging manufacturers. Hence, manufacturers in the moisture barrier bags market are introducing novel moisture-resistant bags that cater to the convenience of consumers.
Rigid Packaging Market – The demand in the global rigid packaging market has been increasing in past few years. One of the important factors behind this increasing demand is because of the advancements in sector of consumer goods manufacturing. In general, rigid packaging is used for packaging breakable products for a broad range of applications. The players operating in the global rigid packaging market have been striving hard to spread out their portfolios and expand their consumer base. These leading players in the market are now moving on from direct marketing tactics to inbound marketing and lead strategies to get new customers.
Seafood Packaging Market – According to the Food and Agriculture Organization (FAO), fish production is set to grow by around 18% in the next 10 years. Investments in the seafood production sector continue to pour in to strengthen fisheries management regimes, minimizing waste, and mitigate losses during transportation. As seafood production is set for inevitable growth in the coming years, stakeholders in the seafood packaging market are continually finding new ways to preserve the freshness of fresh products and minimize exposure to external factors that hinder the same.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Mr Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
SOURCE Transparency Market Research
Share this article