The rigid plastic trays market is expected is forescasted to grow at a CAGR of almost 5 % by 2023, as per Technavio's analysts

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Jan 09, 2019, 16:05 ET

LONDON, Jan. 9, 2019 /PRNewswire/ -- About this market
With the increasing health and environmental concerns due to the high use of plastics, the bio-based plastics are increasingly being used for manufacturing foodservice disposables. Over the years, several types of bioplastics have emerged and is available in the market. For instance, Polylactide (PLA) is a biodegradable and bioactive thermoplastic aliphatic polyester, which is produced from corn starch, sugarcane, cassava roots, chips, or starch. With this increasing adoption of PLA in the manufacturing of food disposables, there will be a decrease in demand for rigid plastic in the food disposables market. This, in turn, will affect the growth of the global rigid plastic food trays market during the forecast period. Nevertheless, the rigid plastic trays market is expected to grow at a CAGR of almost 5 % by 2023, as per Technavio's analysts.

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Market overview
The global rise in online food delivery applications
The rise in urbanization and busy work schedules in cities has triggered the growth of global food delivery and the takeaway market. Combine this with the easy access to mobile phones and the growing Internet technologies, the market for food delivery is at its all-time high. This, in turn, has led to an increase in the dark kitchens, which provide food for online deliveries. Consequently, the growing online food delivery applications will drive the global rigid plastic food trays market.
The high cost of recycling food service disposables
The recycling of various food service disposables such as plastic containers and food trays requires high capital, owing to the various costs such as procurement cost, energy expenditure, and value of scrap. This is proving to be a major challenge for the growth of the global rigid plastic food trays market.
For the detailed list of factors that will drive and challenge the growth of the rigid plastic food trays market during 2019-2023, view our report.

Competitive landscape
The rigid plastic food trays market appears to be fragmented with the presence of several companies and the competition is getting fierce with all companies focusing on improving their position in the market. The rise in online food delivery applications and the increased use of bioplastics are factors that are poised to provide immense opportunities for companies. Anchor Packaging, Bemis, Berry Global, Dart Container, and Genpak are some of the top companies in the rigid plastic food trays market.
'With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities. Companies in the rigid plastic food trays market are increasingly using the bioplastics owing to the rising environmental and health concerns created by the use of plastics.'

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