Foam Trays Market Growth and Service Types Market 2021
The global market for foam trays is largely driven by the flourishing food and beverages and fast food industries, and the rising popularity of take-away food services in countries like India, Indonesia, and China. The cost effectiveness of foam trays and the rising demand for expanded polystyrene (EPS) foam trays, along with features such as low cost of labor, shock absorbance, low weight, durability, and flexibility are the other key factors driving the global market for foam trays.
The report on the global foam trays market presents a detailed analysis, forecast, and numerous estimates about the market in terms of revenue and demand between the years 2009 and 2021. The report also comprises a detailed analysis of the key driving and restraining factors impacting the market and affecting the market’s overall development. The report also presents an overview of the key trends observed in past years as well as those prevailing at present. Forecast regarding the potential implication of the various drivers, restraints, and trends on market’s future development makes the report a guidebook for efficient decision making.
The report presents a detailed overview of the market on the basis of product type, application type, and geography. Detailed information regarding market volume and revenue for all the market segments are also included in the report. The market operations in the key regional markets are also studied in detail.
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The data included in the report is obtained through primary and secondary research methodologies. The information sourced is evaluated using industry-leading analytical techniques for presenting before the readers the most accurate and precise bits of market statistics and general data.
Global Foam Trays Market: Overview
The key types of foam trays discussed in the report, on the basis of the material used, include polyethylene, polyester, polypropylene, and polystyrene. Consumption statistics for these product segments are provided for applications such as pharmaceutical, food packaging, and industrial applications. The segment of food packaging is further sub-segmented into meat and poultry, dairy products, food services, fruits and vegetables, food chains, and bakeries.
The report states that the global market for foam trays, which had a valuation of US$2 bn in 2009, will expand at a positive, although a moderate 3.2% CAGR between 2009 and 2021 and reach US$3 bn by 2021. Volume-wise, the market is expected to expand at a 4.4% CAGR over report’s forecast period and rise from 31.7 bn units in 2009 to 52.8 bn units by 2021.
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Of the key application segments of foam trays studied in the report, the segment of food packaging enjoys the lead, by accounting for more than 80% of the market, both in terms of revenue and volume, in 2014. Apart from cost-effective and flexible nature of foam trays, the rising popularity of multi-national food chains in developing nations is also a key driving force for the expanding market for foam trays.
Of the key regional markets for foam trays, Asia Pacific led the market with a 33% share, closely followed by North America, which acquired a 30% share in the market.
Global Foam Trays Market: Key Vendors
Some of the key businesses operating in the global foam trays market include Sealed Air Corporation, Pactiv, LLC, Anchor Packaging, Inc., D&W Fine Pack, LLC, Placon Corporation, Inc., Coveris Holding, S.A., Genpak LLC, Berry Plastics Group, Inc., Ecopax, LLC, Groupe Guillin SA, Dart Container Corporation, and Sirap Group.