Egg Tray Market in APAC - Growing Focus on Sustainability to Boost Growth | Technavio
The egg tray market in APAC is expected to grow at a CAGR of close to 6% from 2018-2022, according to a new market research report by Technavio.
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Technavio has published a new market research report on the egg tray market in APAC 2018-2022 under their transportation and logistics library. (Graphic: Business Wire)
Egg tray market in APAC segmentation by material and geography
Technavio’s report on the egg tray market in APAC analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by material, which includes plastic and paper. As projected in 2017, around 61% of the market share originated from the plastic segment. Plastic has numerous advantages which makes it suitable for egg packaging such as durability and reusability.
Based on geography, the egg tray market in APAC has been segmented primarily into China, India, and Indonesia. As of 2017, over 57% of the market share came from China.
“China is the top producer of eggs with more than 60% of the total production in APAC, which is generating the demand for eggs in the country. Moreover, the increasing urban population is becoming more health conscious as a result of which they prefer protein-rich foods such as eggs,” says a senior analyst at Technavio for packaging research.
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Egg tray market in APAC: competitive vendor landscape
The egg tray market in APAC is highly fragmented due to the presence of several international and regional players. The market in APAC is becoming competitive with key players focusing on strategies to grow their business. Vendors are trying to improve their product portfolio to gain a competitive advantage, for instance, Huhtamaki is offering Multi-K Plus trays, which provide excellent protection.
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Other topics covered in the report:
Market drivers:
- Increasing demand for eggs
- Rising need for food packaging
Market trends:
- Increasing popularity of digital printing on packaging
- Growing focus on sustainability
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