Jan 10, 2022   SOURCE: BusinessWire

Insights on the Paper and Paperboard Trays Global Market to 2028 - Growth of Flexible Paper Packaging Presents Opportunities - ResearchAndMarkets.com

The "Paper and Paperboard Trays Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Material (Virgin Fiber and Recycled Fiber), Application (Food and Beverages, Personal Care and Cosmetics, E-Commerce Packaging, Healthcare, and Others) and Geography" report has been added to ResearchAndMarkets.com's offering.

The paper and paperboard trays market is projected to reach US$ 7,319.26 million by 2028 from US$ 4,942.09 million in 2021; it is expected to register a CAGR of 5.8% from 2021 to 2028.

Paper and paperboard trays are packaging products generally used for packaging fresh fruits and vegetables, eggs, salads, dry fruits, and other food and beverage products. These trays are also being used for packaging consumer electronic products such as mobiles, laptops, earphones, printers, cosmetic and personal care products, healthcare tools and equipment, and consumer goods such as glassware and jewellery. These trays are made of virgin or recycled fiber. They offer cushioning to the products inside the package to ensure their safety in transit.

Based on material, the global paper and paperboard trays market is divided into virgin fiber and recycled fiber. The virgin fiber segment held a larger share of the global paper and paperboard trays market in 2020. Virgin fiber is obtained from the pulp of fresh wood. The paper made from virgin fiber is free from recycled materials. Virgin fibers are widely used in the packaging industry to manufacture paper and paperboard products. Paperboard trays used for packaging food products such as fruits, eggs, and vegetables are made using virgin fibers because they ensure food safety by preventing taint, odor, and migration issues, as well as meet the food safety regulations. Virgin fibers have high strength and are not easily susceptible to breakage.

Geographically, the paper and paperboard trays market is segmented into North America, Europe, Asia Pacific, South and Central America, and the Middle East & Africa. In 2020, Asia Pacific held the largest revenue share of the global paper and paperboard trays market. The market for paper and paperboard packaging across Asia Pacific has witnessed a notable growth owing to expanding packaging industry, food retail and foodservice sector growth, and rising consumer awareness about sustainable packaging solutions across the region.

The foodservice sector in Asia Pacific is expanding owing to growth in the tourism sector and improving lifestyles of consumers, as well as rising disposable income levels. Manufacturers of paper and paperboard trays are largely focusing on expanding their operations across Asia Pacific owing to presence of potential customer base, cheap infrastructure and labour facilities, abundance of resources, and free trade policies. This factor is expected to open lucrative opportunities for the manufacturers in coming years.

Reasons to Buy

  • Highlights key business priorities to assist companies realign their business strategies.
  • Features key findings and crucial progressive industry trends in the global paper and paperboard trays market, thereby allowing players to develop effective long-term strategies.
  • Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
  • Scrutinizes in-depth market trends as well as key market drivers and restraints.
  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Market Dynamics

Drivers

  • Growing Demand for Sustainable Products
  • Investments in Paper and Paperboard Trays

Restraints

  • Insufficiency of Paper-Based Materials in Conferring Complete Protection to Packaged Goods

Opportunities

  • Growth of Flexible Paper Packaging in Emerging Regions

Future Trends

  • Popularity of Ovenable Paper and Paperboard Trays in Food and Beverages Sector

Companies Mentioned

  • Huhtamaki
  • Mondi
  • Pactiv Evergreen Inc.
  • UFP Technologies, Inc.
  • Hartmann
  • Orcon Industries
  • International Paper
  • Athena Superpack Private Limited
  • PaperTech
  • SOLUT!

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