December 02, 2020
According to the research report titled ‘Global Plastic Ready Meal Trays Market Size study, By Material (Polypropylene [PP], Polyethylene Terephthalate [PET], and Others), By Molding Technology (Injection Molding and Thermoformed Molding), By Tray Type (Single Cavity and Multi Cavity), By End Use (Food Producers & Processors, Restaurants, Catering Services, Food Courts, and Online Food Delivery), and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global plastic ready meal trays market is expected to experience considerable expansion during 2020-2027.
Rising demand for ready-to-eat food products in metro cities, shifting dietary habits of individuals, and increasing preference for convenience food are the major factors driving the growth of global plastic ready meal trays industry. Further, benefits associated with plastic ready meal trays such as high quality, consistency, elegance, eco-friendly, strength, lightweight, and recyclable nature are contributing to the market growth.
Moreover, increasing competition for versatile packaging of different products based on their characteristics such as medical, kosher, herbal, and seasonal goods is positively influencing the global plastic ready meal trays market growth.
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Additionally, surging supply chain productivity, adoption of fully recyclable ready-to-eat trays across food & beverage sector, and rising health awareness are stimulating the worldwide plastic ready meal trays market outlook. However, environmental concerns regarding non-recyclable trays is a major factor expected to hamper the market growth.
Based on end-use spectrum, worldwide plastic ready meal trays industry is segmented into food courts, food producers & processors, online food delivery, catering services, and restaurants. With regards to type, the industry is bifurcated into single-cavity, and multi-cavity. Considering the molding technology, the industry is divided into thermoformed molding, and injection molding. Speaking of material terrain, the industry is classified into polyethylene terephthalate (PET), polypropylene (PP), and others.
From a regional frame of reference, North America plastic ready meal trays market is witnessing significant returns in recent times mainly due to shifting preference from plastic bottles to plastic ready meal trays in healthcare sector, as well as rising consumption of processed food items in the region.
Major players operating in global plastic ready meal trays industry include R. Faerch Plast A/S, Quinn Packaging Ltd., Sealed Air Corporation, Sabert Corporation, MCP Performance Plastic Ltd., Silver Plastics GmbH & Co. KG., Versatile Packaging Industries, Sonoco Products Company, CMActive Pty Ltd., Genpak LLC, Portage Plastics Corporation, Huhtamaki Oyj, Bemis Company Inc. (Amcor), and CiMa-Pak Corporation.