Press release
Drink Carrier and Trays Market: Soaring Demand Assures Motivated Revenue Share during 2018-2028
In recent years, there has been an increasing demand for food service industry across the globe. Drink carrier and trays are one of the most important packaging segment for beverage manufacturers. Due to constraints related to environment friendly packaging, nowadays manufacturers are producing drink carrier and trays made from biodegradable plastic and paper.
In addition, consumers are preferring single served beverages which is a major driver for creating growth opportunities for drink carrier and trays market. Furthermore, drink carrier and trays are used by packaging manufacturers for augmenting there brand name and hence creating impact on consumer’s mind. Nowadays, drink carrier and trays have seen a rise in demand for carrying alcoholic beverages and this trend is expected to grow significantly during the forecast period.
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Global Drink Carrier and Trays Market - Dynamics
Changing lifestyle of consumers with increasing per capita income is expected to drive the growth for the global drink carrier and trays market. In addition, there has been an increase in the number of quick service restaurants across the globe which has resulted in the growth of drink carrier and trays needed for food delivery. Convenience due to light weight of drink carrier and trays are gradually helping the market to witness growth during the forecast period 2018 - 2028. Furthermore, drink carrier and trays are cost effective, increase the aesthetic looks of the beverage and easy to carry which helps in the growth of drink carrier and trays market.
Global Drink Carrier and Trays Market – Regional Overview
The market for drink carrier and trays in North America and Europe region is anticipated to lead the global market owing to widespread trend for food service and on the go beverages in these region during the forecast period. Asia Pacific drink carrier and trays markets is expected to witness the highest growth due to increase in per capita income for the emerging economies in these region. Furthermore, countries like China and India have seen change in urban lifestyle which have resulted in a tremendous growth for drink carrier and trays market. The Middle East & Africa drink carrier and trays market is projected to witness sluggish growth during the forecast period.
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Global Drink Carrier and Trays Market – Key Players
Some of the key players operating in the drink carrier and trays market are Smurfit Kappa Group plc, Stora Enso Oyj; Georgia-Pacific LLC; Huhtamaki Oyj; Graphic Packaging International, LLC; WestRock Company; RTS Packaging, LLC; DS Smith Plc; Keystone Paper & Box Company, Inc.; Grip-Pak, Nupak Printing LLC, and Menasha Packaging Co., LLC.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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