Paper Trays Market Led to Achieve Impulsive Growth during Forecast Period (2018-2028) || Key Players - Colpac Ltd., Mondi Group Plc., Huhtamaki Oyj, International Paper

A fresh report has been added to the wide database of Fact.MR. The research study is titled “Paper Trays Market Led to Achieve Impulsive Growth during Forecast Period (2018-2028)” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview.

The Paper Trays Market is likely to grow at a healthy 3.9% value CAGR throughout 2027, according to a latest Fact.MR study. The momentum in the paper trays market can be attributed to growing focus on sustainability, which includes reducing packaging waste and adopting recyclable packaging materials.

Growing consumer preference toward greener packaging solutions is driving heavy investments in the paper trays market. Anticipating the lucrativeness of the paper trays market and future growth opportunities, manufacturers are introducing a wide design range of paper trays, which is proving to be a winning product differentiation strategy for paper packaging businesses.

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Tier one companies in the paper trays market, namely, Mondi Group Plc, Huhtamaki Oyj and Billerud AB, are consolidating their positions in the developed countries. Collectively accounting for over 15 percent of the overall paper trays market, these companies have their grounds set up in the North America region and Europe respectively.

However, these companies have been focusing on emerging economies in the Asia Pacific, such as China and India, in a bid to expand their footprint at the international level. Moreover, tapping huge growth potential in Asia Pacific with respect to sales potential of paper trays has been the focal point of tier 1 companies.

Key strategies of tier 1 companies in paper trays market have been expansion of manufacturing facilities, new product launches and strategic alliances. Using these strategies, they are fixated on expanding their visibility in the forthcoming years. In 2017, Mondi Group Plc acquired Powerflute Group that operates paper and pulp mill. The €365 million acquisition would ensure high quality packaging and paper assets for the company along with geographic expansion and enhancement of Mondi’s paper trays scenario.

Tier 2 Players Account for Over 25% Market Share

Two main participants in the tier 2 category involved in the manufacturing of paper trays collectively account for a significant share of the overall paper trays market. Companies such as Stora Enso Oyj, and International Paper account for over 25 percent revenue share of the paper trays market with a significant revenue generation from European countries and North America region respectively.

Companies in the paper trays market are also initiating collaborations with local players to enhance their paper tray product penetration. For instance, Graphic Packaging combined with International Paper’s consumer packaging business in North America, with the latter owning 20.5% share and former owning 79.5% share of the combined company. This strategic amalgamation can serve as a huge platform for Graphic Packaging in the paper trays space, making it one of the leading companies in paper-based packaging sector.

Supermarkets to Prefer Paper Trays Over Plastic Counterparts

The paper trays market is largely influenced with growing demand from supermarkets worldwide. The ongoing plastic bans on account of environmental safety has transformed the FMCG packaging landscape as vendors of FMCG products and other consumer goods including food and beverages opt for paper trays and their variants such as fiber paper trays. Sustainability and fit for purpose paper trays are making a new entrance among food chains and supermarkets on the back of environment friendly production process of paper trays.

Companies in the paper trays market are leveraging this factor by linking with such supermarkets to promote their products. For instance, in 2018, Iceland Foods has linked with Stora Enso Oyj to replace plastic trays with paper trays. Iceland Foods would now be introducing its street food range in paper trays.

Likewise, tier 1 players have also started collaborations with local supermarkets for the same cause. For instance, in October 2018, Huhtamaki Oyj has collaborated with Waitrose & Partners, a UK based supermarket. The collaboration is to test the fiber-based recyclable tray by Huhtamaki for a period of two months.

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Molded fiber paper trays are gaining significant traction on the back of growing inclination toward sustainable packaging. Apart from being eco-friendly and biodegradable, paper trays from molded fibers feature relatively higher strength and high resistance against dampening. In addition, molded fiber paper trays are cost effective with minimum warehouse and inventory cost.

Plant-Based Plastic Trays Emerge as Effective Alternative to Paper Trays

Players involved in plastic packaging have been focused on solving plastic problem. A shift toward using plant-based plastics in the manufacturing of paper trays has been witnessed. Paper trays from plant-based plastics are environment friendly, feature high strength and are a sustainable business practice. Cornstarch is one of the widely used material in paper trays made from plant-based plastics and have limited negative impact on environment. This factor continues to challenge the adoption of paper trays, in turn restricting the growth of the paper trays market.

The report on paper trays market includes detailed assessment and business outlook of key companies involved in the manufacturing and distribution of paper trays. Key facets of the paper trays market competition landscape such as SWOT analysis, product portfolio, developments, acquisitions, strategies and key financials are covered. Key manufacturers of paper trays such as Colpac Ltd., Mondi Group Plc., Huhtamaki Oyj, and International Paper have been profiled in the report.

Companies in the paper trays market are focused on enhancing their paper trays portfolio by launching novel paper trays that can be used across a variety of applications. Colpac Ltd., has launched compostable ovenable tray, an extension to its paper food packaging portfolio. Likewise, in September 2018, Mondi Group Plc has launched patented barrier and paper solution for food packaging. The new offering will feature a paper construction with unique barrier protection, which is well-suited for the food industry.

In 2017, Yash Papers has launched a new range of eco-friendly and compostable tableware, an extension to its paper trays portfolio. With an investment of over 60 cores, the company established a new plant manufacturing biodegradable and eco-friendly paper trays and other tableware.

In a bid to expand their global reach, paper trays market participants are acquiring packaging operations of other counterparts. Huhtamaki Oyj acquired International Paper’s food service operations in China in order to enhance its brand visibility across emerging economies and grab major share in the Asia Pacific paper trays market.

Key players in the paper trays market are initiating joint ventures and acquisitions in a bid to cater to growing needs of new clientele. Huhtamaki Oyj has initiated a joint venture with CupPrint, wherein it acquires majority of shares (70%). Main focus behind this US$ 22 million acquisition is to enhance Huhtamaki’s digitalization competences. This acquisition in the paper trays space can facilitate reduced lead times and benefits of Huhtamaki’s financial strength and global footprint.

Definition

Paper trays are widely used for protective packaging of food products. Paper trays come in different grades namely virgin and recycled fibers. Paper trays are manufactured using material such as corrugated boards, molded pulp and boxboards. Paper trays are widely used across a cohort of applications including but not limited to food products, healthcare products, personal care and retail based applications.

About the Report

The report on paper trays market is a comprehensive compilation of various factors impacting the demand and sale of paper trays across several application areas. The paper trays market report covers key dynamics reflecting various growth drivers, restraints, opportunities and trends influencing the demand for paper trays worldwide. In addition, information on regional acceptance and sales of paper trays is also covered in the paper trays market report. The paper trays market report also includes historical sales data of paper trays, current paper trays scenario and future demand and sales of paper trays across key countries in the globe.

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