Paper and Paperboard Trays Market to Reach US$ 7,694.18 million at a CAGR of 5.8% in 2028 | The Insight Partners

According to The Insight Partners latest market study on "Paper and Paperboard Trays Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material (Virgin Fiber and Recycled Fiber) and Application (Food & Beverages, Consumer Electronics, Personal Care & Cosmetics, Healthcare, and Others),'' the market is projected to reach US$ 7,694.18 million by 2028 from US$ 5,195.24 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, cosmetics and personal care products, healthcare tools and equipment, and consumer goods such as glassware and jewellery.

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The Prominent/Emerging Players in the Paper and Paperboard Trays Market includes:

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

Paper and Paperboard Trays Market Segment Analysis:

By Material
• Virgin Fiber
• Recycled Fiber

By Application
• Food and Beverages
• Consumer Electronics
• Personal Care and Cosmetics
• Healthcare
• Others

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Paper as a packaging material is undergoing a restoration, as consumers perceive it as an environmentally friendly and high-value material. Paper has the advantage of being biodegradable, recyclable, and bio-based. Recent studies from the Institute for Energy and Environmental Research (Germany) exhibited a significantly lower impact of paper-based packaging on the environment than many other materials. Globally, paper-based packaging can tackle marine debris and lead to a lower impact of packaging in the environment. A paradigm shift in consumer behavior toward adopting sustainable packaging solutions is boosting manufacturers to focus on green packaging, thereby driving the growth for paper and paperboard trays market.

The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants in regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing capabilities, delivery schedules, and sales of various goods. The pandemic has directly affected the production and demand, which has led to supply chain and market disruption, and has subsequently impacted the financial status of the firms and the global economy. Packaging is one of the major industries suffering serious disruptions such as supply chain breaks and shutdowns of production plants.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.