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Plastic Meal Tray Market - Global Industry Analysis & Key Insights by 2024
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Many food industry players are searching for alternative for Styrofoam packaging. Plastic meal trays are the solution for them. These kind of plastic meal tray also allows vacuum and gas packaging. It is now becoming a widely excepted product because of its benefits such as easy to seal and it allows vacuum and gas packaging.
Due to socio-economic advancement all over the world and changing lifestyle, ready and packed meals has become a widespread solution for modern people. This is acting as one the important driver for plastic meal tray market. Demand for readily available fresh food, frozen food, dry fruits etc. is also driving plastic meal tray market. Attractive visual appearance and convenience to use are additional aspects which are expected to drive the plastic meal tray market. Moreover because of its environmental benefits recyclable plastic meal trays it is being used in college, schools and office canteens extensively. The plastic meal tray market is driven by the trend of shifting interest of consumers towards processed and specialty food. High raw material cost in less developed countries can act as restraint for this plastic meal tray market.
Introduction of more eco-friendly tray material like sugar cane or bagasse trays may act a threat to this plastic meal tray market.
Based on the type of plastic used the plastic meal tray market is segmented into:
Polypropylene
CPET
Others (RePET, HIPS, HDPE and APET)
Based on the application the plastic meal tray market is segmented into:
Cold and Frozen food
Prepared foods (hot) and ready to eat meals
Kosher meals
In terms of geography, the plastic meal tray market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The plastic meal tray market is expected to register healthy CAGR during the forecast period. North America is anticipated to be the dominant market for plastic meal tray market followed by Asia Pacific and Europe. The market in Asia-Pacific region is expected to grow at highest CAGR over the forecast period. Countries with more population like China, India, USA etc. are likely to provide abundant opportunities for the growth of the plastic meal tray market.
Some of the key players in the plastic meal tray market are Food Packaging (GREENDALE), Sonoco Products, Pactiv LLC, Cambro etc.
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