Global Foam Trays Market Size & Share Outlook up to 2024

Global Foam Trays Market: Overview

Foam trays are basically utilized for in various applications such as food, pharmaceuticals, and a wide range of industrial applications. Foam trays are made from several different varieties of polymers. Particularly for the applications in food industry, the highly versatile, inexpensive, and effortlessly disposable foam trays have become very important.

Global Foam Trays Market: Growth Factors

Increasing awareness about the harmful side effects on the environment of the several varieties of non-biodegradable foam trays is growing at a significant pace. Moreover, there is high demand for biodegradable products from consumers. Increasing focus on the use and production of a wide range of bio-degradable products is having positively impacting the global market growth. In the coming years, the global foam market is anticipated to witness high growth in terms of the overall utilization of several types of bearable substitutes including molded pulp, paperboard, bagasse-based containers, compostable paper containers, and corn plastic containers in a number of application areas.

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Global Foam Trays Market: Segmentation

The global foam trays market is segmented on the basis of the material used, end-use applications, and region. Based on the material used, the global market is segmented as polyester, polyethylene, polystyrene, and polypropylene. There is high consumption of foam trays in the market from numerous end-use applications. On the basis of applications, the global foam tray market is segmented as food packaging, pharmaceutical, and industrial applications. The food packaging segment is further categorized as dairy products, meat & poultry, food services, food chains, fruits & vegetables, and bakeries. Geographically, the global market is segmented as Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa.

Global Foam Trays Market: Regional Analysis

North America is anticipated to the foremost player in the global foam trays market in terms of volume and revenue. This growth is mainly due to the increasing demand for high priced, larger case-ready, and recyclable options of foam trays available in the region. On the other hand, some vetoes in the region on several varieties of non-biodegradable foam tray are expected to hinder the growth of the global market in the near future.

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Moreover, Asia Pacific is further anticipated to witness considerable growth and become one of the promising markets in the coming years. The booming food industry in Asia Pacific and increasing packaged as well as outside food consumption will have a positive impact on the global foam trays market in this region.

Global Foam Trays Market: Competitive Players

Some of the major players dominating the global foam trays market are D&W Fine Pack LLC, Pactiv LLC, Sealed Air Corporation, Coveris Holding SA, Anchor Packaging Inc., and Berry Plastics Group Inc. Few other key players influencing the global market include Genpak LLC, Placon Corporation Inc., Ecopax LLC, Dart Container Corporation, Sirap Group, and Groupe Guillin SA.

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