The paper and paperboard trays 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 of 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. These trays are made of virgin or recycled fiber. They offer cushioning to products inside the package to ensure their safety in transit.
In 2020, Asia Pacific held the largest revenue share of the global paper and paperboard trays market. The market for paper and paperboard packaging across Asia Pacific has witnessed a notable growth owing to rapidly expanding packaging industry, growth of food retail and foodservice sector, and rising consumer awareness about sustainable packaging solutions across the region. The foodservice sector in Asia Pacific is expanding owing to growth in the tourism sector and improving lifestyles of consumers, as well as rising disposable income levels. Manufacturers of paper and paperboard trays are largely focusing on expanding their operations across Asia Pacific owing to the presence of a large customer base, cheap infrastructure and labor facilities, abundant availability of resources, and free trade policies. This factor is expected to open lucrative opportunities for manufacturers in coming years.
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Paper and Paperboard Trays Market: Strategic Insights
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Paper and Paperboard Trays Market: Strategic Insights
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Impact of COVID-19 Pandemic on 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.
With the spread of COVID 19 across the globe, most countries declared a health emergency and stopped unessential movements, thereby impacting heavily on the supply chain of goods. Disruptions in the supply chain caused slowdowns. Manufacturing facilities hustled to make changes due to social distancing, causing more disruption and slowdowns. Paper and paperboard industry may continue to see weak or broken links in their supply chains. Moreover, self-isolation has resulted in short supply and plethora of manufacturing units is sourcing supply chains away from China.
Market Insights
Growing Demand for Sustainability Products to Drive Paper and Paperboard Trays Market
The rising global demand for sustainable and flexible packaging applications in several industries, notably the food and beverages sector, is a crucial factor driving the global paper and paperboard trays market. The growing demand for cost-effective paperboard packaging for food and drinks is also another vital factor stoking the demand for paper and paperboard trays. Governments and other regulatory bodies are emphasizing the use of recyclable products owing to the growing environmental concerns. Moreover, they have laid down stringent regulations pertaining to the use of sustainable product, which is one of the prominent factors propelling the growth of the paper and paperboard trays market.
Material Insights
Based on material, the global paper and paperboard trays market is divided into virgin fiber and recycled fiber. The virgin fiber segment held a larger share of the global paper and paperboard trays market in 2020. Virgin fiber is obtained from the pulp of fresh wood. The paper made from virgin fiber is free from recycled materials. Virgin fibers are widely used in the packaging industry to manufacture paper and paperboard products. Paperboard trays used for packaging food products such as fruits, eggs, and vegetables are made using virgin fibers because they ensure food safety by preventing taint, odor, and migration issues, as well as meet the food safety regulations. Virgin fibers have high strength and are not easily susceptible to breakage.
Application Insights
Based on application, the global paper and paperboard trays market is categorized into food and beverages, consumer electronics, personal care and cosmetics, healthcare, and others. The food and beverages segment held the largest share of the global paper and paperboard trays market in 2020. Paper and paperboard trays have been widely used for packaging food products such as eggs, fresh fruits and vegetables, and salad. These trays provide cushioning to delicate surface of these products to ensure safety during transportation. Paper and paperboard trays ensure proper ventilation inside the package to keep the food products fresh. Moreover, these trays ensure food safety by protecting the food from contamination and odor. They also meet the food safety regulations, making them one of the most preferred packaging alternatives across the food & beverages industry.
Huhtamaki; Mondi; Pactiv Evergreen Inc.; UFP Technologies, Inc.; Hartmann; Orcon Industries; International Paper; Athena Superpack Private Limited; PaperTech; and SOLUT! are among the key market players in the global paper and paperboard trays market. Players operating in the market are highly focused towards the development of high quality and innovative product offerings to fulfil the customer’s requirements.
Report Spotlights
- Progressive industry trends in the paper and paperboard trays market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the paper and paperboard trays market from 2019 to 2028
- Estimation of global demand for paper and paperboard trays
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the paper and paperboard trays market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the paper and paperboard trays market size at various nodes
- Detailed overview and segmentation of the market, as well as the paper and paperboard trays industry dynamics
- Size of the paper and paperboard trays market in various regions with promising growth opportunities
Paper and Paperboard Trays Market Regional Insights
Paper and Paperboard Trays Market Regional Insights
The regional trends and factors influencing the Paper and Paperboard Trays Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Paper and Paperboard Trays Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Paper and Paperboard Trays Market
Paper and Paperboard Trays Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5.2 Billion |
| Market Size by 2028 | US$ 7.69 Billion |
| Global CAGR (2021 - 2028) | 5.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Paper and Paperboard Trays Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Paper and Paperboard Trays Market are:
- Huhtamaki
- Mondi
- Pactiv Evergreen Inc.
- UFP Technologies, Inc.
- Hartmann
Disclaimer: The companies listed above are not ranked in any particular order.
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Global Paper and Paperboard Trays Market
By Material
- Virgin Fiber
- Recycled Fiber
By Application
- Food and Beverages
- Consumer Electronics
- Personal Care and Cosmetics
- Healthcare
- Others
Company Profiles
- Huhtamaki
- Mondi
- Pactiv Evergreen Inc.
- UFP Technologies, Inc.
- Hartmann
- Orcon Industries
- International Paper
- Athena Superpack Private Limited
- PaperTech
- SOLUT!
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The demand for paper and paperboard trays for consumer electronics have been witnessing significant growth over the years. It is expected to be one of the fastest growing application segments of the global paper and paperboard trays market. These products are delicate and are susceptible to damage caused by heavy impacts during transportation. Paper and paperboard trays ensure safety of the electronic gadgets and prevent damages caused by heavy impacts and mishandling of the goods in transit.
Rapidly growing packaging industry, food retail and foodservice sector, and rising consumer awareness about sustainable packaging solutions across the region have significantly contributed to the growth of the paper and paperboard trays market in Asia Pacific. Improving lifestyles and tourism sector in the region has also aided the growth of the retail food sector in the region. Such factors have propelled the demand for paperboard trays in Asia Pacific.
Paper and paperboard trays have been widely used for packaging food products such as eggs, fresh fruits and vegetables, and salad, among others. These trays provide a cushioning effect to the delicate surface of these products and ensure their safety during transportation. Paper and paperboard trays ensure proper ventilation inside the package which keeps the food products fresh.
Virgin fiber accounted for the largest share of the paper and paperboard trays market. Paper can only be recycled up to 5-6 times. Hence, a steady supply of virgin fiber is necessary to meet the growing demand for paper based packaging. However, recycling benefits and incentives provided by the regulatory authorities have increased the penetration of recycled fiber in the paper and paperboard trays market.
The major players operating in the global paperboard trays market are Huhtamaki, Mondi, UFP Technologies, Pactiv LLC, Hartmann, Orcon Industries Corporation, International Paper, Arthena Superpack Private Limited, Papertech, and Solut among many others.
Paper and paperboard trays are used in a wide array of industries ranging from food and beverages, consumer goods, healthcare and many others. They play a vital role in sustainable packaging and with the growing interest in shifting away from single-use plastic, paper based packaging solutions have been witnessing significant demand.
Based, on material, the paperboard trays market is virgin fiber and recycled fiber. Based on application, the global paperboard trays market is segmented into food and beverages, consumer electronics, personal care and cosmetics, healthcare, and others.
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The List of Companies - Paper and Paperboard Trays Market
- Huhtamaki
- Mondi
- Pactiv Evergreen Inc.
- UFP Technologies, Inc.
- Hartmann
- Orcon Industries
- International Paper
- Athena Superpack Private Limited
- PaperTech
- SOLUT!
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