LONDON--(BUSINESS WIRE)--Technavio estimates the global foam tray market is expected to grow by USD 588 million, progressing at a CAGR of about 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is driven by increasing food safety issues. However, the environmental effects of plastic might challenge growth.
Foam Tray Market: Application Landscape
Based on the application, the market registered maximum growth in the food packaging segment in 2019. The growth of the segment is driven by the increase in volume production globally and the rising consumer demand for convenient packaging. The market growth in the segment will be significant over the forecast period.
Foam Tray Market: Geography Landscape
41% of the market’s growth originated from APAC in 2019. The increasing demand for food services and take away food services is the major factor fueling the growth of the foam tray market in APAC.
China and India are the key markets for foam trays in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Major Three Foam Tray Market Vendors:
Anchor Packaging Inc.
Anchor Packaging Inc. operates its business through segments such as Home delivery, Family meals, Foam alternatives, Clamshell, and Others. The company offers numerous foam trays under its BonFaire segment such as BF6200, BF5200, BF5216, BF5250, and others.
Cascades Inc. operates its business through segments such as Packaging Products and Tissue Papers. The company offers numerous foam trays under its Cascades Foam Tray segment such as 34MWWHITE, 16S HD Yellow, DT38400, and others.
CKF Inc. operates its business through segments such as PACKAGING, FOOD SERVICE, TABLEWARE, and CONTAINERS. The company offers numerous foam trays under its CFK Foam Meat Tray segment such as CKF 88010, CKF 88201, CFK 88114, CFK 88129, and others.
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Related Reports on Materials Include:
Global Egg Tray Market – Global egg tray market is segmented by geography (APAC, North America, Europe, South America, and MEA) and market landscape (Plastic and Paper). Get an Exclusive Free Sample Report to know more
Global Plastic-Based Egg Packaging Market – Global plastic-based egg packaging market is segmented by product (tray and carton) and geography (APAC, Europe, MEA, North America, and South America). Get an Exclusive Free Sample Report to know more
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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