Global Foam Tray Market 2017-2021
About Foam Tray
Foam trays are mainly used in the packaging of food and are disposable after use. The foam trays find extensive application in the pharmaceuticals and industrial packaging. The trays are more appealing and attractive, besides protecting the food product from bacterial growth. The trays are available at minimal cost, in different shapes and colors, as per requirement. These trays are manufactured with good electricity insulation properties. They are resistant to moisture and help to package foods like red meat, poultry, and pork which produces meat purge. This helps to maintain the freshness and quality of food while moving from the producers to end-users along the supply chain.
Technavio’s analysts forecast the global foam tray market to grow at a CAGR of 3.52% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global foam tray market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Foam Tray Market 2017-2021
Technavio recognizes the following companies as the key players in the global foam tray market: DuPont, Novipax, Reynolds Group Holdings, and Sealed Air.
Other Prominent Vendors in the market are: Anchor Packaging, Berry Global, Coveris, Dart Container Corporation, D&W Fine Pack, Ecopax, Genpak, Placon, and Sirap Gema SpA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Demand for small sized or single serving packs. The demand for single serving packaged food has been increasing due to various reasons. The hectic schedules of the working population and the need for adequate quantities of food suiting individual needs are the major factors contributing to the demand for individual packaging. The growing number of single-person households is also affecting the demand for small sized or single serving packaging. In addition, there is a significant growth in the demand for convenient food packages in the market. This kind of packaging enables users to store food products for a longer time, due to improved shelf life.”
According to the report, one of the major drivers for this market is Increasing food safety issues. Food safety issues have been on the rise, turning out to be a growing concern. With the increasing globalization of food supply, the chances of food contamination are high, demanding enhanced food safety systems. These food safety issues arise due to food contamination and deterioration occurring at some point in the supply chain. Contamination can occur due to microbial growth, toxic chemicals or radioactive substances. This has affected the health of end-users consuming the food due to the presence of potentially harmful bacteria and viruses.
Further, the report states that one of the major factors hindering the growth of this market is Environmental effects of plastic. Plastics are produced from petroleum and natural gases, that are non-renewable resources extracted using energy intensive processes that harm the ecosystem. The process of manufacturing of plastics pollutes the environment and affects the health of the workers exposed to chemicals like carcinogens. In addition, the production of plastics results in the emission of harmful gases like sulfur oxides, nitrous oxides, methanol, and ethylene oxide among others.
DuPont, Novipax, Reynolds Group Holdings, Sealed Air, Anchor Packaging, Berry Global, Coveris, Dart Container Corporation, D&W Fine Pack, Ecopax, Genpak, Placon, and Sirap Gema SpA.
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