The food trays market is worth USD 10.041 billion in 2023 and is worth USD 17.48 billion by 2033. The food trays market is accelerating at a CAGR of 5.7% from 2023 to 2033.
The food trays market is predicted to generate an incremental potential of USD 628.4 million by the end of 2033, owing to the rising consumption of packaged foods. Plastic food trays are expected to account for a key portion of the global market. Additionally, the growing demand for moisture-proof and spill-proof packaging solutions is driving up demand for plastic food trays.
The food trays market has a bright future with excellent growth potential. A crucial driving factor is the increasing desire for easy and on-the-go food consumption. Moreover, food trays are popular in a variety of venues, including restaurants, cafeterias, and events, since they provide a handy option for packaging and serving meals.
The market is also benefiting from increased awareness of environment-friendly packaging options, which has resulted in the launch of sustainable and biodegradable food trays.
Material advancements and design developments are improving the appeal and functionality of food trays. The food trays industry is likely to rise steadily in the future years, owing to shifting consumer preferences and the demand for effective food packaging solutions.
| Attributes | Details |
|---|---|
| Food Trays Market CAGR (2023 to 2033) | 5.7% |
| Food Trays Market HCAGR (2018 to 2022) | 3% |
| Food Trays Market Size - 2023 | USD 10.041 billion |
| Food Trays Market Size - 2033 | USD 17.48 billion |
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The market outlook for food trays in the past and the future shows both obvious similarities and variances. Similarities between the two periods show a rising demand for food trays driven by elements such as rising consumer preference for quick meals on the go.
Significant variances also exist. The historical outlook depicts how the market has performed in the past, which may have been impacted by a variety of variables, including:
The forecast period, on the other hand, accounts for predicted future trends and changes, which may include new packaging materials, sustainability initiatives, or shifting regulatory needs. The forecast period frequently displays a hopeful picture, with great growth rates projected based on:
It takes into account changing consumer tastes as well as the industry's response to environmental concerns. While the historic outlook provides insight into the market's previous performance, the forecast period provides a forward-looking perspective, highlighting the potential growth and opportunities for the food trays industry that lie ahead.
Owing to the development of appealing, user-friendly applications and tech-enabled driver networks, the delivery of ready-to-eat meals has become a significant sector. In addition, the demand for food trays may be largely driven by changing consumer expectations.
Early in the epidemic, lockdowns and physical distance restrictions greatly boosted the industry, with delivery serving as a lifeline for the faltering restaurant industry. It is anticipated that it might one day establish itself as a constant fixture in the eating scene.
The high need for convenience and changes in eating habits have led to a large acceptance of ready-to-eat foods. In tier 1 cities, where a considerable section of the populace chooses to order takeaway or buy online rather than make their meals, demand for ready-to-eat food has consequently expanded significantly.
The selling of ready-meal food trays is anticipated to rise significantly in both the food court and online food delivery industries.
Principal Consultant
| Region | Value |
|---|---|
| North America | a25.9% |
| Europe | 17.1% |
The busy lifestyles of customers surge North America food tray industry, creating a high need for handy and on-the-go food packaging solutions. Moreover, sustainable packaging is also gaining popularity in this region, with an emphasis on decreasing plastic waste and using environment-friendly materials.
Europe is seeing an increase in demand for food trays due to the popularity of takeaway meals, food delivery services, and convenience foods. Strict rules supporting sustainable packaging and the use of recyclable materials impact the market. Moreover, customization and product innovation are other important aspects driving this region's industry.
Asia Pacific region, led by China, India, and Japan, is seeing significant urbanization and a shift in lifestyle. This has raised the need for food trays in the restaurant and retail industries. Rising consumer awareness of sustainable packaging options, as well as the adoption of Western eating habits, is driving market expansion.
The burgeoning tourism industry, rising urbanization, and shifting food consumption patterns are driving the Middle East and Africa food trays industry. Food packaging that is both convenient and disposable is in high demand, particularly in metropolitan settings.
2023 Value Share in the Global Market:
| Country | Value |
|---|---|
| The United States | 23.9% |
| Germany | 3.3% |
| Japan | 4.8% |
| Australia | 2.4% |
Value CAGR (2023 to 2033):
| Country | Value |
|---|---|
| China | 6.8% |
| India | 7.7% |
| The United Kingdom | 2.2% |
The food trays industry in the United States is changing significantly due to several variables. Further, there is an increase in the demand for quick and portable meal options because of busy lifestyles and shifting customer preferences. As a result, food trays are now being used frequently in a variety of restaurants and retail stores.
The usage of biodegradable and recyclable materials for food trays is being driven by an increasing focus on sustainability and eco-friendly packaging options.
Technology and manufacturing process improvements are enabling the creation of creative and personalized food tray solutions. These solutions may be tailored to meet particular requirements and improve the overall eating experience. The meal tray market in the United States is shaped by a combination of these variables. FMI analysis states that the United States is expected to hold USD 265.5 million in 2033.
For the foreseeable future, China is projected to maintain its position as the industry's top producer of food trays. The nation boasts a sizable labor force, a developed manufacturing infrastructure, and low production costs. These elements have made it possible for China to dominate several manufacturing industries, including packaging.
China has been actively increasing its production capacities by investing in cutting-edge technologies and automation. The nation's status as a manufacturing leader is also influenced by its developed supply chain networks and robust export-oriented economy. It is crucial to remember that global dynamics might change, and other nations could one day become leading competitors in the production of food trays.
Germany’s food trays business is expanding and developing significantly. The country's food business is robust, with a high demand for convenience foods, takeaway meals, and ready-to-eat options. This has led to an increase in the use of food trays in a variety of food service venues, including restaurants, cafes, and fast-food chains.
Germany has actively promoted sustainability and environmental responsibility, which has resulted in an increasing desire for eco-friendly packaging options. As a result, there is a growing market demand for biodegradable and recyclable food trays.
Germany’s food tray industry is seeing design and functionality changes, with food tray manufacturers adopting features such as compartmentalization and microwave-safe materials. In response to shifting consumer tastes and sustainability trends, the market is positioned for continuous expansion and evolution.
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| Segment | Material |
|---|---|
| Segment Name | Plastic |
| Segment Share | 52.7% |
Plastic is the most used material for manufacturing food trays and it holds almost 66.5% of the total food trays market. To get a large market share, manufacturers in the plastic trays market are exclusively focusing on methods such as product innovation, mergers, and acquisitions. Further, they are providing cost-effective solutions and focusing on the expansion of their manufacturing capabilities to stay ahead of the curve.
With technological advancements and the launch of innovative items made of various materials such as PV having distinct qualities that allow its food trays manufacturers to separate from the crowd. The demand for plastic as the preferred choice of material may grow. Through the forecast period, the availability of sophisticated plastic trays is expected to be of advantage for food trays manufacturers.
According to the Journal of Cleaner Production, a single kilogram of plastic tray produces more than 1.5 kilograms of carbon dioxide over the course of its lifetime. To reduce this carbon footprint, instead of manufacturing single-use plastic trays, manufacturers are now producing reusable plastic trays. It is expected to increase plastic tray sales by 170% over the next decade.
| Segment | End-use |
|---|---|
| Segment Name | Commercial |
| Segment Share | 46.9% |
Among end-use, the restaurants & cafes segment may account for the maximum sales of food trays in 2023 and is poised to maintain its dominance through the course of the forecast period. Demand in the sector is expected to accelerate at a CAGR of 4.5% through 2033.
The food trays industry is highly competitive, with multiple competitors contending for market share. The food tray manufacturers are continually developing to provide trays with improved utility, durability, and aesthetic appeal.
Further, to respond to a wide range of customer needs, key competitors attempt to differentiate themselves through unique designs, eco-friendly materials, and customization choices.
The global food trays industry is extremely fragmented and competitive, with several local and regional rivals. Key food trays manufacturers employ several marketing methods, such as mergers and acquisitions, expansions, collaborations, and partnerships As a tactical way to increase their market presence among consumers, top food tray manufacturers concentrate on new product introductions. As a result of these procedures, improved plastic trays have been introduced.
Novel Market Advancements and Innovations
| Date | January 2022 |
|---|---|
| Company | Waddington Europe |
| Details | Waddington Europe, a subsidiary of Novolex and one of the top thermoforming packaging experts, has launched mono-material recyclable meat trays. |
| Date | November 2021 |
|---|---|
| Company | Amcor |
| Details | Amcor collaborated with the Australian industry on the Australian Advanced Recycling Feasibility Study. The company intends to use recycled materials in food packaging. |
| Date | May 2019 |
|---|---|
| Company | Cascades Sonoco |
| Details | Cascades Sonoco makes a significant investment in a fresh line of cutting-edge, green food packaging. |
The market is estimated to secure a valuation of USD 10.041 billion in 2023.
The market is forecast to register a CAGR of 5.7% through 2033.
During 2018 to 2022, the market held a CAGR of 3%
User-friendly applications and tech-enabled driver networks raise sales.
The global market size is expected to be worth USD 17.48 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Plastic 5.1.1. Polypropylene (PP) 5.1.2. Polyethylene Terephthalate (PET) 5.1.3. Others 5.2. Paper & Paperboard 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tray Type 6.1. Single Cavity 6.2. Multi Cavity 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food Producers & Processors 7.2. Restaurants & Cafes 7.3. Catering Services 7.4. Food Courts 7.5. Online Food Delivery 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Competition Analysis 15.1. Amcor 15.2. Sonoco Products Company 15.3. Huhtamaki Oyj 15.4. DS Smith Plc 15.5. Mondi Group PLC 15.6. BillerudKorsnas 15.7. Quinn Packaging 15.8. International Paper Company 15.9. Brodrene Hartman A/S 15.10. ESCO Technologies Inc. 15.11. Pactiv LLC 15.12. Novolex 15.13. Tray-Pak Corporation 16. Assumptions & Acronyms Used 17. Research Methodology
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