The market size of paperboard tray is estimated to be worth USD 5075.0 million in 2025 and is anticipated to reach a value of USD 7731.8 million by 2035. Sales are projected to rise at a CAGR of 4.3% over the forecast period between 2025 and 2035. The revenue generated by paperboard tray in 2024 was USD 4637.5 million.
Paperboard tray has very high usage in the food industry. Food will capture over 24.4% of the paperboard tray market by 2035. It maintains beverage quality, taste, freshness, and carbonation. Additionally, it is environmentally sustainable, thus seeking the attention of eco-conscious customers.
Paperboard Tray Industry Forecast
| Attributes | Key Insights |
|---|---|
| Historical Size, 2024 | USD 4637.5 million |
| Estimated Size, 2025 | USD 5075.0 million |
| Projected Size, 2035 | USD 7731.8 million |
| Value-based CAGR (2025 to 2035) | 4.3% |
In the capacity segment, paperboard tray solutions with a capacity of 8-20 Oz are likely to account for over 21% of the market share over the forecast period. The most widely used in the paperboard tray market, the capacity range 8-20 Oz can be utilized for an array of products, from beverages to sauces, etc.
This particular capacity suits serving one portion for meals, snacks, or drinks, and that is one of the biggest manufacturers' market targets within quick-service restaurants, catering services, and food delivery businesses. It balances optimal size, cost-effectiveness, and consumer demand.
The paperboard tray market will grow with profitable prospects in the forecast period, as it is expected to offer an incremental opportunity of USD 3094.3 million and will increase 1.6 times the existing value by 2035.
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The below table presents the expected CAGR for the global market of paperboard tray over several semi-annual periods spanning from 2025 to 2035.
| Particular | Value CAGR |
|---|---|
| H1 | 4.2% (2024 to 2034) |
| H2 | 4.4% (2024 to 2034) |
| H1 | 4.0% (2025 to 2035) |
| H2 | 4.6% (2025 to 2035) |
In the first half (H1) of the decade from 2024 to 2033, the business is predicted to surge at a CAGR of 4.2%, followed by a slightly higher growth rate of 4.4% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2025 to H2 2035, the CAGR is projected to decrease slightly to 4.0% in the first half and remain relatively moderate at 4.6% in the second half. In the first half (H1) the market witnessed a decrease of 20 BPS while in the second half (H2), the market witnessed an increase of 20 BPS.
Sustainability Propel Boost the Demand for Paperboard Tray
Sustainable and environmental materials are getting popular among packaging solution manufacturers; therefore, the use of paperboard trays is increasing. Paperboard is degradable and recyclable. They can decompose naturally within the local environment.
Moreover, as a result of becoming more conscious of environmental issues, consumers are also preferring items that come with sustainable packaging. Paperboard trays have made it possible for companies to lower carbon emission, thus appealing to eco-centric customers. Therefore, sustainability drives paperboard trays down with popularity among manufacturers looking toward a greener future in packaging solutions.
Advanced Coating Technology Push the Market Growth
Advanced coating technology with the functionality improvement of a cardboard tray. It makes protective layers for increasing durability and resistance to moisture, grease, and other environmental factors.
Thus, coated cardboard trays are well suited for a broader scope of products, including food items, without affecting their integrity. Also, this coating makes it safe when carrying the product as the coatings maintain the appearance of the tray without affecting the branding and labelling-clear.
Alternative Packaging May Restrict Paperboard Trays Adoption
Paperboard trays are very good and flexible, but not for everything. Paperboard's absorbent property implies that, when it comes into contact with liquid, it becomes less effective Hence this tray would not be a standard material to contain liquid products. Also, perishable food items like dairy products and fresh meat products require some type of protective seal. Hence their use is not appropriate for perishable products.
Furthermore, heavy and sharp products are not supported in such types of trays. These all factors result in a more commonly preferred alternative packaging for the manufacturers like plastic trays, vacuum-sealed bags, or specialized containers so that they serve the necessary safeguarding and functionality concerning specific products.
The global paperboard tray market recorded a CAGR of 3.2% during the historical period between 2020 and 2024. Market growth of paperboard tray was positive as it reached a value of USD 4637.5 million in 2024 from USD 3961.7 million in 2020.
The market of paperboard tray was witnessing steady growth between 2020 and 2024 due to the continuously increasing consumer demand for sustainable packaging.
Sustainability attributes such as recyclable content, and premium look, especially within the food, beverage, and cosmetics markets, helped the sale of paperboard tray better. A spurring environmental concern and the imperative need to reduce plastic waste also enhanced the adoption of trays.
In the assessment period, global demand for paperboard tray is expected to grow strongly. The drivers for this are mainly sustainability regulations, advanced coating technology, rise of online shopping and growth of food industries.
Tier 1 companies comprise market leaders with significant market share in global market. These market leaders are characterized by high production capacity and a wide product portfolio. These market leaders are distinguished by their extensive expertise in manufacturing across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base.
They provide a wide range of series including recycling and manufacturing utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within tier 1 include Amcor plc, Sonoco Products Company, Huhtamaki Oyj, DS Smith Plc, International Paper Company.
Tier 2 companies include mid-size players having presence in specific regions and highly influencing the local market. These are characterized by a strong presence overseas and strong market knowledge.
These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Brodrene Hartmann A/S, Billerud AB, Stora Enso Oyj, Mondi Group Plc, Graphic Packaging International, LLC, Novolex Holdings.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below covers the future forecast for the paperboard tray market in terms of countries. Information on key countries in several parts of the globe, including North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe and MEA is provided.
Canada is anticipated to remain at the forefront in North America, with a CAGR of 3.7% through 2035. In Europe, Spain is projected to witness a CAGR 3.4% by 2035.
| Countries | Value CAGR (2025 to 2035) |
|---|---|
| USA | 4.0% |
| Germany | 3.9% |
| China | 4.9% |
| UK | 3.5% |
| Spain | 3.4% |
| India | 5.1% |
| Canada | 3.7% |
Paperboard tray creates a huge demand for serving options because they are sustainable, user-friendliness, and low cost. The eco-friendliness and efficiency in operating combined with its light and biodegradable character offers an advantage when applying paperboard tray type for fast preparatory service.
The increase in urbanization and changes in consumer preferences for fast food further strengthen their growth-based upward trend on QSRs in terms of increasing volumes of food in those establishments.
The increased concentration of hygiene and safety in food service has also helped in boosting the admiration for paperboard trays since these trays can be developed to resist moisture and grease, keeping the food fresh and intact.
This synergy between the quick-service restaurant sector and the paperboard tray would certainly not only enrich the dining experience for consumers but also promote the overall trend towards sustainability in the food service industry.
E-commerce development in the country has been rapidly growing, which is now boosting sales from different sectors since more and more people find it very convenient to shop online. With the availability of digital platforms, consumers can easily browse for what they want and order parts immediately instead of visiting the stores.
Additionally, with a busy lifestyle consumers prefer online shopping for an array of products from homecare products to food products. Also after COVID, retailers prefer mobile shopping apps and social media marketing so consumers easily find their needs and make a purchase so overall e-commerce growth boosts the demand for paperboard trays.
The section contains information about the leading segments in the industry. In terms of capacity, 251-750 ml capacity is estimated to account for a share of 43.2% by 2035. By packaging formats, bottles are projected to dominate by holding a share of 73.6% by the end 2035.
| Ovenable | Microwave Trays |
|---|---|
| Market Share (2035) | 58.5% |
As people increasingly go for quick solutions to meals, endless options are made available to heat the food, minus the hassle of using different dishes. Microwave trays withstand great temperatures, which makes them alright to be heated in microwave devices and so are ideal for busy persons and families who want everything to be fast.
Also, the growing availability of ready-to-eat and frozen meals further contributed to the demand for microwaveable trays because they served as convenient packaging, enabling easy cooking and serving. People love even more the idea of cooking and storage within just one tray as it saves them time in cleaning up, while food can be made available in just a few minutes.
| Material Format | Paperboard |
|---|---|
| Market Share (2035) | 46.7% |
Paperboard is one of the preferred materials for many manufacturers of trays because of its versatility. It is also lightweight, and very easy for handling and transporting purposes.
Moreover, paperboard can easily be impressively printed on, thus enabling manufacturers to quickly form stunning designs and branding that easily catch consumers' eyes. this versatility is beneficial. It's strong, sustainable, and versatile in design; these attributes make a paperboard tray so popular among tray manufacturers.
Key players of paperboard tray industry are developing and launching new products in the market. They are integrating with different firms and extending their geographical presence. Few of them are also collaborating and partnering with local brands and start-up companies for new product development.
Key Developments in Paperboard Tray Market
In terms of material, the market of paperboard tray is divided into kraft paper, paperboard, molded fiber.
In terms of product, the market of paperboard tray is segmented into with cavity and without cavity.
The market of paperboard tray includes two packaging formats namely microwavable trays and conventional trays.
In terms of capacity, the market of paperboard tray is segmented into up to 8 Oz, 8 Oz to 20 Oz, 20 Oz to 30 Oz, above 30 Oz.
Some of end users in the market of paperboard tray include food and beverages packaging, cosmetics & personal care product packaging, and pharmaceuticals packaging, homecare packaging, electrical and electronics product packaging and other.
Key countries of North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, Middle East and Africa are covered.
The paperboard tray industry is projected to witness CAGR of 4.3% between 2025 and 2035.
The global paperboard tray industry stood at USD 4637.5 million in 2024.
Global paperboard tray industry is anticipated to reach USD 7731.8 million by 2035 end.
South Asia & Pacific is set to record a CAGR of 5.1% in assessment period.
The key players operating in the paperboard tray industry are Amcor plc, Sonoco Products Company, Huhtamaki Oyj, DS Smith Plc, International Paper Company.
| Estimated Market Size (2024E) | USD 5.5 billion |
|---|---|
| Projected Market Value (2034F) | USD 7.6 billion |
| Value-based CAGR (2024 to 2034) | 3.4% |
| Current Valuation in 2024 | USD 2.8 billion |
|---|---|
| Forecasted Valuation in 2034 | USD 4 billion |
| Value CAGR (2024 to 2034) | 3.7% |
| Market Size - 2023 | USD 10.041 billion |
|---|---|
| Market Size - 2033 | USD 17.48 billion |
| Market CAGR (2023 to 2033) | 5.7% |
| Market Value (2023) | USD 7.5 Billion |
|---|---|
| Market Value (2033) | USD 11.2 Billion |
| Market CAGR (2023 to 2033) | 4.1% |
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Paperboard Tray Market
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