North America Tops the Global Paper Trays Market Accounting For 23.1% of Global Market Share In 2022

The market for paper trays is expected to reach USD 8,900 Million by 2032, growing at a CAGR of 5.4% from 2022 to 2032. The market is expected to reach USD 5,300 Million in 2022.

 

In 2022, the market for paper trays will represent 2% of the overall market for paper goods. During the assessment period of 2022–2032, the global paper trays market is anticipated to have an absolute $ opportunity of USD 3,600 Million.

 

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The According to Fact.MR study, the market for paper trays generates more than 40% of its revenue from industrial uses of paper trays in food and beverage products. The Reality Leading retail chains and foodservice brands' resolve to phase out plastic in food packaging, as well as the industry's growing demand for environmentally friendly paper trays, are all factors that the MR study continues to be bullish on. The report also discusses the growing demand for paper trays in the consumer electronics industry, which is probably going to remain an understudied end-user industrial segment in the paper trays market.

 

Increased Demand for Frozen Food Products Driving Market Innovation for Paper Trays

To combat the rising popularity of frozen food products among younger consumers, the majority of paper tray manufacturers have started to produce paper trays that are both freezer- and microwave-safe. To introduce distinctive features of paper trays suitable for food and beverage products, market players are integrating cutting-edge technologies, such as modified atmosphere packaging technology, and manufacturing processes, such as thermoforming.

 

Although the food and beverage sector dominates the market for paper trays, there are other industrial uses for paper trays. The market for paper trays is expanding significantly thanks to a number of end-user industries, including healthcare, personal care & cosmetics, and consumer electronics & durables. Leading paper tray producers are focusing on enhancing their product portfolio for this market because they are aware of the growing demand for paper trays in the consumer durables and electronics sector, according to a lead analyst at Fact.MR.

 

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Report Attributes	Details
Base Year Value (2021A)	USD 5,100 Million
Estimated Year Value (2022E)	USD 5,300 Million
Projected Year Value (2032F)	USD 8,900 Million
CAGR Value (2022-2032)	5.4%
North America Market Share in 2021	~23%
Collective Value Share (US, UK, Germany) 2022: Top 3 Countries	~30%
Top 5 Companies Market Share	~15%

 

Competitive Landscape: Leading Paper Tray Companies

 

Due to the presence of numerous domestic and regional competitors, the global paper tray market is highly fragmented and competitive. Key players use a variety of marketing tactics, including mergers and acquisitions, expansions, collaborations, and partnerships.

 

Additionally, the top businesses use new product development as a strategic approach to enhance their market presence among consumers. Modern paper trays products have been incorporated as a result of these strategies.

 

Key Companies Profiled

·         Mondi Group plc

·         Huhtamaki Oyj

·         International Paper

·         BillerudKorsnas

·         UFP Technologies, Inc.

·         CS Packaging, Inc.

·         Stora Enso

·         Novolex

·         Orcon Industries

·         Athena Superpack Private Limited

·         Henry Molded Products, Inc.

 

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Global Paper Trays Market by Category

• By Source :
• Virgin Fiber Paper Trays
• Recycled Fiber Paper Trays

 

• By Material Type :
• Corrugated Boards
• Boxboards/Cartons
• Molded Pulp

 

• By End-Use :
• Retail Industry
• Food & Beverage Industry
• Personal Care & Cosmetics Industry
• Healthcare Industry
• Consumer Durables and Electronics Industry

 

• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

* This article was originally published here