The
drive for paper and paperboard trays stems from the growing need for
an environmental-friendly and flexible packaging for packing food and
beverages and fast-moving consumer goods. The rising demand for
semi-rigid structures for a cost-effective and versatile packaging
applications in diverse industries such as consumer durables,
electronics, personal care & cosmetics, and homecare products, is
propelling the demand for these containers. In various parts of the
world, recycled paperboard packaging solutions made from sustainable
materials have gained traction for packing disposable foodservice
products. This has bolstered the adoption of paper and paperboard
trays in recent years. The substantial benefits of on-the-go
convenience of these packaging applications in the food service
segment has boosted the demand for various paperboard trays,
including corrugated boxes. Advancements in molding and printing
technologies has enabled manufacturers in various developed and
developing regions to develop paper and paperboard trays that allow
retail players achieve competitive branding.
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The
global paper and paperboard trays market is projected to rise from a
valuation of US$4,444.3 Mn in 2017 to reach a worth of US$5,893.9 Mn
by the end of 2022. The market is predicted to clock a CAGR of 5.8%
during the forecast period of 2017–2022.
An
in-depth insight into the key factors impacting the growth trajectory
of the global paper and paperboard trays market is offered below:
The
rising worldwide demand for sustainable and flexible packaging
applications in various industries, notably in the food and beverages
industry, is a key factor driving the global paper and paperboard
trays market. The rising demand for cost-effective paperboard
packaging for food and beverages is a vital factor stoking the demand
for paper and paperboard trays. A wide array of benefits offered by
these containers to end-use industries, such as retail
differentiation, thermal stability, and moisture benefits, is
boosting the uptake in various regions.
Stricter
implementation of global food safety standards in several developed
countries has led to a wider adoption of paper and paperboard trays
for disposable foodservice packaging applications.
A
number of supply chain concerns and cost constraints faced by players
in the paper and paperboard packaging is a critical factor likely to
negatively influence the growth of the market to an extent. On the
other hand, several manufacturers are investing in new materials and
better water technologies to address these concerns.
The
advent of customizable trays for premium quality food grade packaging
is a crucial trend expected to open exciting avenues during the
forecast period. In addition, the striking flexibility of vast
graphics printability possible with corrugated boxes helps in upping
the brand appeal, thereby bolstering their demand.
Regionally,
Asia Pacific excluding Japan (APEJ) holds the dominant revenue shares
of the global market and is expected to retain its lead throughout
the forecast period. The APEJ paper
and paperboard trays market is predicted to create an
absolute opportunity estimated US$607 Mn during 2017–2022. The
dominance of the regional market can be attributed primarily to the
substantial demand for cost-effective and sustainable packaging,
especially for food grade applications. Of all the material types in
making paper and paperboard trays, corrugated board is the leading
segment and is projected to witness dominant growth, in absolute
terms, over the assessment period. The segment is estimated to be
worth US$3,344.1 Mn by the end of 2022.
Competitive
Dynamics
A
number of emerging and prominent players are offering
high-performance paperboard packaging solutions with superior
benefits and properties for a diverse end-use industries, in order to
gain a competitive edge over others. Some of the leading players
operating in the paper and paperboard trays market are International
Paper Co., Huhtamaki Oyj, Mondi Group plc., ESCO Technologies Inc.,
Brodrene Hartmann A/S, UFP Technologies, Inc., Henry Molded Products,
Inc., Pactiv LLC, OrCon Industries Corporation, and Fibercel
Packaging LLC.
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