The market for food trays was worth US$ 1.0 billion in 2021 and is projected to grow to US$ 1.7 billion by the year 2032, with a CAGR of 4.6% from 2022 to 2032.
The Food Trays Market is a rapidly growing sector that caters to the increasing demand for convenient and hygienic food packaging solutions. Food trays are widely used in various foodservice establishments, such as restaurants, cafes, fast-food chains, and institutional catering, to serve and transport food items. With the rising popularity of takeaway and delivery services, the demand for food trays has witnessed a significant surge.
Food trays have come a long way from being simple containers for meals. They have evolved into innovative and multifunctional solutions that cater to the diverse needs of the food service industry. Initially, food trays were primarily used in cafeterias, hospitals, and schools, offering a practical way to serve and transport meals. However, with the rise of fast-food chains and the growing popularity of takeout and delivery services, the demand for food trays expanded exponentially.
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Food Tray Market Landscape
Some of the leading players included in the food trays market are players like
- Amcor PLC,
- Sonoco Products Company,
- Huhtamaki Oyj,
- DS Smith Plc,
- Mondi Group PLC,
- International Paper Co,
- Brodrene Hartmann A/S,
- ESCO Technologies Inc.,
- UFP Technologies, Inc.,
- Pactiv LLC,
- Tray-Pak Corporation,
- Novolex,
- BillerudKorsnas,
- D&W Fine Pack LLC,
- Henry Molded Products, Inc.,
- OrCon Industries Corporation,
- Fibercel Packaging Llc.,
- Faerch A/S,
- Silver Plastics GmbH & Co. KG and
- Quinn Packaging.
During the prolonged period of lockdown in 2020–2021, an increase in internet food delivery helped the market survive. FMI anticipates a recovery in sales as restaurants and cafes resume operations around the world free of COVID-19-related limitations.
The Growing Demand for Food Trays
The food trays market has experienced significant growth due to several key factors. Let’s take a closer look at the reasons behind the increasing demand for food trays:
1. Rise in Food Delivery Services
The advent of food delivery platforms and apps has revolutionized the way people order food. With the increasing popularity of home delivery and takeout, the demand for food trays has surged. Food trays provide a secure and convenient packaging solution for meals, ensuring that the food reaches customers in optimal condition.
2. Expansion of the Quick-Service Restaurant Sector
The quick-service restaurant (QSR) sector, encompassing fast-food chains, cafes, and casual dining establishments, has witnessed remarkable growth globally. These establishments rely on efficient and standardized food service, where food trays play a crucial role. The need for quick, hassle-free meal presentation has contributed to the rising demand for food trays.
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Food Trays Market: Global Trends and Regional Variations
The Food Trays Market is a global phenomenon, with significant regional variations in consumer preferences and market dynamics. In North America, the demand for food trays is primarily driven by the fast-food industry and the rising trend of home delivery. In Europe, the focus on sustainability has propelled the adoption of eco-friendly food trays, while the Asia Pacific region has witnessed substantial growth due to the expanding food delivery market. Understanding these regional trends is crucial for businesses operating in the food trays industry to capitalize on market opportunities effectively.
Food Trays Market By Category
By Material Type, Food Trays Market is Segmented as:
- Plastic
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Others (HIPS, HDPE, etc.)
- Paper & Paperboard
By Tray Type, Food Trays Market is Segmented as:
- Single Cavity
- Multi Cavity
By End Use, Food Trays Market is Segmented as:
- Food Producers & Processors
- Restaurants & Cafes
- Catering Services
- Food Courts
- Online Food Delivery
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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