Plastic ready-to-eat trays are high-quality trays that possess strength, elegance, consistency, durability, and eco-friendly properties. These lightweights and recyclable ready–to–eat plastic trays are mainly used in the food and foodservice sector for packaging during storage and transit of a wide range of food products. Demand for ready-to-eat food products is seeing a high increase in metros, where a lot of working people do not have enough time to cook their meals properly. Ready-to-eat trays are frequently used in foodservice and catering (including airline catering) industries. Changing dietary habits also contributed to a greater tolerance of ready–to–eat products, guided by the growing demand for convenience food. Growing competition for versatile packaging alternatives for differentiating consumer items on the grounds of characteristics such as kosher, medical, herbal, and seasonal goods is also apparent in the global sector for ready-to-carry consumer trays. Moreover, fully recyclable ready–to–eat trays are becoming increasingly common across various industries. Increasing the productivity of the supply chain, that the risk of damage, and improving health are some of the factors boosting demand for ready-to-eat trays. The food industry is moving rapidly towards the adoption of fully recyclable ready–to–eat trays. The European Union has also recently announced its new policy agenda with the aim of making all plastic packaging on the EU market reusable and recyclable by 2030. Manufacturers in the plastic tray industry are producing fully recyclable ready-to-eat trays instead of Omni-recyclable ready–to–eat trays. However, the continuing competition from both the government and customers has raised the need for cost-effective, plastic-free food packaging. Plant and fiber-based ready–to–eat trays are also expected to achieve significant popularity. Apart from the reality that major corporations are slowly transitioning from plastic to other substitutes, several start-ups have joined the category, which is associated with non-plastic packaging. However, various plastic-ready meal trays are not recyclable with causes environmental concerns which could further hamper the market growth. For instance, According to Recoup’s figures, around 525,000 tonnes of plastic pots, tubs and trays are used by households in the UK every year, but only 169,000 tonnes of this waste is collected for recycling.
Global Plastic Ready Meal Trays Market has valued approximately USD 488.48 million in 2020 and is anticipated to grow with a healthy growth rate of more than 4.60 % over the forecast period 2021-2027 is estimated to reach 669.22 million by 2027.
The regional analysis of the global Plastic Ready Meal Trays Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America accounts for the major market share in the industry due to the increasing change from plastic bottles to Plastic Ready Meal Trays in the healthcare market, along with the increasing need for processed food items in the region.
Major market players included in this report are Quinn Packaging, Genpak LLC, Faerch, Sealed Air Corporation, Sonoco Products, Sabert Corporation, Bemis (Amcor), Portage Plastics Corporation, MCP Performance Plastic Ltd, Silver Plastics, CiMa-Pak, Huhtamaki, Versatile Packaging, and CMActive
The detailed segments and sub-segment of the market are explained below:
By Material: Polypropylene (PP), Polyethylene Terephthalate (PET), Others
By Moulding Technology: Injection Moulding, Thermoformed Moulding
By Tray Type: Single Cavity, Multi Cavity
By End-Use: Food Producers & Processors, Restaurants, Catering Services, Food Courts (In malls, Airports, Multiplexes, Railways, etc.), Online Food Delivery
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