North America Dominates Rigid Trays Market with Strong Growth Prospects, Appraised At US$ 85,986.3 Million By 2032 Globally

During the forecast period, the global rigid trays market is expected to see significant growth, with an anticipated valuation of US$ 85,986.3 million by 2032, marking a notable increase from the US$ 58,650.8 million recorded in 2022. This growth trajectory is underpinned by a compound annual growth rate (CAGR) of 3.9%.

The North America rigid trays market is performing impressively, with a projection to dominate market share during the forecast period. Currently, the North American regions collectively account for a substantial 21% share of the total rigid trays market. This dominance is fueled by several key factors, including a high population, urbanization, and the expansion of industries such as food, pharmaceuticals, and electrical. End-users in the region are increasingly preferring rigid trays as a packaging solution, driving the market’s growth and increasing its size.

In Europe, the growth outlook for the rigid trays market is promising. Currently, the region holds a 16% share of the total market. The European market is poised to expand further, as government investments and grants support research and development activities aimed at advancing packaging solutions for rigid trays. The rapid growth of the food industry in Europe, along with a growing population, also contributes to the market’s positive trajectory. These factors collectively indicate a bright outlook for the rigid trays market in Europe.

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Recent Developments in the Rigid Trays Market

• In May 2019, Klöckner Pentaplast partnered with the German Plastic Packaging Industry Association (IK) to start a pilot project for the recycling of PET food plastic trays. The pilot project is aimed at creating a closed-loop recycling process, especially for recycling rigid plastic trays used for food packaging and utilizing recycled plastic for new product manufacturing.
• ALPLA Group continued to pursue its plan of increasing its recycling activities globally in September 2020. The family-owned Austrian company is now constructing an HDPE recycling factory in Mexico. Each year, it intends to create 15,000 tonnes of post-consumer recycled material.

The Major Key Players Are-

• ALPLA-Werke Alwin Lehner GmbH & Co KG
• Amcor Limited
• DS Smith Plc
• Berry Plastics Corporation
• Klöckner Pentaplas
• Plastipak Holdings, Inc.
• Pactiv Evergreen Inc.
• Sealed Air Corporation.
• Silgan Holdings, Inc.
• Sonoco Products Company

Demand Drivers for the Rigid Trays Market

1. Food Packaging: The food industry relies on rigid trays for the packaging of fresh produce, meats, and ready-to-eat meals. The demand for convenient and attractive packaging, along with the need for extended shelf life, fuels the adoption of rigid trays.
2. Pharmaceutical and Healthcare: Rigid trays are crucial in the pharmaceutical sector for the safe and sterile packaging of medical devices, vials, syringes, and other healthcare products. The growing pharmaceutical industry and stringent regulations on product safety and hygiene drive demand.
3. Electronics and Electricals: The electronics industry uses rigid trays for the protection and display of components and devices. As consumer electronics continue to evolve, the need for efficient and protective packaging solutions increases.
4. Urbanization and Convenience: Urbanization and changing lifestyles lead to higher demand for convenience foods and retail-ready packaging. Rigid trays offer durability, easy handling, and product visibility, making them ideal for these applications.
5. Sustainability: Increasing environmental awareness and regulatory pressures have shifted the focus toward sustainable packaging. Rigid trays, particularly those made from recyclable or biodegradable materials, align with these sustainability goals.
6. Customization and Branding: Rigid trays can be customized with branding, labels, and designs, enhancing product presentation and consumer appeal. This customization option is important for marketing and brand recognition.

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Key Market Segments in the Rigid Trays Market

By Product Type:

• Plastic rigid trays
• Metal rigid trays

By Size:

• D1 Range
• D2 Range
• D13 Range
• D18 Range
• D15 Range
• Others

By Material Used:

• PP
• PET
• rPET
• HDPE
• HIPS
• PVC
• LDPE
• ABS
• Others

By End-Use Industry:

• Pharmaceutical Industry
• Food & Beverage Industry
• Electrical and Electronics Industry
• Consumer Goods Industry
• Health Care Industry
• Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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