The reliable Thermoform Trays Market business report displays important product developments and tracks recent acquisitions, mergers and research in the Thermoform Trays Market industry by the major players. The report helps make known uncertainties that may come up due to changes in business activities or introduction of a new product in the market. Moreover, all the stats, data, facts and figures collected to prepare this market report are obtained from the trustworthy sources such as websites, journals, merges, newspapers and other authentic sources. A few of these major factors are market definition, market segmentation, competitive analysis and research methodology.
The high quality Thermoform Trays Market analysis report gives estimations on the market status, growth rate, future trends, market drivers, opportunities, challenges, entry barriers, risks, sales channels, and distributors. Global market research report serves a lot for the business and bestows with the solution for the toughest business problems. This industry analysis report also makes customers or other market participants aware of the problems they may face while operating in this market over a longer period of time. The first class Thermoform Trays Market report estimates that new highs are possible in the Thermoform Trays Market in year 2023-2030.
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Thermoforming is a manufacturing process where an extruded plastic sheet is heated to a point where it is able to stretch. The rising demand for packaged food among the working-class population and the growing e-commerce industry are major factors expected to drive market growth. In addition, the rising trend of sustainable thermoform trays is expected to provide an opportunity for market growth. However, environmental concerns and the production of plastic waste due to the use of thermoform trays are expected to pose a challenge to market growth.
Data Bridge Market Research analyzes that the global thermoform trays market is expected to reach a value of USD 8,912.96 million by 2030, at a CAGR of 4.5% during the forecast period.
Market Definition
Thermoform trays are developed to help farmers to meet increased agricultural demand on a sustainable basis. Thermoform trays boost crop yield and its value, which positively affects farm productivity. Agricultural biostimulant comprises of multiple amalgamations of chemicals, substances, and micro-organisms that are added to the plants or soils to boost crop vigor, production, sensitivity to abiotic pressure, and quality. They support the growth and production of crops throughout the entire crop life cycle, from seed germination to plant maturity, in a variety of demonstrated ways, such as regulating plant metabolism. They are developed for farmers to meet the demand for sustainable agriculture, including quality and improved crop yield, and even for the consumers to meet the demand for organic products so as to cope with health and safety standards. Thus, due to this, investors are increasingly interested in the biostimulant category with respect to the significant growth potential.
Some of the major market players operating in the global thermoform trays market are Amcor plc, Pactiv LLC (A subsidiary of Pactiv Evergreen Inc.), WestRock Company, DS Smith, Sonoco Products Company, Prent Corporation, Huhtamaki, Placon, Nelipak Healthcare Packaging, Lacerta Group LLC, EasyPak, Dordan Manufacturing Company, HLP Klearfold, Engineered Components & Packaging, LLC, and Universal Plastics Group, Inc. among others.
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Global Thermoform Trays Market Scope
The global thermoform trays market is segmented into nine notable segments based on product, barrier material, amount of polymer, material, thermoforming process, shape, usage, distribution channel, and end-use. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- PET Trays
- Standard Trays
- Insert Trays
- Dunnage Trays
- Shelf Display Trays
- Drip Trays
- Others
On the basis of product, the market is segmented into PET trays, clamshells, oxygen ingress barrier trays, standard trays, shelf display trays, insert trays, dunnage trays, drip trays, and others.
Barrier Material
- EVOH (Ethylene Vinyl Alcohol)
- PVDC (Polyvinylidene Chloride)
- Aluminum Foil
- Metallized Films
- Acrylic Coatings
- Silicon Oxide Coatings
- Others
On the basis of barrier material, the market is segmented into PVDC (Polyvinylidene Chloride), metallized films, aluminium foil, EVOH (Ethylene Vinyl Alcohol), acrylic coatings, silicon oxide coatings, and others.
Amount of Polymer
- 10-50 Grams
- 50-100 Grams
- 100-150 Grams
- Above 150 Grams
On the basis of amount of polymer, the market is segmented into 50-100 grams, 10-50 grams, 100-150 grams, and above 150 grams.
Material
- Plastic
- Paper & Paperboard
- Others
On the basis of material, the market is segmented into plastic, paper & paperboard, and others.
Thermoforming Process
- Vacuum Forming
- Pressure Forming
- Twin Sheet Forming
On the basis of thermoforming process, the market is segmented into vacuum forming, pressure forming, and twin sheet forming.
Shape
- Round
- Rectangular
- Others
On the basis of shape, the market is segmented into rectangular, round, and others.
Usage
- Disposable
- Non-Disposable
On the basis of usage, the market is segmented into disposable and non-disposable.
Distribution Channel
- B2B
- B2C
On the basis of distribution channel, the market is segmented into B2B and B2C.
End-Use
- Food
- Personal Care
- Healthcare
- Electronics
- Hotels, Restaurants & Cafes
- Home Care
- Others
On the basis of end-use, the market is segmented into food, healthcare, electronics, personal care, hotels, restaurants & cafes, home care, and others.
Drivers
- Growing E-Commerce Industry
Thermoform packaging products involve several plastic packaging products used in industries for finished packaging goods. They have high strength and are available in different shapes and sizes, increasing their demand in the market. They are easily sealable, which prevents damage to items in trays that are made from thermoform material, giving protection to finished goods in transit.
In the e-commerce industry, high-quality packaging is essential so that the goods should reach the customers' hands without any distortion in their quality. E-commerce and courier service have also increased with the increase in online shopping apps, medical stores, and online retail stores, leading to increased use of different types of thermoform packaging products for pharmaceutical and personal care electronic items. In addition, several electronic stores have shifted to the digital platform, due to which the packaging in consumer electronics has increased. Several manufacturers of packaging products analyze the demand for finished goods on digital media and produce accordingly. Moreover, the increasing trend of online food delivery sites is expected to boost market growth.
For instance,
- In June 2019, according to Forbes, the online food delivery market was estimated to reach USD 34.31 billion in 2017, and by 2030 it is estimated that the market will reach USD 90.95 billion due to rapid urbanization and fast-paced lifestyle
Therefore, increasing e-commerce services and growth in the e-commerce industry will increase the demand for thermoform trays in several sectors, which is expected to drive market growth.
- Increasing Demand for Packaged Food among Working Class Population
The rising demand for packaged food among the working-class population is a significant factor expected to drive market growth. Thermoform trays have become an essential part of food product packaging. Convenient and time-saving meal options are becoming more and more necessary as more people lead busy lives. Packaged food offers a practical alternative by providing ready-to-eat or easy-to-prepare meals that need minimal effort and time. Thermoform trays are critical in preserving the safety, freshness, and mobility of these packaged foods.
Thermoform trays are highly secured packaging products as lids do not distort goods during transit. In addition, the covers are tightly sealed, which does not allow any material to pass into food products, which ensures food products' safety. In the food and packaging industry, the use of thermoform trays is increasing as it helps to increase the shelf life of the products and is also used for storage.
Furthermore, thermoform trays offer convenience in terms of handling and consumption. They are lightweight and easy to transport, making them ideal for busy people. The trays can be easily opened, reheated, and discarded after use, making meals easier for consumers.
For instance,
- In August 2018, according to SouthPack Packaging article, thermoform packaging is a strong, resilient, and tamper-resistant packaging alternative. This provides protection not just during shipping and transportation but also a variety of sealing solutions that can help to extend the shelf life of the goods
Thus, the increasing demand for packaged food in the food and beverage industry will increase the demand for thermoform trays, which is expected to drive market growth.
Core Objective of Thermoform Trays Market:
Every firm in the Thermoform Trays Market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
- Global Thermoform Trays Market Size and growth rate factors.
- Important changes in the future Thermoform Trays Market.
- Top worldwide competitors of the Market.
- Scope and product outlook of Thermoform Trays Market.
- Developing regions with potential growth in the future.
- Tough Challenges and risk faced in Market.
- Global Polyurethane Foam top manufacturers profile and sales statistics.
Complete Report Details with Facts and Figures along respective Images and Graphs (TOC) https://www.databridgemarketresearch.com/toc/?dbmr=global-thermoform-trays-market
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