Published on : Feb 23, 2016
Foam trays refer to disposable trays on containers that are used to pack food products and other purposes. Foam trays find several applications such as meat packaging, small tools packaging, test tube packaging, food service, and others. The easy and convenient use and low cost of foam trays are the major factors that have boosted the growth of the global foam trays market.
The major types of foam trays include polystyrene, polyethylene, polyester, polypropylene, and others. Among all these types, the polystyrene segment has dominated the overall market in the recent years, owing to the high demand for polystyrene foam trays across the globe. In addition, the increasing penetration of take away food services and overall food services in developing countries such as China, Indonesia, and India are the major factors that are expected to boost the demand for polystyrene foam trays in the next few years.
Foam trays finds applications in several industries such as:
Among all these applications, in recent years, the food packaging segment accounted for the highest share of the overall foam trays market. The high growth of this segment can be attributed to the growing application of foam trays in the different segments of food packaging. In addition, the expansion of multi-national food chains in the developing economies is projected to boost the demand for foam trays in the next few years across the globe.
Some of the major players operating in the global foam trays market are Ecopax, LLC, D&W Fine Pack, LLC, Berry Plastics Group, Inc., Placon Corporation, Inc., Genpak LLC, Dart Container Corporation, Groupe Guillin SA, Sirap Group, Coveris Holding, S.A., Sealed Air Corporation., Anchor Packaging, Inc., and Pactiv, LLC. The growing profit margins in the global foam trays market have encouraged many other players to participate in this market. Thus, in the next few years, new entrants are expected to enter the market and create a niche for themselves along with gaining the competitive advantage.