The report is titled ‘Plastic Trays Market: Opportunity Analysis and Future Assessment 2021-2028’. An overview of conceptual frameworks, analytical approaches of the plastic trays market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Plastic trays market is expected to grow with significant rate in the near future.
The global plastic trays market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of 3.3%.
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Plastic Trays Introduction
Plastic trays are used to store various products and keep them clean. Plastic trays also serve its utility in the packaging of several different products such as agriculture, food, pharmaceutical, electronic accessories, and automotive, and many more.
Plastic trays are customizable, and therefore are available in several different sizes and shapes according to the purpose they serve. Plastic trays consist of numerous advantages such as durable, lightweight, rigid, water and chemical resistant, recyclable and washable, which makes it more preferable over paperboard trays or the regular trays. Owing to this, the plastic trays witness huge demand in various industries, thus propelling the growth of the global plastic trays market.
Along with that, the plastic trays are 100% reusable and recyclable, which makes it more environment-friendly, and therefore, adopted by most of the industries across the world.
Plastic Trays Market Dynamics
The plastic trays are altogether a cost-effective and a lot better alternative in comparison to other alternatives owing to their numerous beneficial features, which stimulates its demand tremendously in the global market. Attributing to which, the plastic trays market is projected to grow significantly in the near future.
Along with that, the key manufacturing companies of the global market are aiming their focus on creating more innovative and advanced products as well as developing more cost-effective products, thereby expected to propel the growth of the global plastic trays market in the forthcoming years.
In addition to that, much conventional aluminum, paperboard, and Styrofoam material trays are less preferred by various industries across the world as it is complicated to dispose of or recycle the regular trays, thereby compelling them to switch to plastic trays which is reusable and recyclable and thus, environmentally safe. Owing to this, the plastic trays market is estimated to observe a breakthrough during the forecast period.
Furthermore, the rising trend of plastic packaging in various industries, specifically the healthcare and medical industry that is intended to protect the product from the external environment is also expected to give a positive boost to the growth of the plastic trays market in the coming years.
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Plastic Trays Market Segmentation
The plastic trays market is segmented on the basis of product type, end user, and by region.
On the basis of product type, the plastic trays market is segmented into
- Shipping Trays
- ESD Trays
- Plastic Bins & Insert Trays
- Large Plastic Trays
- Hinged Plastic Boxes
While on the basis of end-user the market can be segmented into
- Hospitals
- Clinics
- Academics
- Outpatient Centres
On the basis of Region, the plastic trays market is segmented into
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, Italy, France, Spain, Russia, Poland, BENELUX, NORDIC)
- Asia Pacific (China, India, Japan, Australia and New Zealand, South Korea, ASEAN, Rest of Asia)
- Middle East (GCC Countries, Israel, Oman, Rest of Middle East)
- Africa (South Africa, Egypt, North Africa, Rest of Africa)
Plastic Trays Market Key Players
Some of the key participating players in the Plastic Trays market are Tetra Pak International S.A., The Dow Chemical Company, Mondi Plc, International Paper, and Smurfit Kappa.
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