24-Feb-2021 | Zion Market Research
As per researchers at Zion Market Research, the global thermoformed shallow trays market is anticipated to attain USD 6.10 billion by 2025, augmenting at a CAGR of over 5.9% during the forecast period 2019–2025. Thermoformed trays are shallow thermoformed containers that are utilized for packaging purposes like organizing, carrying, shipping, display, and storage of consumer plus industrial goods. The thermoformed shallow trays are produced by utilizing plastic and paper-based laminates by the thermoforming method in which a paper or plastic-based laminate sheet of a particular size is fixed in place, heated at a softening temperature, and strained against mold with the aid of vacuum or air pressure or mechanical means. These shallow trays are widely utilized in applications including cosmetic & personal care, food, pharmaceutical, industrial goods, and electronics.
Some of the major companies in the market are Bemis Company, Inc., Huhtamaki Oyj, Display Pack, Inc., D&W Fine Pack LLC, Pactiv LLC, Anchor Packaging, Inc., Tray-Pak Corporation, Sonoco Products Company, and Placon Corporation.
Surging Use Of Thermoformed Shallow Trays In Various Industries Is Boosting The Global Market
The increasing adoption of thermoformed packaging, augmenting the range of applications in the pharmaceutical industry, elevated use of thermoformed shallow trays in the bakery applications and enhanced inclination of manufacturers toward non-petroleum-based polymers are the key aspects that are expected to fuel the market growth. Nevertheless, the limited scope for using the thermoformed shallow trays for liquid packaging is limiting the market.
The global thermoformed shallow trays market is bifurcated on the basis of material type, application, and regional analysis. Based on the material type, the market is divided into plastic and paper-based laminates. The plastic segment is subdivided into PVC (polyvinyl chloride), PET (polyethylene terephthalate), PE (polyethylene), PP (polypropylene), PS (polystyrene), and others. Based on the application, the market is divided into food, cosmetics & personal care, pharmaceuticals, electronics, and industrial goods. The food segment is subdivided into bakery products, meat, poultry & seafood, snacks, dairy products, food services, and others.
North America Projected To Dominate The Global Thermoformed Shallow Trays Market
Based on geographical analysis, the global thermoformed shallow trays market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region is currently the leading contributor in terms of revenue in the global market and is estimated to retain dominance during the forecasted period. The market will mainly benefit from the robust manufacturing aptitudes of thin gauge thermoformers across the region. The region is projected to witness growth at a 5.8% CAGR over the estimated period.
Browse the full “Thermoformed Shallow Trays Market - By Material Type (Plastic And Paper Based Laminates), By Application (Food, Cosmetics & Personal Care, Pharmaceuticals, Electronics, And Industrial Goods), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/thermoformed-shallow-trays-market
The global thermoformed shallow trays market is segmented as follows:
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