Thermoformed Shallow Trays Market
Thermoformed Shallow Trays Market Forecasts to 2030 - Global Analysis By Material Type (Plastic, Paperboard, Aluminum, Biodegradable Materials, and Other Material Types), Forming Type, Tray Type, Shape, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2024) |
US $6028.23 MN |
|
Projected Year Value (2030) |
US $8648.42 MN |
|
CAGR (2024- 2030) |
6.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Thermoformed Shallow Trays Market is accounted for $6028.23 million in 2024 and is expected to reach $8648.42 million by 2030 growing at a CAGR of 6.2% during the forecast period. Thermoformed shallow trays are manufactured by heating a plastic sheet until it becomes flexible and then shaping it in a mould to create lightweight, multipurpose containers. These trays are frequently utilized in a variety of industries, such as electronics, medical applications, and food packaging, and they are distinguished by their low profile. They may be customized in size and shape which makes them appropriate for certain applications like branding and compartmentalization.
According to SouthPack, about 52% of consumers make decisions regarding the purchase based on the eco-friendly nature of the packaging material. According to SouthPack, thermoformed packaging can cost up to 15% less than packaging made from plastic injection molding.
Market Dynamics:
Driver:
Rising demand for convenient packaging
A major factor propelling the thermoformed shallow tray market is the growing customer preference for pre-packaged goods, ready-to-eat meals, and on-the-go lifestyles, which in turn fuels the demand for easy packaging. Thermoformed shallow trays are perfect for foodservice and retail packaging because they are easy to handle, provide product visibility, and allow for portion control. Both manufacturers and consumers find their lightweight and stackable design appealing as it improves storage and transit efficiency. The market is expanding as a result of the growing need for simple packaging options that offer eco-friendly materials, durability, and freshness preservation due to urbanization and busy lives.
Restraint:
Cost-effective production
Manufacturers consider the Thermoformed Shallow Trays Market to be an appealing alternative due to its cost-effective production. Comparing thermoforming to other techniques like injection moulding, the former enables high-volume production at reduced prices. Reduced material waste and shortened production cycles make these efficiency possible, allowing producers to satisfy expanding market demands without sacrificing revenue. The cost-effectiveness of thermoformed shallow trays makes them a popular option in a variety of industries, especially food and pharmaceuticals, as businesses look to streamline operations and cut packaging costs.
Opportunity:
Expansion of the pharmaceutical and electronics sectors
The need for thermoformed shallow trays is being driven by the growth of the electronics and pharmaceutical industries. These trays are used in the pharmaceutical sector to package and store drugs, guaranteeing both product safety and adherence to legal requirements. Thermoformed shallow trays are used in the electronics industry to package components and keep them safe during storage and transit. Manufacturers of thermoformed shallow trays are finding new opportunities as a result of the expansion of these industries, especially in emerging economies.
Threat:
Complex recycling processes
In the thermoformed shallow tray market, complicated recycling procedures present a major obstacle that affects the sustainability of various options for packaging. As many thermoformed trays are composed of coated plastics or mixed materials, recycling them is challenging. Lower recycling rates are also a result of the absence of standardized recycling programs for thermoformed items. The industry is under pressure to create more readily recyclable substitutes and enhance waste management techniques as environmental restrictions get stricter and consumer awareness rises. This might raise production costs and make the supply chain more complex.
Covid-19 Impact
The COVID-19 pandemic had a mixed impact on the thermoformed shallow trays market. As enterprises placed a higher priority on safety and sanitation, there was initially a spike in demand for these trays, especially for packaging need. But the market also has to contend with issues like supply chain interruptions and lower consumer spending during lockdowns. The demand for dependable and sanitary packaging solutions, especially in food and healthcare applications, spurred new growth in the industry as firms started to stabilize.
The plastic segment is expected to be the largest during the forecast period
The plastic segment is estimated to be the largest, due to its affordability, robustness, and adaptability. Flexibility, stiffness, transparency, and resilience to moisture and chemicals are only a few of its many qualities. Plastic trays are widely utilized in a variety of applications, including consumer items, industrial products, and food packaging. Plastic trays have been a popular option in the market due to the availability of a large variety of plastic materials and advancements in thermoforming technology.
The pharmaceuticals segment is expected to have the highest CAGR during the forecast period
The pharmaceuticals segment is anticipated to witness the highest CAGR during the forecast period. Medication safety and adherence to legal requirements are guaranteed by the use of these trays for packing and storage. Trays used in the pharmaceutical business must be able to withstand temperature changes, moisture, and chemicals without compromising the integrity of the product. The market for thermoformed shallow trays for this application is expanding because to the rising demand for pharmaceuticals, especially in emerging markets.
Region with largest share:
Asia Pacific is expected to have the largest market share during the forecast period due to rapid industrialization and urbanization in countries like China and India are significantly increasing the demand for efficient packaging solutions. Additional factors driving market growth include the rise of the food and beverage sector and consumers' increasing inclination for quick and prepared meals. Furthermore, producers are being forced to use eco-friendly materials due to increased consumer awareness of sustainability, which makes thermoformed shallow trays a more appealing packaging option for a variety of industries.
Region with highest CAGR:
North America is projected to witness the highest CAGR over the forecast period, owing to the growth of the food and beverage sector is primarily fuelled by the fact that these trays offer effective, secure, and practical packaging options for a range of goods. Additionally, businesses are being prompted to innovate and implement eco-friendly methods due to the growing customer preference for sustainable packaging materials. Strong manufacturing facilities in the area help produce high-quality trays that satisfy the various demands of sectors like electronics, cosmetics, and pharmaceuticals, which improve market growth possibilities.
Key players in the market
Some of the key players profiled in the Thermoformed Shallow Trays Market include Berry Global, Amcor, Reynolds Consumer Products, Huhtamaki, Sonoco, Sealed Air, Linpac Packaging, RPC Group, Plastipak Packaging, Graham Packaging, WestRock, Graphic Packaging International, Schur Packaging, Smurfit Kappa Group, Mondi, Multivac, and Thermoform Engineering.
Key Developments:
In April 2024, Amcor introduced a range of thermoformed trays made from PETG and APET, focusing on healthcare applications to enhance safety and efficiency in packaging.
In March 2023, Sonoco Products Company launched innovative shallow trays designed for the food service industry, emphasizing sustainability and user convenience.
In April 2022, Amcor announced investments to expand its thermoforming capabilities in Ireland, primarily focusing on medical packaging. This expansion is expected to increase the company's capacity to meet the growing demand for thermoformed shallow trays in the healthcare sector.
Material Types Covered:
• Plastic
• Paperboard
• Aluminum
• Biodegradable Materials
• Other Material Types
Forming Types Covered:
• Vacuum Forming
• Pressure Forming
• Plug-Assist
• Mechanical Forming
• Twin Sheet Forming
• Other Forming Types
Tray Types Covered:
• Single-Compartment Tray
• Multi-Compartment Tray
Shapes Covered:
• Rectangular
• Square
• Oval
• Custom Shapes
End Users Covered:
• Food & Beverage
• Pharmaceuticals
• Electronics
• Automotive
• Cosmetics & Personal Care
• Industrial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Thermoformed Shallow Trays Market, By Material Type
5.1 Introduction
5.2 Plastic
5.2.1 Polyethylene Terephthalate (PET)
5.2.2 Polypropylene (PP)
5.2.3 Polyvinyl Chloride (PVC)
5.2.4 Polystyrene (PS)
5.2.5 High-Density Polyethylene (HDPE)
5.2.6 Low-Density Polyethylene (LDPE)
5.2.7 Polylactic Acid (PLA)
5.3 Paperboard
5.4 Aluminum
5.5 Biodegradable Materials
5.6 Other Material Types
6 Global Thermoformed Shallow Trays Market, By Forming Type
6.1 Introduction
6.2 Vacuum Forming
6.3 Pressure Forming
6.4 Plug-Assist
6.5 Mechanical Forming
6.6 Twin Sheet Forming
6.7 Other Forming Types
7 Global Thermoformed Shallow Trays Market, By Tray Type
7.1 Introduction
7.2 Single-Compartment Tray
7.3 Multi-Compartment Tray
8 Global Thermoformed Shallow Trays Market, By Shape
8.1 Introduction
8.2 Rectangular
8.3 Square
8.4 Oval
8.5 Custom Shapes
9 Global Thermoformed Shallow Trays Market, By End User
9.1 Introduction
9.2 Food & Beverage
9.2.1 Ready-to-eat Meals
9.2.2 Meat, Poultry, and Seafood
9.2.3 Bakery and Confectionery
9.2.4 Dairy Products
9.2.5 Fruits and Vegetables
9.3 Pharmaceuticals
9.4 Electronics
9.5 Automotive
9.6 Cosmetics & Personal Care
9.7 Industrial
9.8 Other End Users
10 Global Thermoformed Shallow Trays Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Berry Global
12.2 Amcor
12.3 Reynolds Consumer Products
12.4 Huhtamaki
12.5 Sonoco
12.6 Sealed Air
12.7 Linpac Packaging
12.8 RPC Group
12.9 Plastipak Packaging
12.10 Graham Packaging
12.11 WestRock
12.12 Graphic Packaging International
12.13 Schur Packaging
12.14 Smurfit Kappa Group
12.15 Mondi
12.16 Multivac
12.17 Thermoform Engineering
List of Tables
1 Global Thermoformed Shallow Trays Market Outlook, By Region (2022-2030) ($MN)
2 Global Thermoformed Shallow Trays Market Outlook, By Material Type (2022-2030) ($MN)
3 Global Thermoformed Shallow Trays Market Outlook, By Plastic (2022-2030) ($MN)
4 Global Thermoformed Shallow Trays Market Outlook, By Polyethylene Terephthalate (PET) (2022-2030) ($MN)
5 Global Thermoformed Shallow Trays Market Outlook, By Polypropylene (PP) (2022-2030) ($MN)
6 Global Thermoformed Shallow Trays Market Outlook, By Polyvinyl Chloride (PVC) (2022-2030) ($MN)
7 Global Thermoformed Shallow Trays Market Outlook, By Polystyrene (PS) (2022-2030) ($MN)
8 Global Thermoformed Shallow Trays Market Outlook, By High-Density Polyethylene (HDPE) (2022-2030) ($MN)
9 Global Thermoformed Shallow Trays Market Outlook, By Low-Density Polyethylene (LDPE) (2022-2030) ($MN)
10 Global Thermoformed Shallow Trays Market Outlook, By Polylactic Acid (PLA) (2022-2030) ($MN)
11 Global Thermoformed Shallow Trays Market Outlook, By Paperboard (2022-2030) ($MN)
12 Global Thermoformed Shallow Trays Market Outlook, By Aluminum (2022-2030) ($MN)
13 Global Thermoformed Shallow Trays Market Outlook, By Biodegradable Materials (2022-2030) ($MN)
14 Global Thermoformed Shallow Trays Market Outlook, By Other Material Types (2022-2030) ($MN)
15 Global Thermoformed Shallow Trays Market Outlook, By Forming Type (2022-2030) ($MN)
16 Global Thermoformed Shallow Trays Market Outlook, By Vacuum Forming (2022-2030) ($MN)
17 Global Thermoformed Shallow Trays Market Outlook, By Pressure Forming (2022-2030) ($MN)
18 Global Thermoformed Shallow Trays Market Outlook, By Plug-Assist (2022-2030) ($MN)
19 Global Thermoformed Shallow Trays Market Outlook, By Mechanical Forming (2022-2030) ($MN)
20 Global Thermoformed Shallow Trays Market Outlook, By Twin Sheet Forming (2022-2030) ($MN)
21 Global Thermoformed Shallow Trays Market Outlook, By Other Forming Types (2022-2030) ($MN)
22 Global Thermoformed Shallow Trays Market Outlook, By Tray Type (2022-2030) ($MN)
23 Global Thermoformed Shallow Trays Market Outlook, By Single-Compartment Tray (2022-2030) ($MN)
24 Global Thermoformed Shallow Trays Market Outlook, By Multi-Compartment Tray (2022-2030) ($MN)
25 Global Thermoformed Shallow Trays Market Outlook, By Shape (2022-2030) ($MN)
26 Global Thermoformed Shallow Trays Market Outlook, By Rectangular (2022-2030) ($MN)
27 Global Thermoformed Shallow Trays Market Outlook, By Square (2022-2030) ($MN)
28 Global Thermoformed Shallow Trays Market Outlook, By Oval (2022-2030) ($MN)
29 Global Thermoformed Shallow Trays Market Outlook, By Custom Shapes (2022-2030) ($MN)
30 Global Thermoformed Shallow Trays Market Outlook, By End User (2022-2030) ($MN)
31 Global Thermoformed Shallow Trays Market Outlook, By Food & Beverage (2022-2030) ($MN)
32 Global Thermoformed Shallow Trays Market Outlook, By Ready-to-eat Meals (2022-2030) ($MN)
33 Global Thermoformed Shallow Trays Market Outlook, By Meat, Poultry, and Seafood (2022-2030) ($MN)
34 Global Thermoformed Shallow Trays Market Outlook, By Bakery and Confectionery (2022-2030) ($MN)
35 Global Thermoformed Shallow Trays Market Outlook, By Dairy Products (2022-2030) ($MN)
36 Global Thermoformed Shallow Trays Market Outlook, By Fruits and Vegetables (2022-2030) ($MN)
37 Global Thermoformed Shallow Trays Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
38 Global Thermoformed Shallow Trays Market Outlook, By Electronics (2022-2030) ($MN)
39 Global Thermoformed Shallow Trays Market Outlook, By Automotive (2022-2030) ($MN)
40 Global Thermoformed Shallow Trays Market Outlook, By Cosmetics & Personal Care (2022-2030) ($MN)
41 Global Thermoformed Shallow Trays Market Outlook, By Industrial (2022-2030) ($MN)
42 Global Thermoformed Shallow Trays Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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