Global Rigid Trays Packaging Market Size, Share & Trends Analysis Report By Application (Food & Beverage, Pharmaceutical, and Others), By Material (Plastic, Paperboard, Metal, and Glass), By Regional Outlook and Forecast, 2024 - 2031
The Global Rigid Trays Packaging Market size is expected to reach $126.7 billion by 2031, rising at a market growth of 5.2% CAGR during the forecast period.
In Germany, the rise of e-commerce and the food and beverage sector are significant drivers of demand for rigid tray packaging. In Germany, online marketplaces generated approximately 51% of B2C e-commerce revenue in 2021. The turnover in 2020 increased by nearly 20%, with a revenue of EUR 50.5 billion for the year. This growth necessitates reliable packaging solutions to ensure the safe transit of goods, particularly for fragile and high-value items. Thus, the Europe region acquired 22% revenue share in the market 2023.
Rigid trays play a crucial role in this market expansion. These trays are designed to offer superior durability and protection for the food items they contain. Rigid trays can withstand the effects of transportation and handling without jeopardizing the quality of the food contained within.
Additionally, as retailers integrate online and offline shopping experiences, reliable packaging solutions that seamlessly transition between in-store displays and home delivery become crucial. Rigid trays provide the necessary durability and protection for products shipped directly to consumers, ensuring that items arrive pristine. Thus, expanding retail chains and supermarkets is significantly boosting the demand for rigid trays.
However, High production costs are often higher than alternative packaging solutions, particularly for trays made from high-quality or sustainable materials. One of the primary factors contributing to high production costs is the expense of raw materials. Traditional rigid trays are often made from plastic or aluminum, which can be costly. The expense may be even greater when organizations choose more sustainable materials, such as recyclable composites or biodegradable plastics. Hence, the high production costs associated with rigid trays pose a significant challenge to the market's growth.
Application Outlook
Based on application, the market is classified into pharmaceutical and food & beverage. The pharmaceutical segment procured 23% revenue share in the market in 2023. The demand for efficient packaging options has been prompted by the escalating prevalence of chronic diseases and the resulting increase in medication consumption.
Material Outlook
By material, the market is divided into plastic, glass, metal, and paperboard. The plastic segment witnessed 52% revenue share in the market in 2023. This can be attributed to the prevalent use of plastic, which is cost-effective, durable, and versatile. Plastic trays are lightweight, lightweight, and can be readily molded into a variety of shapes and sizes.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 29% revenue share in the market in 2023. The growing demand for high-quality, durable packaging solutions is driven by the region's well-established food & beverage and pharmaceutical industries.
List of Key Companies Profiled
- Placon Corporation
- Tekni-Plex Inc.
- Berry Global Group
- Sonoco Products Company
- Amcor Plc
- DS Smith Plc
- Genpak, LLC (Great Pacific Enterprises, Inc.)
- Dart Container Corporation
- Anchor Packaging LLC
- Winpak Ltd. (Wihuri International Oy)
Global Rigid Trays Packaging Market Report Segmentation
By Application
- Food & Beverage
- Pharmaceutical
- Others
By Material
- Plastic
- Paperboard
- Metal
- Glass
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA