Thriving Food Service Industry Propelling Global Foam Trays Market

The dependence on plastics in major end-use sectors such as industrial packaging, food and beverages, and pharmaceuticals has been witnessing a major decline over the past few years owing to stringent environmental laws and growing awareness among the consumers. The several beneficial properties of foam make it an ideal alternative for packaging and the global foam trays market has been experiencing steady growth, according to analysts.

Cost-Effectiveness of Foam Trays Most Significant Factor Boosting Global Market 

The production process of foam and tray-making consists of a lesser number of phases when compared to plastic production and this makes it less complex. In addition, the cost of labor involved is also much lower, thereby resulting in an immensely cost-effective manufacturing process. This is the leading factor driving the global foam trays market. 

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Another major advantage that foam possesses over plastics is the environment-friendly nature of its raw materials. This, coupled with properties of expanded polystyrene (EPS) foam trays such as recyclability, light weight, temperature resistance, durability, shock absorbency, flexibility, and easy handling, has fueled the market for foam trays over the years.

The thriving food service industry is yet another leading factor that propels the foam trays market. The penetration of fast food chains, busy lifestyles of consumers, and rise in spending as far as take-home food is concerned, have all contributed to the surging demand for foam trays from the food service sector, especially in developing countries. 

Recyclable foam trays have given competitors an increasing number of growth opportunities, especially in countries where nonbiodegradable and environmentally harmful foam trays are banned. Even though the ban negatively impacts the foam trays market presently, it is likely to inspire innovative products and designs in the near future. 

Escalating Demand for Foam Trays in Asia Pacific 

Foam trays are today used in a wide range of industries, including food packaging, pharmaceuticals, and industrial packaging. In 2014, food packaging held the largest share of the global foam trays market in terms of application, accounting for over 80.0% of the market in terms of volume as well as revenue. In the food packaging industry, foam trays are used for packaging of dairy products, meat and poultry, fruits and vegetables, and bakeries, among others. The soaring demand for disposable trays in this sector is a significant factor fueling the foam trays market. 

The global foam trays market is spread over four main geographical regions: North America, Europe, Asia Pacific, and Rest of the World. In terms of volume, Asia Pacific dominated the global foam trays market with a share of more than 33.0% in 2014 and by revenue, North America led the overall market with a share of over 30.0%. The North America foam trays market is fueled by wide acceptance from the overall food industry. Demand stems from school lunch programs, takeaway food services, and organized food chains. In Asia Pacific, China, India, and Indonesia are the leading countries with a high demand for foam trays.

Some of the most significant contributors in the worldwide foam trays market are Genpak LLC, Ecopax, LLC, Coveris Holdings S.A., D&W Fine Pack LLC, Groupe Guillin SA, Placon Corporation Inc., Sirap Group, Berry Plastics Group, Inc., Sealed Air Corporation, Dart Container Corporation, Anchor Packaging Inc., and Pactiv LLC.

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