Major players in the foam trays market are Sealed Air Corporation, Pactiv, Anchor Packaging LLC, Placon Corporation Inc, D&W Fine Pack LLC, Coveris Holdings S. A, Genpak LLC, Groupe Guillin SA, Berry Global, Ecopax LLC, Dart Container, Reynolds Group Holdings Limited, Sirap Group, Novipax, CKF Inc.
New York, July 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Foam Trays Global Market Report 2022" - https://www.reportlinker.com/p06290055/?utm_source=GNW
, and Falcon Pack.
The global foam trays market is expected to grow from $2.19 billion in 2021 to $2.39 billion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The foam trays market is expected to grow to $2.98 billion in 2026 at a CAGR of 5.7%.
The foam trays market consists of sales of foam trays by entities (organizations, sole traders, and partnerships) that are used to serve takeaway food from restaurants.The foam functions as a good thermal insulator, making the container simple to carry while also keeping the food at the temperature it was at when it was filled, whether hot or cold.
Foam trays are mainly used in the food packaging industry to help prevent liquids from leaking into packaged food and beverages.
The main types of components of an industrial refrigeration system are compressor, condenser, evaporator, control, vessel, pump, valves, and auxiliary equipment.The condenser is used to allow high-pressure and temperature refrigerant vapor to condense and eject heat.
These are based on various refrigerant types such as ammonia, carbon dioxide, hydrofluorocarbon (HFC), and other types. They are used in various applications including fresh fruits and vegetables, meat, poultry and fish, dairy and ice cream, beverages, chemicals, pharmaceuticals, and other applications.
North America was the largest region in the foam trays market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the foam trays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The foam trays market research report is one of a series of new reports that provides foam trays market statistics, including foam trays industry global market size, regional shares, competitors with a foam trays market share, detailed foam trays market segments, market trends and opportunities, and any further data you may need to thrive in the foam trays industry. This foam trays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Increasing food safety issues are expected to propel the growth of the foam trays market going forward.Food safety refers to procedures for preparing, handling, and storing food that is designed to avoid foodborne sickness and injury.
Foam trays foodservice packaging insulates better, keeps food fresher for longer, and is less expensive than other options. For instance, in 2020, according to World Health Organization, nearly one in every ten people are becoming unwell after eating contaminated food, and 4.2 lakh people will die each year, resulting in the loss of 33 million good life years. In addition, children under five years of age have 40% of the foodborne disease burden, with 1.25 lakh deaths every year. Therefore, the increasing food safety issues drive the growth of the foam trays market.
Strategic partnerships have emerged as the key trend gaining popularity in the foam trays market.Major companies operating in the foam trays sector are focused on partnerships to strengthen their position.
For instance, in June 2019, Anchor Packaging LLC, a US-based manufacturer of foam trays partnered with The Jordan Company, a US-based private equity firm.Through this partnership, Anchor aims to support organic growth and continue new product development in the foam trays sector.
Further, in November 2019, Genpak, a US-based company operating in foam trays partnered with Danimer Scientific, a US-based biopolymer manufacturer. Through this partnership, Danimer Scientific develops a new biodegradable food container line that reduces the environmental impact of non-biodegradable packaging and further increases the demand for foam trays.
In September 2021, Tekni-Plex, a US-based manufacturer of packaging and tubing materials, acquired Keyes Packaging Group from Arbor Investments for an undisclosed amount.This acquisition expands Tekni-tray Plex’s flat portfolio, which benefits customers in the food and beverage industry.
KEYES Packaging Group is a US-based manufacturer of foam trays.
The countries covered in the foam trays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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