[209+ Pages Report] According to Zion Market Research, the Global Foam Trays Market size was valued at around USD 2259.5 million in 2022 and is estimated to grow about USD 3250.8 million by 2030, at a CAGR of approximately 4.82% between 2023 and 2030. The key players covered in the report are Dart Container Corporation, Genpak LLC, Huhtamaki Oyj, Pactiv LLC, Sealed Air Corporation, Placon Corporation, Anchor Packaging, Inc., Fagerdala USA, Inc., Premier Protective Packaging, VFP Technologies, Inc., CKF Inc., Ecopax, LLC, Reynolds Packaging Group, Universal Foam Products, VFP Inc., New England Foam Products, Ultramotive Corporation, Ridout Plastics Co. Inc., and others.

NEW YORK, United States, May 16, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Foam Trays Market By Material Used (Polyester, Polyethylene, Polystyrene, Polypropylene), By Applications (Food Packaging, Pharmaceutical, And Industrial Applications), By Coverage Type (Industrial Grade And Food Grade), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Foam Trays Market size & share in terms of revenue was valued at USD 2259.5 million in 2022 and it is expected to surpass around USD 3,250.8 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.82% during the forecast period 2023 to 2030.”

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What are Foam Trays? How big is the Foam Trays Industry?

Report Overview:

For storing and transporting food, foam trays are a typical type of packaging. It's a tray made out of Styrofoam, which is thin and provides excellent heat insulation. For packaging a wide range of foods, including meats, fruits, and vegetables, foam trays are available in a variety of sizes and shapes. widely used in grocery stores, restaurants, and other food service establishments.

When it comes to packaging, foam trays are affordable and offer excellent protection for food during storage and transportation. They take up less room in storage and are simple to stack. Additionally, recyclable foam trays are a green choice for companies concerned with sustainability. Foam inserts can be used for creative endeavors like crafts and home decor in addition to their practical applications.

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Our Free Sample Report Consists of the Following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
• About 209+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research Methodology

Growth Factors

• The global foam trays market is driven by factors, such as the surge in demand for accessible and affordable food packaging solutions.
• The rise in popularity of pickup and delivery services has also increased demand for foam trays in the food service industry.
• In addition, the growing focus on sustainability creates new opportunities for foam tray manufacturers to offer environmentally friendly and recyclable alternatives.

Challenges

• The foam tray industry also faces challenges, such as increased regulation of the use of plastic-based products due to their negative environmental impact.
• This has led to a shift to alternative materials that are biodegradable and compostable.

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Report Scope

Report Attribute	Details
Market Size in 2022	USD 2259.5 Million
Projected Market Size in 2030	USD 3,250.8 Million
CAGR Growth Rate	4.82% CAGR
Base Year	2022
Forecast Years	2023-2030
Key Market Players	Dart Container Corporation, Genpak LLC, Huhtamaki Oyj, Pactiv LLC, Sealed Air Corporation, Placon Corporation, Anchor Packaging, Inc., Fagerdala USA, Inc., Premier Protective Packaging, VFP Technologies, Inc., CKF Inc., Ecopax, LLC, Reynolds Packaging Group, Universal Foam Products, VFP Inc., New England Foam Products, Ultramotive Corporation, and Ridout Plastics Co. Inc.
Key Segment	By Material Used, By Applications, By Coverage Type, and By Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options	Request customized purchase options to meet your research needs. Explore purchase options

Foam Trays Market: Segmentation Analysis

The global foam trays market is segmented based on the material used, applications, coverage type, and region.

Based on material, the global foam trays market is bifurcated into polyester, polyethylene, polystyrene, and polypropylene. The polystyrene segment held the dominating market share in 2022 and is further projected to grow rapidly during the forecast period. The segment is influenced by several factors, such as the growing demand for lightweight and durable packaging materials. Polystyrene trays are known for their excellent insulating properties, making them a popular choice for transporting and storing heat-sensitive products. In addition, polystyrene foam trays are cost-effective, so they are a favorable choice for companies in the food industry. The versatility of polystyrene trays in terms of size and shape increases their appeal to different foods.

Based on application, the global market is segmented into food packaging, pharmaceutical, and industrial applications.

Based on coverage type, the foam trays industry is segmented into industrial grade and food grade. The industrial grade segment held the largest CAGR and is further projected to grow rapidly during the forecast period. The segment is driven by several factors such as increasing demand for packaging materials that provide superior protection to products during transportation and storage. Industrial foams are known for their durability and strength, making them ideal for packing heavy and bulky products. They are also light and easy to handle, which increases their appeal in industrial applications.

In addition, industrial-grade foam boards are resistant to moisture, chemicals, and other environmental factors, so they are suitable for use in harsh conditions. Demand for industrial-grade foam trays is expected to continue to grow due to the need for efficient and effective packaging solutions in various industries such as electronics, automotive, and healthcare.

The global Foam Trays market is segmented as follows:

By Material Used

• Polyester
• Polyethylene
• Polystyrene
• Polypropylene

By Applications

• Food Packaging
• Pharmaceutical
• Industrial Applications

By Coverage Type

• Industrial Grade
• Food Grade

Take a Look at the Complete Study | Foam Trays Market By Material Used (Polyester, Polyethylene, Polystyrene, Polypropylene), By Applications (Food Packaging, Pharmaceutical, And Industrial Applications), By Coverage Type (Industrial Grade And Food Grade), And By Region - Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

Competitive Landscape

Some of the main competitors dominating the global foam trays market include - 

• Dart Container Corporation
• Genpak LLC
• Huhtamaki Oyj
• Pactiv LLC
• Sealed Air Corporation
• Placon Corporation
• Anchor Packaging Inc.
• Fagerdala USA Inc.
• Premier Protective Packaging
• VFP Technologies Inc.
• CKF Inc.
• Ecopax LLC
• Reynolds Packaging Group
• Universal Foam Products
• VFP Inc.
• New England Foam Products
• Ultramotive Corporation
• Ridout Plastics Co. Inc.

 Key Insights from Primary Research:

• According to the analysis shared by our research analyst, the Foam Trays market is likely to expand at a CAGR of around 4.82% during the forecast period (2023-2030).  
• In terms of revenue, the Foam Trays market size was valued at around US$ 2259.5 million in 2022 and is projected to reach US$ 3,250.8 million by 2030.
• The foam trays market is projected to grow at a significant rate due to the growing demand for a convenient packaging solution.
• Based on type segmentation, isopropanol was predicted to show maximum market share in the year 2022.
• Based on coverage type segmentation, food grade was the leading type in 2022.
• On the basis of region, North America was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Foam Trays industry?
• What are the main driving factors propelling the Foam Trays Market forward?
• What are the leading companies in the Foam Trays Industry?
• What segments does the Foam Trays Market cover?
• How can I receive a free copy of the Foam Trays Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Material Used, By Applications, By Coverage Type, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The North American region held the largest foam trays market share in 2022 and is further projected to surge exponentially during the forecast period. One of the key factors behind this growth is the growing demand for convenient and durable food packaging solutions due to the growing popularity of pickup and delivery services in the region. In addition, the investment in food safety and hygiene is also increasing the demand for foam plates in the catering industry.

The use of foam trays is also expanding beyond the food industry, with increasing applications in the industrial and healthcare sectors. Demand for high-quality and durable foam substrates for packaging electronic devices, medical devices, and other products is expected to drive growth in the region. In addition, the increasing adoption of environmentally friendly packaging materials is expected to increase the demand for recyclable foam boards in the region.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/foam-trays-market

Recent Developments

• In May 2021, WinCup, a leading manufacturer of foam packaging for the hospitality industry, launched Vio, a new series of compostable foam trays made from plants. Announced the launch of expanded polypropylene (EPP) trays. base material. Vio's EPP trays are designed to offer an eco-friendly alternative to traditional foam trays as they provide excellent insulation and food protection.
• In March 2021, Genpak, a leading manufacturer of food packaging products, introduced a new tamper-evident foam tray designed to improve food safety. bottom. The new trays incorporate a tamper-evident seal that provides proof of tampering and ensures food safety during transportation and storage.

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