New Comprehensive Report on Foam Trays Market to Witness an Outstanding Growth

 Foam Trays Market - Snapshot

Foam trays are primarily used in food packaging applications. They help prevent liquids from leaking in packaged food and beverages. Foam trays are ideal for usage for fruits, vegetables, meat, and poultry. These trays are usually made from polystyrene, which is a highly compact foam. Foam trays are available in various shape and sizes. These trays are also employed in various other applications such as food service, meat packaging, test tube holders, and small tools packaging.

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Low cost and convenient usage of foam trays are driving the demand for these trays in various applications in food packaging industry verticals. Foam trays protect the food from chemical, biological, and physical hazards.

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The global foam trays market is anticipated to expand at a significant pace during the forecast period, primarily due to the rise in demand for cost effective foam trays and rise in concerns regarding food safety. The process involved in the production of foam trays is not complex. It consists of fewer number of phases vis-à-vis production of plastics through the polymerization process. The labor cost involved in the production of foam is also low. This ultimately lowers the overall cost of foam trays. Concerns regarding the safety of food are increasing day-by-day. Foam trays protect food from environmental effects. The foam trays market was valued at around US$ 2.5 Bn in 2018 and is expected to expand at a CAGR of more than 3.8% during the forecast period. However, non-biodegradable nature of foam is restraining the foam trays market. Foam breaks down slowly and may sit at the landfills for more than 500 years. Furthermore, availability of bio-based products can hamper the foam trays market.

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Key players operating in the foam trays market need to focus on manufacturing bio-based products and promoting these accordingly. Major players are engaged in establishing new facilities and entering into acquisitions and mergers to develop and launch new products. On January 17, 2019, Tekni-Plex’s subsidiary Tri-seal expanded its closure liner offerings with the addition of three cost effective, co-extruded foam products. Tri-seal is known for closure liners and seal products manufactured from polyethylene foam, which is used to package food, cosmetics, pharmaceuticals, health care, agriculture, and chemical products. On May 1, 2018, Tekni-Plex acquired Commodore Plastics and Commodore Technology under a newly-formed subsidiary: Dolco LLC. Commodore Plastics offers a wide range of traditional and custom polystyrene (PS) foam trays, which include padded food processors, industrial trays, and supermarket display trays. Commodore Plastics is expected to become a part of Delco Packaging, which is the largest producer of foam egg carton trays. It comprises innovative technologies of additive manufacturing of sustainable decoration solutions as well as novel technology for resalable packaging.

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Based on material, the global foam trays market has been divided into polyethylene, polypropylene, polyester, polystyrene, and others (including antistatic polyethylene, polyurethane, and fluoride). Polystyrene is the commonly used material in the manufacture of foam trays as it is lightweight and less expensive. Polyethylene foam trays are tougher than polystyrene foam trays. They are also lightweight and moisture resistant.

Based on application, the global foam trays market has been classified into pharmaceuticals, food packaging [meat & poultry, dairy products, food service {clamshells}, fruits & vegetables, bakeries, food chains {organized}], industrial packaging, and others (including electrical & electronics and cosmetics). Foam trays are primarily used for food packaging. The low cost and requirement-based customization of foam trays have increased their application in the food packaging sector. Increase in demand for disposable trays in food services and take-away restaurants is also driving the global foam trays market. Foam trays are also used in test tube holders and small tools packaging.

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