Plastic Tray and Container Market Size to Hit USD 14.70 Bn by 2034

Plastic Tray and Container Market Size and Companies Insights

The plastic tray and container market size reached US$ 9.98 billion in 2024 and is projected to hit around US$ 14.70 billion by 2034, expanding at a CAGR of 3.95% during the forecast period from 2024 to 2034.

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The market is proliferating due to the increasing business retail market of food& beverage, healthcare services, horticulture, e-commerce, personal care & cosmetics, hotels & cafes, catering, offices, bakeries, and many others which require plastic trays and containers for storage, packaging and delivery purposes. The growing trend of online ordering facilities is boosting the plastic tray and container market.

Market Overview

The plastic tray and container market is in high demand as numerous market players prefer this due to its affordability. These trays and containers are useful in several ways as they are sturdy, moisture-resistant, and lightweight, making them perfect for storing and transporting various products. The need for plastic packing is rising due to its accessibility, artistic visuals, and advanced environment-friendly choices. The plastic tray and container market is observing noteworthy development, determined by the accessibility of advanced, inexpensive, and sustainable packaging results.

These can be modified easily according to the purpose of different industries and also to encourage brands. Plastic trays and containers provide excellent quality protection against oxygen and water vapour to the food items and beverages packed. As businesses are continuously prioritizing sustainable and recyclable products this plastic tray and container market is anticipated to grow in upcoming times with an effort on recycling materials and ecological packaging solutions. The global packaging industry size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.

Driver

Recyclable Property Enhance the Plastic Tray and Container Market

Recyclable plastic trays and containers are in high demand in the market as these are useful for numerous purposes. With the rapid growth of the consumer goods, food & beverage industry, cosmetic industry, and many others have started shifting toward better packaging possibilities that are recyclable, lightweight, safe and sustainable for transporting purposes. Plastic tray and container packaging is well-known for its sturdiness and, confirms that foods are tightly packed and endangered.

Whether it is about the hustle while transporting goods or the push while shopping with carts, plastic containers are suitable in all cases. Furthermore, it is lightweight which makes it preferable for several uses. Apart from food & beverages, in the personal care and cosmetics industry, polypropylene is extensively used for manufacturing jars and bottles for packaging powders, creams, and various other cosmetic products. The durability and compact size of such containers protect products from light, dust, air, moisture, and dirt, confirming the integrity of the packaging.

• In December 2023, Ficacci Olive Company, announced the launch of paper trays. These are sustainable innovations with 100 per cent recyclability. 

Plastic Tray and Container Market Trends

• Convenient and Hygienic Packaging: Plastic trays and containers are easy to handle hence these are highly used in the cosmetic industry. These can keep products safe and protect them from external conditions which influence the usage of these products in the healthcare sector as well.
• Durability in Packaging: Such plastic products are widely used in the packaging industry due to their sturdiness and ability to withstand adverse conditions while transporting products.
• Customisation Option: These trays and containers can be customised easily according to requirements which makes them suitable to use for several purposes. Plastic trays and containers can be moulded in several shapes, sizes, and colours to fulfil brand needs and help them to differentiate from other products.

Market Opportunity

Rising Pharmaceutical Industry Demands Hygienic Packaging of Drugs and Vaccines

In the pharmaceutical sector, earlier glass containers were widely used for packaging purposes of medicines, drugs and vaccines. But now it has shifted towards plastic trays and containers as they are considered easier to use, lightweight, resistant to leakage, and cost-effective in comparison to glass packaging. The major chosen materials in the healthcare sector for trays and containers are polypropylene, polystyrene, polyethene, and polyvinyl chloride. Plastic-based trays and containers are chemically inactive and unaffected by corrosion this quality protects the medicines and drugs and increases their shelf-life.

Hence, the speedily rising pharmaceutical sector will boost the demand in the predicted period. The air management system is of supreme position in these situations, continuing the essential antiseptic and sterile situations as well as superior quality access and covering measures. Enhanced-quality plastic trays and containers are widely used by the pharmaceutical sector for drug and vaccine packaging. Polyethylene works as a good barrier against several germs that keep products contamination-free.

• In November 2023, Fresh Del Monte Produce Inc., announced the collaboration with Arena Packaging, to manufacture reusable plastic containers (RPC) for bananas.

The decay of plastic material is slower in comparison to the quantity it is produced every year. The recycling procedure of plastic trays and containers is an extensive procedure that comprises melting, selling, resolving, and shipping. Moreover, chemicals used in making plastic are dangerous and can generate toxic waste.

Regional Insights

Rising Demand for Packaged Food: Asia’s

Asia Pacific witnessed the highest revenue share for the year 2023. This packaging material is in high demand in food & beverage packaging as it is non-toxic and keeps food safe while transporting. Its property of resistance to moisture, dust, dirt, and any external factors makes it the most preferable packaging solution for the food industry. Rising food & beverage firms have a direct influence on the plastic tray and container market.

The wide expansion of e-commerce mobile applications has provided ease to consumers for ordering online food products which enhances this market. Developing countries such as India, China, Japan, South Korea, and Thailand are progressively working toward innovative facilities for online orders of food and also sustainable measures for plastic products.

Established E-commerce Businesses

North America is estimated to grow at the fastest rate over the forecast period. The growing demand for online order systems in the e-commerce business comprises several factors such as rising inhabitants, economic situations, start-up culture, expansion, and many others. The demand for such plastic trays and containers for packaging purposes is growing in this region as these are cost-effective choices as well as provide progressive security to any type of delicate substances which makes them perfect for shipping.

With the progress of the e-commerce sector, there has been a massive upsurge in the capacity of products that are essential to be delivered, which has resulted in a continuous expansion in the demand for the packaging of materials. This has formed various new openings for the plastic tray and container market, with several market players emerging with new packaging initiatives that are only designed for e-commerce product shipment.

• In January 2023, according to reports the UK government introduced Environmental Improvement Plan 2023. Their target is to make sure that the residual municipal plastic waste should not be more than 42 kg per capita annually by the end of January 2028.  

Segmental Insights

By type, the PP segment led the plastic tray and container market in 2023. These polypropylene trays and containers are in demand widely due to their versatile, durable and lightweight nature. These are widely used in all sectors such as pharmaceuticals, consumer goods and food & beverages as these are suitable for maintaining both high and low temperatures. Innovation in packaging techniques has improved the performance of PP products. The growing trend of ready-to-eat food has also driven this market as it requires air-tight packaging solutions.

By application, the agriculture packaging trays and containers segment led the plastic tray and container market in 2023. These products are majorly used in seedling propagation, plant delivery, and packaging agriculture products. Biodegradable plastic trays and containers are highly preferred in this sector due to sustainable practices in the agriculture field. The growing influence of greenhouse farming and vertical agriculture enhances the demand for special trays and container patterns which are precisely manufactured for crops.

Recent Developments

• In April 2024, Klöckner Pentaplast, announced the launch of their first-ever food packaging products which are 100% Recycled PET Trays. This is developed to rewrite the PET recycling rules.
• In August 2024, Pactiv Evergreen Inc., which is a food and beverage packaging manufacturer announced the launch of Recycleware reduced-density polypropylene (RDPP) meat trays.
• In June 2024, CREO Group, announced the launch of a new parent company named Mill Point Capital LLC. This new parent company is to integrate Nursery Supplies Inc. and Summit Plastic Company. 
• In July 2024, The Montgomery County Department of Environmental Protection announced a program for recycling g plastic waste.

Plastic Tray and Container Market Companies

• Container Distributors, Inc.
• Jakacki Bag & Barrel
• Rahway Steel Drum Company
• Mold-Tek Packaging
• Abose Plastics
• Ahimsa Industries
• AG POLY PACKS PRIVATE LIMITED
• Bharat Polymer Extrusions
• Darshit Trading Company
• Global Medi Exporters

Plastic Tray and Container Market Segments

By Type

• PP
• PE
• PVC

By Application

• Agriculture
• Food and Beverage
• Pharmaceuticals
• Industrial

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait