The global plastic tray market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each plastic tray market player in a comprehensive way. Further, the plastic tray market report emphasizes the adoption pattern of the plastic tray across various industries.
The plastic tray market report offers a plethora of insights which include:
- Changing consumption pattern among individuals globally.
- Historical and future progress of the global plastic tray market.
- Region-wise and country-wise segmentation of the plastic tray market to understand the revenue, and growth lookout in these areas.
- Accurate Year-on-Year growth of the global plastic tray market.
- Important trends, including proprietary technologies, ecological conservation, and globalization affecting the global plastic tray market.
The plastic tray market is projected to expand at a very slow phase with the global sales of plastic tray surpassing US$ 7,000 million by the end of 2018, according to the latest report by Fact.MR. Introduction of eco-friendly alternatives to the plastic trays such as fiber-based trays, bagasse or sugarcane trays, paper trays, and plant-based plastics are emerging as a threat in the growth of the plastic tray market. However, manufacturers in the plastic tray market are focusing on developing reusable and recyclable plastic trays.
Moreover, the rise in human health concerns due to use of plastic is also leading to the development of new products, for instance, companies have started offering BPA-free plastic products, including plastic trays, bottles, containers, and other products. Companies are also investing in the research and development of plastic trays that are safe to use across industries including food and beverages, personal care, pharmaceuticals, and consumer electronics.
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Polyethylene Terephthalate (PET) to Find Largest Application in Plastic Tray Production
Polyethylene Terephthalate (PET) is expected to be one of the largest used materials in the production of plastic trays. PET is projected to expand at a significant rate during the forecast period 2018-2027. By the end of 2018, Polyethylene Terephthalate is expected to bring in more than US$ 2,000 million in terms of revenue, as per the report on plastic tray market by Fact.MR.