“Global Rigid Trays Packaging Market to reach a market value of USD 126.7 Billion by 2031 growing at a CAGR of 5.2%”
The Global Rigid Trays Packaging Market size is expected to reach $126.7 billion by 2031, rising at a market growth of 5.2% CAGR during the forecast period.
In Germany, the rise of e-commerce and the food and beverage sector are significant drivers of demand for rigid tray packaging. In Germany, online marketplaces generated approximately 51% of B2C e-commerce revenue in 2021. The turnover in 2020 increased by nearly 20%, with a revenue of EUR 50.5 billion for the year. This growth necessitates reliable packaging solutions to ensure the safe transit of goods, particularly for fragile and high-value items. Thus, the Europe region acquired 22% revenue share in the market 2023.
Rigid trays play a crucial role in this market expansion. These trays are designed to offer superior durability and protection for the food items they contain. Rigid trays can withstand the effects of transportation and handling without jeopardizing the quality of the food contained within.
Additionally, as retailers integrate online and offline shopping experiences, reliable packaging solutions that seamlessly transition between in-store displays and home delivery become crucial. Rigid trays provide the necessary durability and protection for products shipped directly to consumers, ensuring that items arrive pristine. Thus, expanding retail chains and supermarkets is significantly boosting the demand for rigid trays.
However, High production costs are often higher than alternative packaging solutions, particularly for trays made from high-quality or sustainable materials. One of the primary factors contributing to high production costs is the expense of raw materials. Traditional rigid trays are often made from plastic or aluminum, which can be costly. The expense may be even greater when organizations choose more sustainable materials, such as recyclable composites or biodegradable plastics. Hence, the high production costs associated with rigid trays pose a significant challenge to the market's growth.
Based on application, the market is classified into pharmaceutical and food & beverage. The pharmaceutical segment procured 23% revenue share in the market in 2023. The demand for efficient packaging options has been prompted by the escalating prevalence of chronic diseases and the resulting increase in medication consumption.
By material, the market is divided into plastic, glass, metal, and paperboard. The plastic segment witnessed 52% revenue share in the market in 2023. This can be attributed to the prevalent use of plastic, which is cost-effective, durable, and versatile. Plastic trays are lightweight, lightweight, and can be readily molded into a variety of shapes and sizes.
Free Valuable Insights: Global Rigid Trays Packaging Market size to reach USD 126.7 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 29% revenue share in the market in 2023. The growing demand for high-quality, durable packaging solutions is driven by the region's well-established food & beverage and pharmaceutical industries.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 85.0 Billion |
| Market size forecast in 2031 | USD 126.7 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.2% from 2024 to 2031 |
| Number of Pages | 187 |
| Number of Tables | 270 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Application, Material, Region |
| Country scope |
|
| Companies Included | Placon Corporation, Tekni-Plex Inc., Berry Global Group, Sonoco Products Company, Amcor Plc, DS Smith Plc, Genpak, LLC (Great Pacific Enterprises, Inc.), Dart Container Corporation, Anchor Packaging LLC and Winpak Ltd. (Wihuri International Oy) |
By Application
By Material
By Geography
The Market size is projected to reach USD 126.7 billion by 2031.
Increasing demand for convenience foods are driving the Market in coming years, however, High production costs associated with rigid trays restraints the growth of the Market.
Placon Corporation, Tekni-Plex Inc., Berry Global Group, Sonoco Products Company, Amcor Plc, DS Smith Plc, Genpak, LLC (Great Pacific Enterprises, Inc.), Dart Container Corporation, Anchor Packaging LLC and Winpak Ltd. (Wihuri International Oy)
The expected CAGR of this Market is 5.2% from 2024 to 2031.
The Food & Beverage segment is leading the Market, by Application in 2023; thereby, achieving a market value of $75.2 billion by 2031.
The Asia Pacific region dominated the Market, by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $55.5 billion by 2031.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 