A latest Research on the recyclable ovenable tray market is that the market is all set to witness healthy growth with a growth rate of around 4% to 6% during the assessment period of 2021 – 2031.
Product will experience a great rise in demand owing to its recyclable constituent materials which make it sustainable packaging option and a eco-friendly product of choice.
What is Driving the Demand for Recyclable Ovenable Trays?
Biodiversity on earth is facing a lot of issues and health hazards owing tremendous rise in pollution across the globe. To protect marine & land based biological environments from these health hazards and saving the earth from pollution many awareness programs, governmental initiatives and other development efforts are being undertaken to increase mass awareness on the issue.
With the rise in awareness among the people the demand for recyclable and eco-friendly products is increasing with a remarkable growth rate. Consumers are preferring recyclable and eco-friendly products over conventional products, even at additional costs.
Various initiatives by regional governments and environmental regulatory bodies to save the environment, such as the restrictions on the use of polythene in various regions, regulations on manufacturing of non-recyclable products, etc. are also promoting manufacturers to develop eco-friendly and recyclable products.
These factors are expected to be a key driver for recyclable ovenable trays during the forecast period.
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Increasing Preference for Eco-friendly Packaging Products to Augment Recyclable Ovenable Trays market Demand
Ovenable trays are the best solution for packing ready-to-eat food developed by food manufacturers. Ready-to-eat food is experiencing great demand owing to the busy and dynamic lifestyle of the consumers. With the growth in ready-to-eat food products, the ovenable tray market is also expected to witness an immense rise in demand.
This rise in demand is due to more time-saving specifications of the ovenable trays as the consumers can store their food in freezers in these trays while they can also micro-wave it keeping the same packaging.
In addition, due to changing preference of consumers towards eco-friendly products, an extra advantage has been added to recyclable ovenable trays that make them different from their alternatives and thus boosting sales.
US and China Recyclable Ovenable Tray Market Outlook
The US is one of the largest consumers of the recyclable ovenable tray market. There is substantial demand for disposable kitchenware in the American market.
On the other hand, various environment regulatory bodies in the US such as the Environmental Protection Agency (EPA) and various others are compelling manufacturers to develop and produce recyclable products. All of these aspects makes the US a lucrative market for recyclable ovenable trays during the forecast period.
China is a developing country with a vast urbanized population undergoing a huge lifestyle change. Moreover the country been increasing its efforts towards sustainability and environmental protection over some recent years with new regulations.
The high demand for ready to eat food products, and growing awareness and adoption of recyclable packaging materials is projected to create significant demand boost for the Recyclable Ovenable Trays market in China.
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Europe Demand Outlook for Recyclable Ovenable Trays
Europe is one of the most lucrative market owing to the presence of comparatively the most stringent environmental regulations pertaining to packaging materials in the region. Also, there are high levels of awareness pertaining to environmental protection across businesses and consumers in the region.
Owing to such factors, the region creates ample opportunity for recyclable and eco-friendly products. Moreover, the countries in the European region witnesses significant demand for ovenable kitchenware owing to the prevalent lifestyle of a considerable part of the population. The above-mentioned factors are expected to enhance the sales of Recyclable Ovenable Trays in the region during the forecast period.
Who are Key Manufacturers and Suppliers of Recyclable Ovenable Trays?
Some of the leading manufacturers and suppliers include
Many manufacturers are shifting their product portfolio towards bio-based products to compensate for the shifting demand from the consumer. Research and development investments from the manufacturer side are increasing to cater to the shifting demand and attract the market with new and innovative products, this will be a key strategy for the manufacturers to elevate their revenues and establish footprints.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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