Rigid Tray Market Outlook from 2024 to 2034

The global rigid tray market size is estimated to reach USD 11.5 billion in 2024. Displaying a CAGR of 2.2% through 2034, the industry is slated to be worth USD 14.3 billion by the forecast period. In 2023, the industry was valued at USD 11.2 billion.

Growing demand for efficient food packaging solutions around the industrial world is the prime growth factor influencing the market. Businesses are also preferring these trays as they enhance the overall shelf life of their product offerings. With the increasing focus of multinational companies to expand their geographical reach, rigid boxes are being highly sought after.

The exponential growth of the cosmetics and personal care sector in countries like India, South Korea, Japan, Thailand, etc., is also generating excellent demand for these trays as they are one of the most crucial components in packaging skincare products and makeup kits.

With the general populace becoming more conscious about their looks and the emphasis on Western beauty standards in Asian countries, the demand for rigid trays is set to experience a surge.

Rigid Tray Industry Assessment

Attributes Key Insights
Historical Size, 2023 USD 11.2 billion
Estimated Size, 2024 USD 11.5 billion
Projected Size, 2034 USD 14.3 billion
Value-based CAGR (2024 to 2034) 2.2%

Rigid trays also find their applications in the food and beverage packaging sector. Their demand in these industries is primarily due to their use in wrapping fresh produce, ready-to-eat meals, snacks, etc.

The proliferation of last-mile food delivery services in underdeveloping and developing parts of the world is also a major driver for the rigid tray market. Besides this, these trays are also demanded in bakery and confectionery packaging to ship cakes, pastries, chocolates, etc.

The global pharmaceutical sector, in the past couple of years, has seen tremendous development. Rigid plastic trays also find their place in this sector as companies involved in the manufacturing of medical equipment use rigid boxes to ensure safe, sterile, and organized packaging and transportation of sensitive instruments and devices.

In countries like India, the United States, China, etc., an overwhelming demand for these trays is observed in the pharma and medicare sectors.

A significant number of businesses in the agricultural sector are also opting for these trays as an alternative to traditional packaging methods like cardboard boxes and wooden crates to enhance the protection, freshness, and presentation of fruits and vegetables during transportation and storage.

Their demand in the industrial components sector in countries like Japan, South Korea, China, etc., during the final stages of manufacturing hardware and automotive parts is also positively contributing to the market.

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Semi-Annual Market Update

The table below illustrates the predicted CAGR for the global rigid tray market across various semi-annual periods from 2024 to 2034. The market is expected to experience a plunge, with a CAGR of 1.9%, during the first half (H1) of the decade from 2024 to 2029. However, it is anticipated to plunge and grow at a marginal rate of 2.3% in the second half (H2) of the decade from 2029 to 2034.

Particular Value CAGR
H1 2.4% (2023 to 2033)
H2 1.8% (2023 to 2033)
H1 1.9% (2024 to 2034)
H2 2.3% (2024 to 2034)

From H1 2023 to H2 2033, the CAGR is expected to slightly increase to 2.4% in the first half and then remain relatively stable at 1.8% in the second half. The market is very likely to remain constant with a retention of 60 basis points (BPS).

Key Industry Highlights

Demand for Sustainable Packaging Paves the Way for Rigid Tray Market Growth

There has been a noticeable surge in the demand for trays made from sustainable materials such as biodegradable plastics, recycled paper, and plant-based fibers. These trays are gaining popularity not just among eco-conscious consumers but also among businesses.

Packaging companies across domains are becoming enamored of these trays as they help them reduce their carbon footprint while giving a sophisticated feeling to the end users. Governments of several countries are also increasingly promoting these initiatives which has further helped the market grow.

Smart Packaging Solutions to Gain Significant Edge

With technological advancements changing the industrial world, there is an influx of a multitude of innovations in this market too. Companies involved in the manufacturing of rigid trays are incorporating QR codes, RFID tags, and NFC chips to offer enhanced traceability, product information, and interactivity.

These integrations have accelerated the adoption of these trays in a broad spectrum of industries. Temperature and humidity sensors are also game changers in this industry.

High Costs of Rigid Trays Act as a Significant Barrier to Progress

Small-scale businesses are wary of making a dent in their financial pools to package their product offerings in rigid boxes and trays. Manufacturers are thus opting for biodegradable materials in the making of rigid boxes or trays.

This has put tremendous pressure on them price-wise, which has hampered the adoption of these trays. Meanwhile, disposal concerns and the waste generated by these trays after the end of their lifecycle are also proving to be major deterrents for businesses in using these trays in their packaging.

Ismail Sutaria
Ismail Sutaria

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2019 to 2023 Rigid Tray Demand Outlook Compared to Demand Forecast from 2024 to 2034

The rigid tray industry size was tipped to be USD 10.4 billion in 2019. Throughout the historical period, the sector grew at a CAGR of 1.5%, reaching a size of USD 11.2 billion in 2023.

The pandemic in this period meant that businesses across domains were shut down. The trade routes were also closed by the governments which created substantial challenges for companies involved in the packaging sector.

The demand for rigid boxes or trays in this period also took a huge blow as war-like situations emerged in the European and Middle East countries. The market only began to pick some pace in the later stages of the pandemic as the pharma industry began to expand exponentially.

With the revival of the food and beverage industry, the demand for these trays also skyrocketed. Online food delivery platforms soon began to gain prominence where these trays are utilized the most.

Even in the consumer goods sector, these trays became an essential part of keeping the contents safe and damage-proof during transit. Driven by the advancements in sustainable packaging and the adoption of smart packaging solutions, the market for these trays is set to surge in the coming years.

Market Concentration

Tier one companies like Amcor Plc, Berry Global Group, Inc., and Sealed Air Corporation are at the forefront of innovation in the rigid tray market. These companies are heavily investing in sustainable packaging solutions.

They are also focusing on integrating advanced manufacturing technologies, such as automation and digital printing, to enhance customization and efficiency. Some of them are also pioneering smart packaging solutions, incorporating technologies like RFID tags and QR codes into their trays for enhanced traceability and consumer interaction.

Tier two companies such as Sonoco Products Company, Huhtamaki Oyj, and RPC Group Plc are also making significant strides in niche areas to differentiate themselves. Companies in this tier are leveraging their extensive expertise in material science to develop lightweight yet durable trays that reduce transportation costs and environmental impact.

They are also focusing on expanding their global footprint to cater to diverse markets. These companies are also concentrating on design innovation, creating aesthetically pleasing and functional tray designs that enhance product appeal on retail shelves.

Tier three companies like Genpak, LLC, Pactiv LLC, and Placon Corporation are focusing on agility and customer-centric approaches to stand out in the market.

Companies are enhancing their product range with microwaveable and oven-safe rigid trays, catering to the growing demand for convenience in food packaging. These companies are also capitalizing on their extensive distribution network to ensure timely delivery and availability of their trays across various regions.

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Comparative View of Adjacent Industries

Apart from the rigid tray market, an in-depth analysis has been done on two other related markets. The growth rates of the cable tray industry and cardboard tray industry along with their trends have been jotted down below Inferring to these analytics, it can be concluded that the market for cardboard trays is set to have a promising future in comparison to the other two in the coming future.

Cardboard Tray Industry Assessment:

The market for eco-friendly paperboard trays is estimated to skyrocket in the forthcoming period since they are produced from plant fiber or wood pulp, both of which decompose easily and pose no threat to the environment.

The demand for these trays is also increasing as they are used for the storage of cold and warm food items because they can be heated in the microwave and can be frozen without any damage to the packing.

Attributes Description
Related Market Cardboard Tray Industry
CAGR (2024 to 2034) 5.4%
Growth Factor Consumers and businesses seeking environmentally friendly packaging solutions
Key Trend Edible paper trays made from sugarcane, bagasse, corn starch, palm leaves, and others are propelling demand for Kraft paper trays.

Cable Tray Industry Assessment:

The demand for cable trays is likely to witness a sluggish CAGR of 2.5% through 2034. The growth of industries such as manufacturing, oil and gas, telecommunications, and IT drives the demand for cable trays to support the installation of electrical cables and wiring in industrial facilities.

Rise of smart building initiatives and the integration of IoT (Internet of Things) devices in commercial and residential buildings also create opportunities for cable tray manufacturers.

Attributes Description
Related Market Cable Tray Industry
CAGR (2024 to 2034) 2.5%
Growth Factor Expansion of the energy sector, including renewable energy projects and power generation facilities
Key Trend Adoption of lightweight and corrosion-resistant materials such as aluminum and fiberglass for improved durability and cost-effectiveness

Country-wise Insights

Growth in e-commerce and the expansion of retail chains in countries like China, India, and Japan are enhancing the accessibility of rigid trays in the Asia Pacific. Besides this, the automation drive in Europe, with the advent of Industry 4.0, has also contributed to the global market positively. In the North American continent, Canada and the United States are some of the leading countries in this industry.

Countries Value CAGR (2024 to 2034)
Canada 0.4%
The United States 0.7%
Germany 0.5%
India 5.1%
Thailand 4%
South Korea 2.9%
China 4.5%
The United Kingdom 0.8%

Government Initiatives to Fuel Market Expansion in India

India’s rigid tray industry is poised to record a CAGR of 5.1% through 2034. The market in India is experiencing rapid growth primarily due to the booming food and beverage industry.

This is primarily due to the increasing urbanization and changing consumer lifestyles among the general populace. The rise in disposable incomes has also led to higher demand for packaged and ready-to-eat meals, necessitating reliable and attractive packaging solutions.

The expansion of the pharmaceutical sector, spurred by the government's initiatives to boost healthcare infrastructure and local manufacturing, is also increasing the need for these trays. Besides this, initiatives like ‘Make in India’ have brought automated production methods to the industrial landscape which has accelerated the manufacturing of these trays in India.

China’s Rigid Tray Market to Benefit from its Robust E-commerce Sector

The sector is set to register a CAGR of 4.5% over the forecast period in China, making it a highly fertile country for the industry. In China, the growth of the market is largely driven by the country's robust e-commerce and online food delivery sectors.

With a massive consumer base and increasing internet penetration, there is a high demand for secure and durable trays to protect products during transit. The government's focus on improving food safety standards is also propelling the use of rigid trays, which offer superior protection and hygiene for food products.

China's strong manufacturing capabilities and advancements in technology are also enabling local companies to produce high-quality rigid trays at competitive prices. This is aiding the market's expansion both domestically and internationally.

Well-established Wine Market Helps the Market Grow in the United States

The United States industry is expected to register a CAGR of 0.7% over the forecast period. Sustainability has received increased importance in the nation as the population becomes more eco-friendly. The extensive growth of online grocery shopping and food delivery services is boosting the demand for robust and reliable packaging solutions.

The rigid tray market in the United States is also expanding due to the increasing preference for convenience and ready-to-eat foods among busy consumers. The stringent regulatory standards for food and pharmaceutical packaging in the United States are driving the adoption of high-quality rigid trays that ensure safety and compliance.

The rising awareness and demand for sustainable packaging solutions are also influencing the market, with consumers and businesses seeking eco-friendly alternatives to traditional plastic trays.

Category-wise Insights

The section below offers in-depth insights into leading segments. The single cavity is the top product in this industry. The commercial sector is where the product‘s use is zapping along.

Businesses are Increasingly Preferring Single Cavity Trays over Multiple Ones

By product, the market is bifurcated into single and multiple cavities. As of 2024, the tin segment holds a market share of 57.2%.

Product Single Cavity
Value Share (2024) 57.2%

Single-cavity rigid trays are in demand due to their simplicity and versatility. They are also easier to produce and offer a straightforward solution for packaging individual items, making them ideal for a wide range of products. The clamor for these trays is also touching the skies as they provide better protection for larger or delicate items compared to multiple cavity trays.

In the industrial world, the need for efficient and secure packaging for components and tools is accelerating their adoption. Their robust construction ensures product safety during transport and storage, reducing damage and loss.

Commercial Use Speeding Along as Businesses Opt for Rigid Trays Retail

Rigid Trays, based on end use, are classified into manufacturing, commercial, institutional, and household. The commercial segment holds a share of 45.9%, as of 2024.

End Use Commercial
Value Share (2024) 45.9%

Rigid trays, in the past few years, have successfully found their place in the commercial sector as they are considered ideal for packaging, transporting, and displaying products securely and attractively.

Food packaging for ready-to-eat meals, pharmaceuticals for safe transport of medical devices, and electronics for protecting gadgets during shipping are also some of the main drivers for their adoption. Rigid trays are also being increasingly used in the commercial sector due to their durability, protection, and versatility.

Industries are generating tremendous demand due to the rise in online food delivery, stringent safety standards, and robust packaging to prevent damage during transit.

Competitive Landscape

The competitive landscape of the rigid tray industry is fragmented in nature. Low barriers to entry and the rising demand for sustainable packaging solutions fuel the competitiveness in the sector. Leading players are constantly introducing new products in innovative packaging to attract consumers.

Several players are also locking horns with big giants by using excessive branding strategies. Companies also use mergers, partnerships, acquisitions, and distribution agreements to stay ahead of the competition.

Some of the most prominent companies in the industry are Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klöckner Pentaplas, and Plastipak Holdings, Inc.

Recent Developments

  • In April 2024, Faerch Group opened its Cirrec plant in Duiven to recycle 60,000 tonnes of PET trays annually, aiming for true circularity in rigid food packaging and encouraging a Net Positive approach to environmental sustainability.
  • In July 2023, Sainsbury's switched from plastic to cardboard for their own-brand steak trays, reducing plastic content by 70% and saving 10 million pieces of plastic annually. This initiative aligns with their environmental commitment to reduce plastic packaging.

Key Players in the Rigid Tray Industry

  • ALPLA-Werke Alwin Lehner GmbH & Co KG
  • Amcor Limited
  • DS Smith Plc
  • Berry Plastics Corporation
  • Klöckner Pentaplas
  • Plastipak Holdings, Inc.
  • Pactiv Evergreen Inc.
  • Sealed Air Corporation.
  • Silgan Holdings, Inc.
  • Sonoco Products Company

Key Segments of the Rigid Tray Industry

The rigid tray market can be segmented based on product type, material, sales channel, and end use.

By Product:

Product segmentation includes single-cavity and multiple-cavity trays.

By Material:

Material segmentation encompasses plastic, paper, and aluminum trays.

By Sales Channel:

Sales channels are categorized into direct sales, distributors, brick-and-mortar stores, and e-retail platforms.

By End-user:

End use segmentation covers manufacturing, commercial, institutional, and household sectors.

By Region:

Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.

Frequently Asked Questions

What is the overall global valuation for the rigid tray industry?

The global valuation is USD 11.5 billion as of 2024.

What does the future of the rigid tray industry look like?

The market is expected to reach USD 14.3 billion by 2034.

What is the growth of the rigid tray industry in terms of CAGR?

The market is rising at a CAGR of 2.2% from 2024 to 2034.

Who are the prominent leaders in the industry?

Amcor Limited, DS Smith Plc, Berry Plastics Corporation, and Klöckner Pentaplas.

What was the rigid tray market value in 2023?

In 2023, the global market was valued at USD 11.2 billion.

Table of Content

1. Executive Summary

2. Industry Introduction, including Taxonomy and Market Definition

3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments

4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections

5. Pricing Analysis

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    6.1. Product Type

    6.2. Size

    6.3. Material Used

    6.4. End-Use Industry

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type

    7.1. Plastic Rigid Trays

    7.2. Metal Rigid Trays

8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Size

    8.1. D1 Range

    8.2. D2 Range

    8.3. D13 Range

    8.4. D15 Range

    8.5. D18 Range

    8.6. Others

9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material Used

    9.1. PP (Polypropylene)

    9.2. PET (Polyethylene Terephthalate)

    9.3. RPET (Recycled Polyethylene Terephthalate)

    9.4. HDPE (High-density Polyethylene)

    9.5. HIPS (High Impact Polystyrene Sheet)

    9.6. PVC (Polyvinyl Chloride)

    9.7. LDPE (Low-density Polyethylene)

    9.8. ABS (Acrylonitrile Butadiene Styrene)

    9.9. Others

10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-Use Industry

    10.1. Pharmaceutical Industry

    10.2. Food & Beverage Industry

    10.3. Electrical and Electronics Industry

    10.4. Consumer Goods Industry

    10.5. Health Care Industry

    10.6. Others

11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    11.1. North America

    11.2. Latin America

    11.3. Western Europe

    11.4. South Asia

    11.5. East Asia

    11.6. Eastern Europe

    11.7. Middle East & Africa

12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

15. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

18. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

19. Sales Forecast 2024 to 2034 by Product Type, Size, Material Used, and End-Use Industry for 30 Countries

20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard

21. Company Profile

    21.1. Klockner Pentaplast

    21.2. ALPLA

    21.3. Amcor Limited

    21.4. DS Smith Plc

    21.5. Berry Plastics Corporation

    21.6. Plastipak Holdings, Inc.

    21.7. Pactiv Evergreen Inc.

    21.8. Sealed Air Corporation.

    21.9. Silgan Holdings, Inc.

    21.10. Sonoco Products Company

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