Paper and Paperboard Trays Market Size, Trends and Growth Analysis by 2027

The paper and paperboard trays market is anticipated to grow significantly, reaching an estimated US$ 7,319.26 million by 2028, up from US$ 4,942.09 million in 2021. This growth represents a compound annual growth rate (CAGR) of 5.8% from 2021 to 2028.

These trays serve as essential packaging solutions, primarily utilized for fresh produce such as fruits and vegetables, as well as for eggs, salads, dried fruits, and various food and beverage items. Additionally, they are increasingly employed in the packaging of consumer electronics, including mobile devices, laptops, earphones, printers, and personal care products. Healthcare tools and consumer goods like glassware and jewelry also benefit from this type of packaging. The trays are manufactured from either virgin or recycled fibers, providing necessary cushioning to protect the contents during transportation.

In terms of materials, the global market for paper and paperboard trays is categorized into two segments: virgin fiber and recycled fiber. In 2020, the virgin fiber segment dominated the market. Virgin fiber is sourced from the pulp of fresh wood, resulting in paper products that do not contain recycled materials. This type of fiber is prevalent in the packaging sector for producing paper and paperboard items. Trays made from virgin fibers are particularly favored for food packaging, as they help maintain food safety by preventing issues related to taint, odor, and material migration, while also complying with food safety regulations. Furthermore, virgin fibers are known for their high strength and durability, making them less prone to breakage.

Regionally, the paper and paperboard trays market is divided into several areas: North America, Europe, Asia Pacific, South and Central America, and the Middle East & Africa. As of 2020, the Asia Pacific region accounted for the largest share of revenue in the global market. The growth of the paper and paperboard packaging sector in this region can be attributed to the expanding packaging industry, the growth of the food retail and foodservice sectors, and an increasing consumer awareness regarding sustainable packaging options. The foodservice industry in Asia Pacific is thriving, driven by tourism growth, improved consumer lifestyles, and rising disposable incomes. Consequently, manufacturers of paper and paperboard trays are focusing on expanding their operations in this region, attracted by the potential customer base, cost-effective infrastructure and labor, abundant resources, and favorable trade policies. This trend is expected to create lucrative opportunities for manufacturers in the near future.

Key players in the global paper and paperboard trays market include Huhtamaki, Mondi, Pactiv Evergreen Inc., UFP Technologies, Inc., Hartmann, Orcon Industries, International Paper, Athena Superpack Private Limited, PaperTech, and SOLUT!.

The overall market size for paper and paperboard trays has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the paper and paperboard trays market.