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A latest report published by Fact.MR takes into account the plastic tray market from a global as well as local viewpoint.
The plastic tray market size was valued at US$ 2,000 million in 2018.
Further, the plastic tray market is expected to grow at a CAGR of 3.6% over the forecast period 2018-2027.
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.