Rising need for food packaging type that prevents the oxygenation and thus degradation of the packaged food has led to high demand for high barrier food trays. Barrier packaging types are replacing the conventional forms of packaging catering to the needs of the end user. High barrier food trays market is also benefitting from the increasing market penetration of modern retail formats.
Grocery stores/hypermarkets are winding up particularly supported because of their wide product range and different choices of premium brands, normally inaccessible in different sorts of outlets. There likewise has been increase in the number of rebate stores and private-label items, which empower those on low disposable income to buy packaged food and drink at more moderate costs which is directly fuelling the need of the global high barrier food trays market.
The growth of the global high barrier food trays market is expected to be driven by the soaring demand for packaged food. This growth of the packaged food can be mainly attributed to growing consumption of dairy products and ready-to-eat meals. Additionally, rising need for packaging that aids in increasing the shelf life of the packaged product is also expected to fuel the demand of the global high barrier food trays market.
The introduction of new packaging formats in the market is expected to provide stiff competition to high barrier food trays, thus hampering the growth of the global market. Since, high barrier food trays are made up of multilayer films, their recycling and disposal poses serious risks to the growth of the global high barrier food trays market. Manufacturers are also focusing on more sustainable forms of packaging by creating renewable and biodegradable cellulose-based barrier films which is expected to open up new market avenues of growth for the global high barrier food trays market.
On the basis of geography, the global high barrier food trays market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is currently leading the global high barrier food trays market due to an increasing packaged food market as well as the rise in the modern retail formats. North America is expected to follow the Asia Pacific region in terms of market growth. Europe high barrier food trays market is anticipated to witness moderate growth due to down turns in the economy in certain regions and comparatively less developed retail market.
Some of the key players operating in the global high barrier food trays market are Winpak Ltd., Sealed Air Corporation, Silgan Plastic Food Containers, Coextruded Plastic Technologies, Inc., Ningbo Sunpack Plastic Co. Ltd., LD Packaging, and Mylan group.