Foam Trays Global Market Report 2024

Foam trays serve as convenient containers for restaurant takeaway food, leveraging their effective thermal insulation properties to maintain the original temperature of the food, be it hot or cold. They are widely used in the food packaging industry to prevent leakage of liquids into packaged food items and beverages.

In industrial refrigeration systems, key components include the compressor, condenser, evaporator, control systems, vessels, pumps, valves, and auxiliary equipment. The condenser plays a crucial role by facilitating the condensation of high-pressure and high-temperature refrigerant vapor, effectively releasing heat. These systems utilize various refrigerant types like ammonia, carbon dioxide, hydrofluorocarbons (HFCs), among others. They find application across diverse sectors such as preserving fresh fruits and vegetables, storing meat, poultry, and fish, handling dairy and ice cream products, in beverage production, chemicals, pharmaceuticals, and various other industrial applications.

The foam trays market research report is one of a series of new reports that provides foam trays market statistics, including foam trays industry global market size, regional shares, competitors with a foam trays market share, detailed foam trays market segments, market trends and opportunities, and any further data you may need to thrive in the foam trays industry. This foam trays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The foam trays market size has grown strongly in recent years. It will grow from $2.56 billion in 2023 to $2.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed during the historic period was primarily driven by increased demand in food packaging, expansion of retail and supermarket chains, the adoption of lightweight packaging solutions, the need for effective insulation and protection, and the cost-efficiency offered by these packaging solutions.

The foam trays market size is expected to see strong growth in the next few years. It will grow to $3.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. Anticipated growth in the forecast period is driven by the expansion of e-commerce and food delivery services, a heightened focus on food safety and regulatory compliance, the increasing popularity of ready-to-eat meals and convenience foods, the emphasis on customization and branding, as well as the rapid development of emerging markets and urbanization trends. Key trends expected during this period involve technological advancements, the proliferation of online food delivery and takeout services, innovative advancements in material development for packaging, stringent adherence to food safety protocols and packaging regulations, and the exploration of alternative packaging solutions.

The foam trays market is anticipated to witness growth due to the escalating concerns about food safety. Food safety encompasses practices aimed at preventing foodborne illnesses and injuries during food preparation, handling, and storage. Foam trays used in foodservice packaging are known for their insulation properties, prolonged food freshness, and cost-effectiveness compared to other alternatives. In June 2022, the UK Research and Innovation reported over 2.4 million instances of foodborne illnesses annually in the UK, emphasizing the increasing importance of food safety. Consequently, the rise in food safety concerns is a driving factor for the growth of the foam trays market.

The growth of the foam trays market is expected to be fueled by the surge in e-commerce activities. E-commerce, involving the online buying and selling of goods and services, has become a prominent platform for foam tray manufacturers to reach a broader, global customer base. The online marketplace provides an avenue for showcasing products to a diverse audience, including businesses, retailers, and consumers. According to the United States Census Bureau in August 2023, e-commerce sales for the second quarter increased by 7.5%, contributing to 15.4% of all sales. This growth in e-commerce activities is a significant driver for the foam trays market.

A notable trend in the foam tray market is the emphasis on product innovations. Leading companies are focusing on developing innovative foam trays featuring characteristics such as bio-based materials, durability, and lightweight design to maintain their competitive position. For instance, in January 2022, TekniPlex, a US-based manufacturer of containers and packaging products, introduced foam polypropylene processor trays designed for fresh food items like meat, poultry, pork, fruits, and vegetables. This innovative material is known for being long-lasting, lightweight, heat-resistant, and FDA-approved for direct food contact. Importantly, foam polypropylene serves as a drop-in replacement for common foam polystyrene trays, eliminating the need for businesses to invest in additional retooling of packing equipment, thereby enhancing efficiency and cost-effectiveness.

Major players in the foam trays market are actively introducing innovative products like Foam Polypropylene Food Trays to enhance their profitability. Foam polypropylene food trays (FPP) are specialized containers designed for the packaging of fresh food items, including beef, chicken, pork, fruits, and vegetables. In February 2022, Tekni-Plex Inc., a US-based company renowned for its intellectual curiosity and materials science expertise, launched Foam Polypropylene Food Trays. These trays are utilized for packing a diverse range of fresh food items, providing a safe and sanitary means of transportation and display. The FPP trays are positioned as a direct replacement for traditional foam polystyrene trays, offering improved sustainability and recyclability. Notably, they seamlessly integrate into existing packaging processes without requiring equipment retooling.

In a strategic move in September 2021, Tekni-Plex, the US-based manufacturer of packaging and tubing materials, successfully acquired Keyes Packaging Group from Arbor Investments for an undisclosed amount. This strategic acquisition significantly expands Tekni-Plex's flat portfolio, delivering enhanced benefits to customers in the food and beverage industry. KEYES Packaging Group, the US-based manufacturer of foam trays, brings valuable expertise and product offerings to Tekni-Plex, aligning with the company's commitment to providing innovative solutions in the foam trays market. This acquisition strengthens Tekni-Plex's market position and broadens its capabilities within the industry.

Major companies operating in the foam trays market include Sealed Air Corporation, Pactiv LLC, Anchor Packaging LLC, Placon Corporation Inc., D&W Fine Pack LLC, Coveris Holdings SA, Genpak LLC, Groupe Guillin SA, Berry Global Inc., Ecopax LLC, Dart Container Corporation, Reynolds Group Holdings Limited, Sirap Group, Novipax Inc., CKF Inc., Falcon Pack Industry LLC, Huhtamaki Oyj, Sabert Corporation, Novolex Holdings Inc., Inline Plastics Corp., Sonoco Products Company, Fabri-Kal Corporation, WinCup Inc., Cascades Inc., New WinCup Holdings Inc., PinnPACK Packaging LLC, Dolco Packaging Crop., Fagerdala USA Inc., Foam Products Corporation, Premier Protective Packaging

North America was the largest region in the foam trays market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the foam trays market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the foam trays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The foam trays market consists of sales of foam tray products such as polyurethane, polyethylene and polypropylene. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.