The Asia Pacific Rigid Trays Packaging Market is projected to witness market growth of 5.6% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Rigid Trays Packaging Market, by country in 2023, and is projected to continue to be a dominant market till 2031; thereby, achieving a market value of $15.81 billion by 2031. The Japan market is registering a CAGR of 5.1% during 2024-2031. Additionally, the India market would showcase a CAGR of 6.3% during 2024-2031.
The quality and safety of food are becoming increasingly important as the food and beverage industry expands in emerging markets. Governments and regulatory bodies are implementing stricter food safety standards, necessitating high-quality packaging materials. Rigid trays are well-suited to meet these regulatory requirements with robust barrier properties. For instance, the European Food Safety Authority (EFSA) and the U.S. Food and Drug Administration (FDA) have rigorous regulations regarding food packaging materials to prevent contamination or degradation of the food. Rigid trays, often made from food-grade plastics or other approved materials, comply with these regulations, making them a preferred choice for manufacturers.
There is a significant aspect that is contributing to this tendency, and that is the increased awareness of the environmental effects that result from plastic waste. According to a report published by the Ellen MacArthur Foundation, the oceans may contain more plastic than fish by 2050 if the current levels of consumption and disposal persist. Such alarming statistics have spurred consumers to rethink their packaging choices, favoring options that contribute less to environmental degradation. This has led to a growing demand for recyclable and biodegradable packaging materials that can mitigate the adverse effects of plastic pollution.
In Japan, the aging population and increasing demand for convenience foods significantly influence the demand for rigid tray packaging. According to the Statistics Bureau of Japan, more than 28% of the population is 65 and older, making Japan one of the most aged societies. This demographic trend increases the demand for easy-to-use and reliable packaging solutions, particularly for pre-packaged meals and healthcare products. Rigid trays provide the necessary durability and protection for these products, catering to the needs of elderly consumers and the convenience food sector. Therefore, all these elements will aid in the expansion of the market.
Based on Application, the market is segmented into Food & Beverage, Pharmaceutical, and Others. Based on Material, the market is segmented into Plastic, Paperboard, Metal, and Glass. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Rigid Trays Packaging Market, by country in 2023, and is projected to continue to be a dominant market till 2031; thereby, achieving a market value of $15.81 billion by 2031. The Japan market is registering a CAGR of 5.1% during 2024-2031. Additionally, the India market would showcase a CAGR of 6.3% during 2024-2031.
The quality and safety of food are becoming increasingly important as the food and beverage industry expands in emerging markets. Governments and regulatory bodies are implementing stricter food safety standards, necessitating high-quality packaging materials. Rigid trays are well-suited to meet these regulatory requirements with robust barrier properties. For instance, the European Food Safety Authority (EFSA) and the U.S. Food and Drug Administration (FDA) have rigorous regulations regarding food packaging materials to prevent contamination or degradation of the food. Rigid trays, often made from food-grade plastics or other approved materials, comply with these regulations, making them a preferred choice for manufacturers.
There is a significant aspect that is contributing to this tendency, and that is the increased awareness of the environmental effects that result from plastic waste. According to a report published by the Ellen MacArthur Foundation, the oceans may contain more plastic than fish by 2050 if the current levels of consumption and disposal persist. Such alarming statistics have spurred consumers to rethink their packaging choices, favoring options that contribute less to environmental degradation. This has led to a growing demand for recyclable and biodegradable packaging materials that can mitigate the adverse effects of plastic pollution.
In Japan, the aging population and increasing demand for convenience foods significantly influence the demand for rigid tray packaging. According to the Statistics Bureau of Japan, more than 28% of the population is 65 and older, making Japan one of the most aged societies. This demographic trend increases the demand for easy-to-use and reliable packaging solutions, particularly for pre-packaged meals and healthcare products. Rigid trays provide the necessary durability and protection for these products, catering to the needs of elderly consumers and the convenience food sector. Therefore, all these elements will aid in the expansion of the market.
Based on Application, the market is segmented into Food & Beverage, Pharmaceutical, and Others. Based on Material, the market is segmented into Plastic, Paperboard, Metal, and Glass. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Placon Corporation
- Tekni-Plex Inc.
- Berry Global Group
- Sonoco Products Company
- Amcor Plc
- DS Smith Plc
- Genpak, LLC (Great Pacific Enterprises, Inc.)
- Dart Container Corporation
- Anchor Packaging LLC
- Winpak Ltd. (Wihuri International Oy)
Market Report Segmentation
By Application
- Food & Beverage
- Pharmaceutical
- Others
By Material
- Plastic
- Paperboard
- Metal
- Glass
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Rigid Trays Packaging Market, by Application
Chapter 5. Asia Pacific Rigid Trays Packaging Market, by Material
Chapter 6. Asia Pacific Rigid Trays Packaging Market, by Country
Chapter 7. Company Profiles
Companies Mentioned
- Placon Corporation
- Tekni-Plex Inc.
- Berry Global Group
- Sonoco Products Company
- Amcor Plc
- DS Smith Plc
- Genpak, LLC (Great Pacific Enterprises, Inc.)
- Dart Container Corporation
- Anchor Packaging LLC
- Winpak Ltd. (Wihuri International Oy)
Methodology
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