Rigid Trays Packaging Market Report 2024

This Rigid Trays Packaging market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The rigid trays packaging market size has grown strongly in recent years. It will grow from $290.94 billion in 2023 to $308.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period can be attributed to several factors such as expansion in the retail sector, increased awareness of food safety, growth in the food and beverage sector, heightened environmental concerns, and a rise in regulations and standards.

The rigid trays packaging market size is expected to see strong growth in the next few years. It will grow to $392.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth during the forecast period can be attributed to several factors such as rising consumer preference for sustainable packaging solutions, growth in the e-commerce sector, increasing demand for convenience packaging, urbanization and lifestyle changes, and expanding globalization and trade. Key trends expected during this period include the adoption of smart packaging, customized and personalized packaging options, advancements in premium packaging, improvements in barrier technologies, and the implementation of automated manufacturing processes.

The expected growth of the rigid tray packaging market is driven by the surge in e-commerce. E-commerce, which involves buying and selling goods and services over the Internet, is experiencing rapid growth due to increased internet accessibility, technological advancements, and a growing preference for online shopping due to its convenience and broader product selection. Rigid tray packaging is used in e-commerce to securely protect and organize products during transit, ensuring they arrive undamaged and in optimal condition. For example, in May 2024, the United States Census Bureau reported that U.S. retail e-commerce sales reached $289.2 billion in the first quarter of 2024, a 2.1% increase from the previous quarter. Thus, the growth in e-commerce is driving the expansion of the rigid tray packaging market.

Leading companies in the rigid tray packaging market are focusing on developing innovative solutions such as compostable trays to provide sustainable alternatives to traditional foam trays. Compostable trays are environmentally friendly containers designed to decompose into organic material through composting processes. For instance, in April 2024, Sabert Corporation, a US-based food packaging company, introduced compostable trays made from renewable and plant-based materials. These trays are designed to be sturdy and durable, offering heat tolerance and moisture resistance, and meet strict compostability standards to ensure they do not leave behind toxic residues.

In October 2024, ProMach, a US-based machinery manufacturing company, acquired HMC Products for an undisclosed sum. This acquisition allows ProMach to capitalize on HMC's expertise and customer service capabilities, enhancing lead times and expanding its packaging machinery portfolio. HMC Products, also based in the US, specializes in the manufacturing, refurbishment, and servicing of horizontal form fill seal (HFFS) machines.

Major companies operating in the rigid trays packaging market are WestRock Company, Ball Corporation, Amcor plc, Berry Global Inc., Smurfit Kappa Group, DS Smith Plc, Graphic Packaging International LLC, Sonoco Products Company, Silgan Holdings Inc., Pactiv Evergeen Inc., Sealed Air Corporation, AptarGroup Inc., Dart Container Corporation, Multivac Group, Klöckner Pentaplast, Printpack Holdings Inc., Winpak Portion Packaging Ltd., Coveris Holdings S.A., Genpak, CKS Packaging Inc., Greiner Packaging International GmbH, D&W Fine Pack, Anchor Packaging LLC, Placon Corporation.

Asia-Pacific was the largest region in the rigid trays packaging market in 2023. The regions covered in the rigid trays packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Rigid tray packaging is a type of packaging constructed from durable materials such as plastic, metal, or cardboard, designed to securely hold and protect products during storage and transportation. The rigid construction maintains its shape and offers strong support, often incorporating compartments or inserts to keep items organized and prevent movement.

The primary types of rigid tray packaging are plastic rigid tray packaging and metal rigid tray packaging. Plastic rigid tray packaging refers to containers made from different types of plastic, used to hold and transport products. The materials used include plastic, glass, metal, and paperboard, and they are applied in various sectors such as pharmaceuticals, food and beverage, and others.

The rigid trays packaging market research report is one of a series of new reports that provides rigid trays packaging market statistics, including rigid trays packaging industry global market size, regional shares, competitors with a rigid trays packaging market share, detailed rigid trays packaging market segments, market trends and opportunities, and any further data you may need to thrive in the rigid trays packaging industry. This rigid trays packaging 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 rigid trays packaging market consists of sales of durable, pre-formed trays made from materials such as retail trays, custom trays, and industrial trays. 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.

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