The Asia Pacific Rigid Trays Packaging Market would 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 would continue to be a dominant market till 2031; thereby, achieving a market value of $15,816.5 Million 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.
Free Valuable Insights: The Global Rigid Trays Packaging Market is Predict to reach USD 126.7 Billion by 2031, at a CAGR of 5.2%
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.
By Application
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