According to a new report, published by KBV research, The Global Rigid Trays Packaging Market size is expected to reach $126.7 billion by 2031, rising at a market growth of 5.2% CAGR during the forecast period.
The Food & Beverage segment is leading the Global Rigid Trays Packaging Market, by Application in 2023; thereby, achieving a market value of $75.2 billion by 2031. Consumer demand for convenience and ready-to-eat meals has increased the need for durable and reliable packaging solutions. Furthermore, the expansion of this sector has been facilitated by the increase in disposable incomes and the evolution of lifestyles. The emphasis on maintaining food quality, safety, and extended shelf life has further propelled the demand for rigid trays in the food & beverage industry.
The Paperboard segment anticipates a CAGR of 5.5% during (2024 - 2031). Paperboard trays are in high demand due to the growing concern for environmentally favorable and sustainable packaging solutions. Materials that are biodegradable and recyclable are increasingly being preferred by consumers and manufacturers, who are becoming more environmentally conscious. Paperboard trays are valued for their rigidity, printability, and customization ability, making them a popular choice for packaging in various industries, particularly in the food & beverage sector.
Full Report: https://www.kbvresearch.com/rigid-trays-packaging-market/
The Asia Pacific region dominated the Global Rigid Trays Packaging Market, by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $55.5 billion by 2031. The North America region is experiencing a CAGR of 5.1% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 4.1% during (2024 - 2031).
By Application
By Material
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