PUBLISHER: The Business Research Company | PRODUCT CODE: 1648852
PUBLISHER: The Business Research Company | PRODUCT CODE: 1648852
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 from The Business Research Company 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 $2.72 billion in 2024 to $2.89 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to food packaging demand, retail and supermarket chains, lightweight packaging, insulation and protection, cost-efficiency.
The foam trays market size is expected to see strong growth in the next few years. It will grow to $3.89 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to e-commerce and food delivery services, food safety and regulations, ready-to-eat meals and convenience foods, customization and branding, emerging markets and urbanization. Major trends in the forecast period include technological advancements, online food delivery and takeout, innovative material development, food safety and packaging regulations, 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 e-commerce is anticipated to drive the expansion of the foam trays market in the coming years. E-commerce, which stands for electronic commerce, involves the buying and selling of goods and services online. This encompasses a variety of online activities, including online shopping, electronic payments, online auctions, and internet banking. E-commerce offers foam tray manufacturers a platform to access a larger and more global customer base, allowing them to showcase their products to a wide online audience, comprising businesses, retailers, and consumers. For example, in August 2023, the United States Census Bureau, a government agency in the US, reported that e-commerce estimates for the second quarter of 2023 increased by 7.5% (or 1.4%) compared to the second quarter of 2022, while overall retail sales grew by 0.6% (or 0.4%). Additionally, 15.4% of all sales in the second quarter of 2023 were made through online stores. Consequently, the rising e-commerce trend is fueling the growth of 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 May 2024, Breck Partners, LLC, a US-based investment firm, acquired NPX One, LLC for an undisclosed amount. The purpose of this acquisition is to utilize Breck Partners' investment to foster growth and innovation at NPX One within the food packaging sector. NPX One, LLC is a US-based company that specializes in manufacturing foam trays for fresh protein products.
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 2024. 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.
Foam Trays Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on foam trays market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for foam trays ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The foam trays market global report from the Business Research Company answers all these questions and many more.
The 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.