Brooklyn, New York, USA, 2021-Apr-27 — /Meridian Market Consultants/ — A fresh report has been published and added, recently, in the massive database of Meridian Market Consultants (MMC), which is developed using verified research methodologies and proven analytical approaches. The report determines diverse eminent factors and trends encouraging the market growth of the Global Plastic Trays Market. The research study is entitled “Plastic Trays Market: Opportunity Analysis and Future Assessment 2020-2028”, which profoundly examines the global market evolution, along with the in-depth knowledge of the future market potential and the statistics implicated in the development of the respective market during the forecast period of 2020-2028. For the avail and interest of the readers, the report arrives at the conclusion with a special emphasis on the comprehensive profiling of the leading players in the Global Plastic Trays Market.

The global Plastic Trays Market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of 3.3%.

Plastic trays are used to store various products and keep them clean. Plastic trays also serve its utility in the packaging of several different products such as agriculture, food, pharmaceutical, electronic accessories, and automotive, and many more.

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Plastic trays are customizable, and therefore are available in several different sizes and shapes according to the purpose they serve. Plastic trays consist of numerous advantages such as durable, lightweight, rigid, water and chemical resistant, recyclable and washable, which makes it more preferable over paperboard trays or the regular trays. Owing to this, the plastic trays witness huge demand in various industries, thus propelling the growth of the global plastic trays market.

Along with that, the plastic trays are 100% reusable and recyclable, which makes it more environment-friendly, and therefore, adopted by most of the industries across the world.

Plastic Trays Market Dynamics

The plastic trays are altogether a cost-effective and a lot better alternative in comparison to other alternatives owing to their numerous beneficial features, which stimulates its demand tremendously in the global market. Attributing to which, the plastic trays market is projected to grow significantly in the near future.

Along with that, the key manufacturing companies of the global market are aiming their focus on creating more innovative and advanced products as well as developing more cost-effective products, thereby expected to propel the growth of the global plastic trays market in the forthcoming years.

In addition to that, much conventional aluminium, paperboard, and styrofoam material trays are less preferred by various industries across the world as it is complicated to dispose of or recycle the regular trays, thereby compelling them to switch to plastic trays which is reusable and recyclable and thus, environmentally safe. Owing to this, the plastic trays market is estimated to observe a breakthrough during the forecast period.

Furthermore, the rising trend of plastic packaging in various industries, specifically the healthcare and medical industry that is intended to protect the product from the external environment is also expected to give a positive boost to the growth of the plastic trays market in the coming years.

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Plastic Trays Market Segmentation

The plastic trays market is segmented on the basis of product type, end user, and by region.

On the basis of product type, the plastic trays market is segmented into

•    Shipping Trays

•    ESD Trays

•    Plastic Bins & Insert Trays

•    Large Plastic Trays

•    Hinged Plastic Boxes

While on the basis of end-user the market can be segmented into

•    Hospitals

•    Clinics

•    Academics

•    Outpatient Centres

On the basis of Region, the plastic trays market is segmented into

•    North America (U.S., Canada)

•    Latin America (Brazil, Mexico, Argentina, Rest of Latin America)

•    Europe (U.K., Germany, Italy, France, Spain, Russia, Poland, BENELUX, NORDIC)

•    Asia Pacific (China, India, Japan, Australia and New Zealand, South Korea, ASEAN, Rest of Asia)

•    Middle East (GCC Countries, Israel, Oman, Rest of Middle East)

•    Africa (South Africa, Egypt, North Africa, Rest of Africa)

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Plastic Trays Market Key Players

Some of the key participating players in the Plastic Trays market are Tetra Pak International S.A., The Dow Chemical Company, Mondi Plc, International Paper, and Smurfit Kappa.

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