Paperboard Trays Market Analysis & Evolving Opportunities Studied for the Period until 2027

The Paperboard Trays Market is likely to grow at a healthy 3.9% value CAGR throughout 2027, according to a latest Fact.MR study. The momentum in the paper trays market can be attributed to growing focus on sustainability, which includes reducing packaging waste and adopting recyclable packaging materials.

Growing consumer preference toward greener packaging solutions is driving heavy investments in the paper trays market. Anticipating the lucrativeness of the paper trays market and future growth opportunities, manufacturers are introducing a wide design range of paper trays, which is proving to be a winning product differentiation strategy for paper packaging businesses.

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Two main participants in the tier 2 category involved in the manufacturing of paper trays collectively account for a significant share of the overall paper trays market. Companies such as Stora Enso Oyj, and International Paper account for over 25 percent revenue share of the paper trays market with a significant revenue generation from European countries and North America region respectively.

Companies in the paper trays market are also initiating collaborations with local players to enhance their paper tray product penetration. For instance, Graphic Packaging combined with International Paper’s consumer packaging business in North America, with the latter owning 20.5% share and former owning 79.5% share of the combined company. This strategic amalgamation can serve as a huge platform for Graphic Packaging in the paper trays space, making it one of the leading companies in paper-based packaging sector.

The Fact.MR study finds that Tier I companies in the Paperboard Trays Market are focusing on consolidating their position in key markets. For example, the Mondi Group recently acquired pulp and paper manufacturers and suppliers across the world, including Powerflute Group Holdings Oy in Finland for approximately €365 million, and National Company for Paper Products and Import & Export S.A.E ("NPP") in Egypt for €24 million. The company also announced that it has entered the Polish market by expanding its heavy-duty corrugated capabilities, which can help the company to remain competitive in the global market for paper packaging products, including paper trays.

According to Fact.MR, paper trays manufacturers are also focusing on penetrating the lucrative Asia Pacific market. For instance, Huhtamaki Oyj recently acquired packaging companies in Asia Pacific, including International Paper's foodservice packaging operations in China, Ajanta Packaging's business in India and Tailored Packaging – a foodservice packaging distributor in Australia. With the market leaders establishing a stronger foothold in emerging economies, the paper trays markets in developing nations is expected to witness positive growth in the upcoming years.

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