Ready Meal Trays Market 2020: Drivers and Restraints, Opportunities and Challenges, Sales and Revenue and Forecast Period 2020-2027

Introduction to the Ready Meal Trays Market

Ready meal trays are containers manufactured under strict food quality and safety guidelines. Manufacturers of ready meal trays focus on offering a variety of designs to cater a wide range of eating requirements. The global ready meal trays market is expected to benefit from growing consumption of case ready meals, especially in developed countries. Change in food consumption habits have led to wider acceptance for ready meals, driven by increasing preference for convenience. Ready meal trays are frequently used in foodservice and catering (incl. airline catering). Growth in consumption of ready meals has led to increased competition among manufacturers of ready meal trays. Manufacturers of ready meal trays mostly resort to design-level innovation to differentiate their products. Overall, the global ready meal trays market is expected to have a positive outlook, during the forecast period.

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The Dynamics of Ready Meal Trays Market

The global ready meal trays market is expected to be driven mainly by increasing consumption of ready meals in Europe and the Asia Pacific. The North America ready meal trays market is currently leading in terms of revenue share. Increasing number of single person households has led to a significant change in food consumption patterns, wherein more consumers are up for ready meals and on-the-go food. According to independent studies carried out recently, more than 7 out of 10 consumers living in the U.K. eat ready meals. The trend is expected to continue on a much larger geographical scale as consumers in developing countries also catch on the habit. Manufacturers of ready meal trays are expected to focus more on increasing regional presence and strengthen their foothold over existing base. The barriers to entry to the global ready meal trays market remain low, with several Tier 3 players being added to the mix every year. Bargaining power of buyers is expected to remain high, with most of the Tier 3 players based out of China. Competition is expected to intensify further as Chinese manufacturers of ready meal trays sell their products at lower prices. In terms of product innovation, manufacturers are also expected to look for the use of more sustainable materials in their products.

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Ready Meal Trays Market: Regional Outlook

The North America ready meal trays market is currently one of the leading regions, other than the ready meal trays markets in Europe and the Asia Pacific. Increasing penetration of food retail services in developing countries such as India and Brazil are expected to have significant influence on the global market. In India, the consumption of ready meals is expected to witness double-digit growth in the coming years, paving way for increased demand for ready meal trays. This is attributed to increase penetration of food retail outlets, and an overall growth of the foodservice sector. The same is true for other developing countries in the Asia Pacific region. Therefore, the APAC ready meal trays market is expected to be in the leading role in terms of revenue growth.

Ready Meal Trays Market: Segmentation

The defined scope for the ready meal trays market is as below –

By moulding technology, the global ready meal trays market is segmented as –

Injection moulding
Thermoformed moulding

By product type, the global ready meal trays market is segmented as –

With cavity
Without cavity

By end use, the global ready meal trays market is segmented as –

Institutional
- Educational (Schools, colleges, & others)
- Public (Govt. offices & public places)
- Private
Commercial
- Quick Service Restaurants (QSRs)
- Hotels
- Cafes
- Commercial transport (Airline, railways, etc.)

Ready Meal Trays Market: Key Players

Some of the key players operating in the global ready meal trays market include –

Quinn Packaging
Genpak, LLC
Faerch A/S
Sealed Air Corporation
Sonoco Products Company
Sabert Corporation
Bemis Company, Inc.
Portage Plastics Corporation
Plastic Package, Inc.
PinnPACK Packaging LLC
MCP Performance Plastic Ltd

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis

The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)

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