Market Overview:
The global vacuum formed trays market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for vacuum formed trays from medical, automotive, consumer goods and electronics industries. In terms of type, recyclable trays are expected to dominate the market during the forecast period owing to their eco-friendly nature and ability to be recycled multiple times. However, non-recyclable trays are also expected to witness significant growth due in part due their low cost as compared with recyclable counterparts.
Product Definition:
A vacuum formed tray is a plastic tray that has been heated and then put into a vacuum chamber. The air is removed from the chamber and the plastic tray cools and takes on the shape of the chamber. Vacuum formed trays are used to package food, medical supplies, and other items.
Recyclable Trays:
Recyclable trays are made from materials that can be recycled such as paper, plastic, and glass. These products have a high demand in the packaging industry owing to their environment-friendly nature. The global recyclable trays market is expected to witness significant growth over the forecast period on account of rising consumer awareness regarding sustainability and increasing government regulations pertaining to it.
Non-Recyclable Trays:
Non-recyclable trays are used in the manufacturing of vacuum formed trays. Vacuum formed trays are widely used by food and drug stores for packaging various products such as chocolates, coffee mugs, tins and metal cans among others. The demand for these non-recyclable products is expected to grow at a significant pace over the forecast period owing to their cost effectiveness coupled with growing consumer awareness regarding environment protection.
Application Insights:
The global demand for vacuum formed trays is expected to be driven by the growing electronics industry. The medical industry accounted for a significant market share in 2017 owing to the high usage rate of disposable products in this sector. Vacuum formed trays are used in hospitals, diagnostic centers and clinics on a large scale due to their lightweight property and low maintenance cost as compared to traditional metal or plastic trays.
The automotive industry is also anticipated to witness considerable growth over the forecast period owing to increasing production of electric vehicles across the globe. Electric vehicles require lightweight material during manufacturing process as they reduce overall vehicle weight for improved performance and efficiency during travel. Thus, vacuum formed trays are widely used by automakers across different regions as it provides excellent fit & finish along with superior durability at an economical price point without compromising on quality or serviceability required from automotive components over long-term useage scenarios.
Consumer goods manufacturers primarily produce electronic devices such as smartphones, laptops, tablets etc.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing disposable income, rising population, and improving standards of living. In addition, rapid industrialization in countries such as China and India are anticipated to fuel the demand for packaged food products that would otherwise require several handling steps resulting in an increased demand for vacuum formed trays.
Europe accounted for a significant share of revenue generated by global vacuum formed trays market owing to factors such as growing automotive industry coupled with stringent regulations regarding vehicular emissions along with growing medical device industry due to rising geriatric population base thereby driving product adoption across numerous end-use industries.
Growth Factors:
- Increasing demand for vacuum formed trays from food and beverage industry as they are hygienic and safe to store food items.
- Rising demand for vacuum formed trays from pharmaceuticals and cosmetics industry as they protect the products from contamination and degradation.
- Growing popularity of ready-to-eat meals, which is driving the demand for vacuum formed trays in food service sector.
- Technological advancements in tray manufacturing process that has resulted in development of innovative designs and shapes of vacuum formed trays, thereby increasing their applications across different industries.
Scope Of The Report
Report Attributes
Report Details
Report Title
Vacuum Formed Trays Market Research Report
By Type
Recyclable Trays, Non-Recyclable Trays
By Application
Medical Industry, Automotive Industry, Consumer Goods Industry, Electronics Industry
By Companies
ABC Packaging, Engineered Components and Packaging, Universal Plastics, Ameripak, Panic Plastics, Tully Products
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Vacuum Formed Trays Market Report Segments:
The global Vacuum Formed Trays market is segmented on the basis of:
Types
Recyclable Trays, Non-Recyclable Trays
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medical Industry, Automotive Industry, Consumer Goods Industry, Electronics Industry
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABC Packaging
- Engineered Components and Packaging
- Universal Plastics
- Ameripak
- Panic Plastics
- Tully Products
Highlights of The Vacuum Formed Trays Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Recyclable Trays
- Non-Recyclable Trays
- By Application:
- Medical Industry
- Automotive Industry
- Consumer Goods Industry
- Electronics Industry
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vacuum Formed Trays Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vacuum formed trays are a type of plastic tray that is made by vacuum forming. Vacuum formed trays are often used to hold food or other items, and they are often designed to be disposable.
Some of the key players operating in the vacuum formed trays market are ABC Packaging, Engineered Components and Packaging, Universal Plastics, Ameripak, Panic Plastics, Tully Products.
The vacuum formed trays market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vacuum Formed Trays Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vacuum Formed Trays Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vacuum Formed Trays Market - Supply Chain
4.5. Global Vacuum Formed Trays Market Forecast
4.5.1. Vacuum Formed Trays Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vacuum Formed Trays Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vacuum Formed Trays Market Absolute $ Opportunity
5. Global Vacuum Formed Trays Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vacuum Formed Trays Market Size and Volume Forecast by Type
5.3.1. Recyclable Trays
5.3.2. Non-Recyclable Trays
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vacuum Formed Trays Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vacuum Formed Trays Market Size and Volume Forecast by Application
6.3.1. Medical Industry
6.3.2. Automotive Industry
6.3.3. Consumer Goods Industry
6.3.4. Electronics Industry
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vacuum Formed Trays Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vacuum Formed Trays Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vacuum Formed Trays Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vacuum Formed Trays Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vacuum Formed Trays Demand Share Forecast, 2019-2026
9. North America Vacuum Formed Trays Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vacuum Formed Trays Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vacuum Formed Trays Market Size and Volume Forecast by Application
9.4.1. Medical Industry
9.4.2. Automotive Industry
9.4.3. Consumer Goods Industry
9.4.4. Electronics Industry
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vacuum Formed Trays Market Size and Volume Forecast by Type
9.7.1. Recyclable Trays
9.7.2. Non-Recyclable Trays
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vacuum Formed Trays Demand Share Forecast, 2019-2026
10. Latin America Vacuum Formed Trays Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vacuum Formed Trays Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vacuum Formed Trays Market Size and Volume Forecast by Application
10.4.1. Medical Industry
10.4.2. Automotive Industry
10.4.3. Consumer Goods Industry
10.4.4. Electronics Industry
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vacuum Formed Trays Market Size and Volume Forecast by Type
10.7.1. Recyclable Trays
10.7.2. Non-Recyclable Trays
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vacuum Formed Trays Demand Share Forecast, 2019-2026
11. Europe Vacuum Formed Trays Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vacuum Formed Trays Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vacuum Formed Trays Market Size and Volume Forecast by Application
11.4.1. Medical Industry
11.4.2. Automotive Industry
11.4.3. Consumer Goods Industry
11.4.4. Electronics Industry
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vacuum Formed Trays Market Size and Volume Forecast by Type
11.7.1. Recyclable Trays
11.7.2. Non-Recyclable Trays
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vacuum Formed Trays Demand Share, 2019-2026
12. Asia Pacific Vacuum Formed Trays Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vacuum Formed Trays Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vacuum Formed Trays Market Size and Volume Forecast by Application
12.4.1. Medical Industry
12.4.2. Automotive Industry
12.4.3. Consumer Goods Industry
12.4.4. Electronics Industry
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vacuum Formed Trays Market Size and Volume Forecast by Type
12.7.1. Recyclable Trays
12.7.2. Non-Recyclable Trays
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vacuum Formed Trays Demand Share, 2019-2026
13. Middle East & Africa Vacuum Formed Trays Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vacuum Formed Trays Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vacuum Formed Trays Market Size and Volume Forecast by Application
13.4.1. Medical Industry
13.4.2. Automotive Industry
13.4.3. Consumer Goods Industry
13.4.4. Electronics Industry
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vacuum Formed Trays Market Size and Volume Forecast by Type
13.7.1. Recyclable Trays
13.7.2. Non-Recyclable Trays
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vacuum Formed Trays Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vacuum Formed Trays Market: Market Share Analysis
14.2. Vacuum Formed Trays Distributors and Customers
14.3. Vacuum Formed Trays Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABC Packaging
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Engineered Components and Packaging
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Universal Plastics
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Ameripak
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Panic Plastics
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Tully Products
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
