Global Thermoformed Shallow Trays Market Anticipated to Progress at a Healthy CAGR of 5.3% during 2016-2024

In the past few years, thermoformed shallow trays have emerged as a key packaging solution under the thermoformed packaging product portfolio. With widespread applications across various applications such as food, pharmaceutical, cosmetic and personal care, industrial goods, and electronics, the market is witnessing robust growth and expected to grow rapidly. Market Research Hub (MRH) has recently announced the addition of a new market report to its vast online repository with the title “Thermoformed Shallow Trays Market- Global Industry Analysis, Size, Share, Volume, Growth, Trends and Forecast 2016 - 2024”. This report analysis the present state as well as the future opportunities in the global thermoformed shallow trays market.

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This market report provides a comprehensive understanding of the different market dynamics governing the global thermoformed shallow trays market. It estimates the drivers, restraints, opportunities, risks and threats impelling the various segments of the global market. Geographically, the global thermoformed shallow trays market is divided into North America, Asia-Pacific, Europe, Latin America and MEA. At present, the market in North America is presently the dominant contributor of revenue to the global thermoformed shallow trays market. It is also expected to retain its
dominance, exhibiting a CAGR of 5.3% during the forecast 2016 to 2024. Moreover, the research analysts estimate that the overall market will continue to expand at a healthy pace in the next few years, exhibiting a CAGR of 5.3% during the forecast period 2016-2024. In terms of growth rate, the market in APAC region is anticipated to dominate the market.

Thermoformed shallow trays are shallow containers used for packaging purposes for example carrying, organizing, display, delivery and storage of consumer as well as industrial goods. Thermoformed trays help keep the integrity of the product intact and are primarily used in application including food, snacks, bakery products, pharmaceutical, cosmetic and personal care, industrial goods and electronics. As per the key findings, the increased preference of manufacturers towards non-petroleum-based polymers for thermoformed shallow trays is a key trend observed in the market in the past few years.

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In the next section, on the basis of type of material used to manufacture thermoformed shallow trays, the global market has been categorized in the report into plastic and paper-based laminates. Of these, the segment of plastic is presently the most preferred material for manufacturing thermoformed shallow trays and is expected to remain so over the forecast period as well.

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Some of the players operating in the global thermoformed shallow trays market include Display Pack, Inc., Pactiv LLC, Bemis Company, Inc., D&W Fine Pack LLC, Huhtamaki Oyj, Anchor Packaging, Inc., Tray-Pak Corporation, Sonoco Products Company and Placon Corporation.

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This release was published on openPR.