Aluminum is a highly malleable material, and it also has high levels of heat conductivity, which are key factors behind the high popularity of aluminum trays in the food industry. In addition, aluminum is a material that is not conducive to microbial growth, and is very popular in a variety of food packaging applications.
The global market for aluminum trays is projected to grow at a strong CAGR of more than 5.5 per cent for the forecast period till 2027. This will account for approximately 33 billion units during this period. This growth can be substantially attributed to the high demand for hygienic packaging options, which make aluminum a good choice owing to the light weight, superior recyclability, and cost effectiveness in tray production.
Product Launches are Key to Expansion Strategy for Manufacturers
The worldwide market for aluminum trays is widely considered to be very fragmented, with a large number of players seeking to bolster their penetration to the consumer base. Major players in the industry include names such as i2r Packaging Solutions Limited, Nicholl Food Packaging Ltd., Alufoil Products Pvt. Ltd., Wyda Packaging Ltd., Durable Packaging International, Contital Srl, Formacia, Roihu Inc., and Artenko among others.
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Key findings of the keyword market study:
- Regional breakdown of the keyword market based on predefined taxonomy.
- Innovative manufacturing processes implemented by keyword vendors in detail.
- Region-wise and country-wise fragmentation of the keyword market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global keyword market.
Queries addressed in the keyword market report:
- How has the global keyword market grown over the historic period of 2014-2018?
- Why are the keyword market players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global keyword market?
- Which regions are displaying the fastest growth in the keyword market?
- What are the underlying micro- macroeconomic factors affecting the global keyword market?
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