Valley Cottage, NY -- (SBWIRE) -- 12/27/2017 -- Plastics have become a significant part of packaging in today's world. In the coming years, we will find plastics enveloping a more major portion of the packaging industry. With the advancement in technology, different techniques have been utilized, developed and perfected to bring us plastic based packaging that is relevant for different industries. One of those techniques is thermoforming which utilizes vacuum and/or pressure to mold plastics into different shapes and sizes. Customization of the mold design has allowed for manufacturers to mold plastics into various forms suiting their purposes. One of those forms are the thermoformed trays.

Thermoformed trays have become an integral part of complex packaging. Stability and protection of products is a major functionality of packaging. Thermoformed trays, specifically insert trays, fulfill this function efficiently. Fragile products like vials, ampoules and electronics can be easily transported and stored using this function of thermoformed trays. Standard trays with lids and snap devices are widely used in the food industry to package fresh and processed foods. Thermoformed trays help keep the integrity of the product intact. They are widely used in food and beverages, electronics, pharmaceutical, healthcare and cosmetics industry.

Thermoformed trays Market- Market Segmentation:

Based on the Product type, the Thermoformed traysmarket is segmented into:

Standard trays

Insert trays

Dunnage trays

Shelf display trays

Others

Based on end use, the Thermoformed traysmarket is segmented into:

Food & beverages

electronics

Pharmaceuticals

Healthcare

Cosmetics

Horticulture

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Based on the material type, the Thermoformed traysmarket is segmented into:

PP

PET

HDPE

HIPS

PVC

LDPE

ABS

Others

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Thermoformed trays Market- Market Dynamics:

Thermoformed plastics are widely used in the packaging due to their flexibility and durability. The application of thermoformed trays is immense in the food and beverages sector. They can be used to store both fresh and processed foods. As a result, the thermoformed trays market is pegged to witness a steady growth throughout our forecasted period of 2016-2026. In automation, thermoformed trays are being used for efficient manufacturing and shipping of electronic components. The added advantage of protection allows for the protection of components. With the growing demand for consumer electronics, thermoformed trays market is expected to witness a steady CAGR throughout the forecasted period. Insert trays are widely used in the pharmaceutical sector for the packaging of medicines. Glass vials and ampoules can be safely packaged and transported in insert trays with minimal damage. The towering growth in the global pharmaceutical industry will positively influence the thermoformed trays market through our forecast period of 2016 – 2026.

Thermoformed trays Market- Regional Outlook:

In terms of geography, the thermoformed trays market has been divided in to five key regions; North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. With the rising disposable income and consumerism, Asia Pacific and the Middle East region stand ahead in terms of the demand for thermoformed trays. As a result, thermoformed trays market will witness a significant rise in CAGR through the forecasted period through our forecasted period. Europe and North America will also witness a steady but slower growth through or forecasted period of 2016-2026

Thermoformed trays Market- Major Players:

Some of the key players in the thermoformed trays market are HLP Klearford, Klöckner Pentaplast Group, Transparent Container, Inc., Tray-Pak Corporation, Dordan Manufacturing Company, Lacerta group, Inc., Macpac Ltd., Nelipak Healthcare, Sonoco Products Company, Placon.