According to the most recent market study released by Fact.MR, the global ready meal tray market is anticipated to grow from a value of US$ 1.3 billion in 2024 to US$ 2.5 billion by the end of 2034, with a compound annual growth rate (CAGR) of 6.9%, largely due to the push for the use of eco-friendly and recyclable materials.
It is anticipated that shifting consumer eating patterns will raise demand for quick-to-eat and handy food items. Additionally, the need for easy-to-transport food alternatives that retain their qualities—such as being medicinal, seasonal, organic, etc.—is driving up the usage of ready-to-eat trays all over the world.
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Convenience is king in today's fast-paced society, and nowhere is this more apparent than in the prepared food industry. Convenient and time-saving ready meals are becoming more and more popular among consumers, as hectic schedules and busy lifestyles allow little time for intricate meal preparation. The Ready Meal Tray Market, which offers the packaging options required to supply these handy meals to customers, is the hub of this booming business. This piece explores the ever-changing market for ready-to-eat meal trays, looking at major developments, growth patterns, and the forces behind the industry's continuous change.
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Leading providers of prepared meal trays are developing fresh, cutting-edge goods to improve their visibility and boost sales. In addition, it is anticipated that spending on new product development, controlling supply chain procedures, and upholding product quality will assist firms in securing their place in the market.
As an example:
June 2021 saw the release of Trayforma by Stora Enso. This recently created product is made of wood fiber and is intended exclusively for use in the packing of food trays that can be microwaved. Additionally, this recently created material is renewable and PET-free.
The Rise of Ready Meals:
The days of associating cheap, tasteless food with convenience is long gone. Ready meals have changed dramatically in the last few years, providing a wide range of selections from gourmet dinners to wholesome and nourishing options. Ready meals are now a common sight in the diets of millions of people worldwide, whether they are used for a quick lunch at the workplace, a hassle-free supper at home, or as an easy option for on-the-go travelers.
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- Sonoco Products Company
- Novolex
- Silver Plastics GmbH Co. KG
- Fibercel Packaging Llc.
- Henry Molded Products Inc.
- Faerch A/S
- Amcor PLC
- ESCO Technologies Inc.
- DW Fine Pack LLC
- UFP Technologies Inc. Pactiv LLC
- BillerudKorsnas
- Huhtamaki Oyj
- DS Smith Plc
- International Paper Co.
- Brodrene Hartmann A/S
- Mondi Group PLC
- OrCon Industries Corporation
- Quinn Packaging
- Tray-Pak Corporation
Market Dynamics and Growth Drivers:
The growing need for quick food options, rising urbanization rates, and shifting consumer lifestyles have all contributed to the rapid rise of the ready-meal tray market in recent years. The need for quick and simple meal options that require little preparation has led to a rapid expansion of the ready meal tray business. The ease of having prepared meals delivered right to one's door has further stimulated market expansion, as has the emergence of e-commerce and online grocery delivery services.
Key Market Trends:
The ready meal tray market is undergoing significant change due to a number of phenomena. The focus on environmentally friendly and sustainable packaging options is one prominent trend. Ready meal trays made of recyclable or biodegradable materials are becoming more and more popular as consumers become more ecologically concerned. Additionally, ready meal trays that support dietary choices including gluten-free, vegan, and organic options have developed as a result of the movement toward healthy eating practices. Additionally, as the food industry becomes more premiumized, producers are being forced to come up with innovative, high-end packaging ideas and materials that improve the ready meals' appearance and perceived value.
Market Challenges and Opportunities:
Not with standing its swift expansion, the Ready Meal Tray Industry encounters obstacles like fiscal constraints, legal mandates, and the ongoing demand for inventive solutions. These difficulties do, although, also offer chances for the sector to grow and differentiate itself. Businesses in the ready meal tray industry can get past growth obstacles and set themselves up for success in a cutthroat market by making investments in RD, working with suppliers to source sustainable materials, and utilizing technology to enhance manufacturing procedures.
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https://www.factmr.com/report/4189/ready-meal-trays-market
Future Outlook:
Future prospects for the ready-to-eat meal tray market seem bright. The market for prepared meal trays is anticipated to keep growing since consumers' need for convenience is growing. Furthermore, there are countless chances for businesses to create fresh, creative solutions that satisfy changing consumer demands as packaging innovations and technological advancements continue to flourish.
Segmentation of Ready Meal Tray Market Research:
- By Type :
- Portioned Trays
- Perforated Trays
- By Capacity :
- Up to 250 gms
- 250 to 500 gms
- More than 500 gms
- By Material :
- Polypropylene
- Crystallized Polyethylene Terephthalate (CPET)
- Aluminum
- By End Use :
- QSR FSR
- Transportation Catering Services
- Institutional Catering Services
- Retail Sales
- By Region :
- North America
- Europe
- East Asia
- Latin America
- Middle East Africa
- South Asia Oceania
In summary, the ready meal tray market is essential to providing customers worldwide with quick and filling meal options. The need for creative and environmentally friendly packaging solutions that improve the convenience, freshness, and appeal of these items will only grow along with the demand for ready meals. Companies in the ready meal tray business can prosper in a constantly shifting food scene by embracing sustainability, encouraging innovation, and remaining sensitive to consumer preferences—one meal tray at a time.
