New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Egg Tray Global Market Report 2023" - https://www.reportlinker.com/p06466530/?utm_source=GNW
, Hartmann, Celluloses de la Loire, GI-OVO B.V (Netherlands), Green Pulp Paper Industry Sdn Bhd, BWAY Corporation, Maspack Ltd., Pacific Pulp Molding Inc., Primapack, Reynolds Group Holdings Ltd., and KSP Fibre Products Pvt. Ltd.

The global egg tray market is expected to grow from $4.06 billion in 2022 to $4.36 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The egg tray market is expected to reach $5.54 billion in 2027 at a CAGR of 6.2%.

The egg tray market consists of sales of pulp egg cartons, foam egg cartons, egg flats, egg sleeves, egg crates, and egg boxes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

An egg tray is a type of tray with several divots for holding individual eggs that come in a wide variety of colors, materials, forms, sizes, and designs to carry and transport entire eggs. The egg tray protects eggs from stresses during shipment and storage by absorbing shock.

Asia-Pacific was the largest region in the egg tray market in 2022.North America is expected to be the fastest-growing region in the forecast period.

The regions covered in egg tray report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of egg trays are molded fiber, plastic, and other products.Plastic refers to a strong, lightweight material that is created chemically and can be molded into many shapes, and is used to create a variety of everyday items and is used to sort, store, and ship eggs and provide protection and separation.

These are used in various applications such as liquid egg products, dried egg products, and frozen egg products and are distributed through various distribution channels such as supermarkets and hypermarkets, convenience stores, online retail, and others. These are also used by various end users such as transportation, retailing, and others.

The growing demand for eggs is expected to boost the growth of the egg tray market going forward.An egg is a hard-shelled reproductive body produced by a bird or domestic chicken that is used as food in addition to a primary component for baked goods.

Egg trays protect eggs from external damage.It additionally safeguards the eggs from being damaged and turning bad due to illumination and dampness and minimizes the loss of eggs.

Hence, the growing demand for an egg will boost the need for the egg tray. For instance, in April 2022, according to statistics published by Department for Environment Food & Rural Affairs, a UK government department, the number of eggs purchased by UK egg processors totalled 1,113 thousand cases (equivalent to 24.4 thousand tonnes) in Q3 2021, a 22% rise over the same period in 2020 and a return to pre-2020 levels. In Q3 2021, liquid eggs accounted for 72% of total output; compared to the same quarter of 2020, total output increased by 19% in Q3 2021. Additionally, according to Statistics Canada, a Canada-based government agency, the production of eggs in 2020 reached 839 million of dozens from 822 million of dozens. Therefore, the growing demand for processed eggs is driving the growth of the processed eggs market.

Product innovation is a key trend gaining popularity in the egg trays market.Major market players are concentrating their efforts on creating innovative product-related technologies and development, such as advanced analytics, video technology, green energy sources, biodegradable and compostable materials, RFID tracking, and automated egg handling.

For instance, in February 2022, Tekni-Plex, a US-based materials science and manufacturing technologies company, launched a new Dolco ProPlus egg carton that contains 25% post-consumer recycled (PCR) foam polystyrene. With the help of advanced recycling, it is possible to recycle these cartons more than once without sacrificing their quality or functionality, helping the packaging sector transition to a real circular economy.

In January 2022, Tekni-Plex, a US-based materials science and manufacturing technologies company, acquired licensed technologies of Fibro Corporation for an undisclosed amount.With this acquisition, Tekni-Plex focuses on enabling the company to scale up, boost production, and expand product lines to supply superior solutions to a broader range of fresh foods markets while giving extra consumer value.

Fibro Corporation is a US-based company that develops and manufactures innovative molded-fiber packaging that includes egg tray cartoons.

The countries covered in the egg tray market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The egg trays market research report is one of a series of new reports that provides egg trays market statistics, including egg trays industry global market size, regional shares, competitors with an egg trays market share, detailed egg trays market segments, market trends, and opportunities, and any further data you may need to thrive in the egg trays industry. This egg trays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466530/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________