The business intelligence study for the Ready Meal Trays market provides an extensive synopsis of essential aspects involving the product classification, important definitions, and other industry-specific parameters. The report also covers the key factors associated with the current events such as alliances, mergers & acquisitions, and new product launches.
Additionally, the Ready Meal Trays market study puts forth a rigid basis for collecting a cluster of insights that potential customers can use to enhance their revenues and reduce costs. The illustration of data on Ready Meal Trays market segmentation by type, application, and geography offers a critical viewpoint of, what manufacturers are eyeing for the stipulated timeframe.
The ready meal trays market continues to showcase stunning prospects, with overall incremental opportunity of over US$ 1.7 Billion by 2027 from 2019, according to a recent Fact.MR study. Growth in consumption of packaged food products across both developed as well as developing countries is anticipated to increase the demand for ready meal trays during the forecast period. Ready meal trays are increasingly used by food processors and fast service restaurants to satisfy their packaging demands. Fast food service providers and caterers are showing a strong preference for ready meal trays in lieu of expensive glass crockery owing to the cost savings which they would otherwise incur on human resources for time consuming cleaning and breakages.
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Fiber Based Ready Meal Trays to be a Key Strategy of Leading Market Players
The global-ready meal trays market is hugely fragmented with the existence of a number of private suppliers. The industry is competitive, and the competition between suppliers is primarily based on variables such as cost, the inclusion of fortified ingredients, preparation time, product and packaging innovation, brand image, and product promotion. Some of the recent developments within the global ready meal trays market are:
- In 2019, Packaging and labeling company Huhtamäki developed a new fiber-based ready meal tray for U.K. supermarket chain Waitrose & Partners. The ready meal tray features a novel fiber-based tray suited for both microwave and regular ovens.
- In 2019, Supermarket company, Waitrose limited introduced a new fiber-based ready meal tray which can be recycled along with waste paper, to be used for the Italian range of ready meals. This new material comes from sustainable materials and produces 50 percent less carbon dioxide than the production of black plastic.
- In 2019, British supermarket chain Waitrose launched home-compostable ready meal trays. The new range of ready meal trays are a collaborative project between the Swedish forest company Södra, Huhtamakia and Saladworks and is expected to reduce C02 emissions by 50 per cent.
Global Ready Meal Trays Market: In-Depth Assessment on Key Segments
The global ready meal trays market is segmented on the basis of type, capacity, material, end use and region.