VALLEY COTTAGE, New York, April 1, 2019 /PRNewswire/ -- Future Market Insights (FMI) delivers key pointer on the egg packaging market in its published report, titled "Global Egg Packaging Market: Industry Analysis and Opportunity Assessment, 2019–2029." In terms of revenue, the global egg packaging market is estimated to roughly land at over US$ 5.5 billion by 2019 end.
As indicated by the report, thorough research about macro and microeconomic factors influencing growth of the egg packaging market, FMI opines that the market will expand at a CAGR of over 6% during the forecast period, representing a healthy growth outlook over coming years.
Moulded fibre and plastics, including polystyrene and polyethylene terephthalate (PET), are among the most commonly used raw materials for egg packaging. The FMI study predicts that the global market for egg packaging made of plastic will expand at a CAGR of 6% during the forecast period.
Moulded fibre provides integrated structure with suitable rigidity and stiffness which makes it suitable for shock proof performance. Also, moulded fibre trays have good air permeability and hygroscopic ability which plays an important role in egg packaging and storage. However, the price of moulded fibre is comparatively on the higher end as compared to plastics. In addition, plastic trays are reusable and washable. This is one of the main factors why plastic is preferred over moulded fibre in the egg packaging market. Trays made up of polystyrene offer superior cushioning and protection against moisture and odor. Also, plastic is fungus- and mould-resistant, which marks another benefit over moulded fibre in terms of maintenance.
End-users Prefer Trays over Cartons as Convenience Becomes Paramount
Egg packaging solutions available in the market are either egg trays or cartons. FMI predicts that egg packaging solutions in the form of trays will have a lion's share in the egg packaging market during 2019-2029. This is mainly attributed to the ergonomics of trays. Trays also provide a convenient method for counting eggs.
Moreover, special care needs to be taken for cartons made up of moulded fibre as they cannot be placed at the bottom as a stack. Higher level of convenience of egg packaging in the form of trays is thus expected to influence the dynamics of the egg packaging market in the upcoming years.
Egg Packaging Market is Becoming Highly Competitive
In recent times, egg packaging manufacturing industries are witnessing intense competition among regional players. In order to remain competitive in the market, manufacturers are focused on innovation in product design, in terms of shape, size, raw materials, and functional properties.
Key manufacturers in the egg packaging market such as Huhtamaki are opting for grass-based materials for the production of cartons. Rye grass cartons are another alternative to traditional cartons in the egg packaging market. These cartons are made up of rye grass & cardboard, elevating sustainability quotient of the egg packaging market.
Key vendors in the egg packaging market are expanding through organic methods such as launching new products or expanding their manufacturing capacity. For instance, Huhtamaki has developed new egg trays for 30 eggs at its Brazil manufacturing plant.
Key manufacturers in the egg packaging market profiled in this report include– Huhtamaki Oyj, Brodrene Hartmann A/S, Henry Molded Products, Inc., Pacific Pulp Molding, LLC, Pactiv LLC, Sonoco Products Company, Primapack SAE, CKF Inc., Biodegradable Packaging for Environment Co., Ltd., D&W Fine Pack LLC, Placon Corporation Inc., Mauser Packaging Solutions, Linpac Packaging Ltd., Tekni-Plex Inc., Graphic Packaging Holding Company, Genpak, LLC, KSP Fiber Products Pvt Ltd., Al-Ghadeer Group, Guangzhou NANYA Pulp Molding Equipment Co., Ltd., Celluloses De La Loire, and Dynamic Fibre Moulding (PTY) Ltd.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.