In terms of revenue, the global egg packaging market is estimated to roughly land at over US$ 5.5 billion by 2019 end.
In a thorough review of macro and microeconomic factors influencing the growth of the egg packaging market, the report opines that the market will expand at a CAGR of over 6% during the forecast period, representing a healthy growth outlook over coming years.
Molded fiber and plastics, including polystyrene and polyethylene terephthalate (PET), are among the most commonly used raw materials for egg packaging. The study predicts that the global market for egg packaging made of plastic will expand at a CAGR of 6% during the forecast period.
Molded fiber provides an integrated structure with suitable rigidity and stiffness which makes it suitable for shockproof performance. Also, molded fiber trays have good air permeability and hygroscopic ability which plays an important role in egg packaging and storage. However, the price of molded fiber 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 molded fiber in the egg packaging market. Trays made up of polystyrene offer superior cushioning and protection against moisture and odor. Also, plastic is fungus- and mold-resistant, which marks another benefit over molded fiber 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. The report 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 molded fiber as they cannot be placed at the bottom as a stack. The 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. Ryegrass cartons are another alternative to traditional cartons in the egg packaging market. These cartons are made up of ryegrass and 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.
These insights are based on a report Egg Packaging Market by Future Market Insights