Global Foam Trays Market, By Material (Polyester, Polyethylene, Polystyrene, and Others), By Application (Pharmaceutical, Food Packaging (Meat and Poultry, Dairy Products, Food Service (Clamshells), Fruits and Vegetables, Bakeries), Industrial Packaging, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Mar 2024

Code : CMI6818

Pages :135

Formats :

Excel and PDF

Industry : Advanced Materials

Market Concentration and Competitive Landscape

Global Foam Trays Market Concentration By Players

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Rising Environmental Concerns

Stringent regulations regarding food safety is one of the primary factors driving the growth of the food grade alcohol market. Governments across the world are implementing stricter guidelines to ensure the quality and safety of food products. Alcohol that does not meet the prescribed standards for food consumption cannot be used in the food industry. This has compelled food companies to rely solely on food grade alcohol that adheres to the regulatory norms. The food grade alcohol manufacturing industry has responded proactively to these regulations. Producers are investing heavily in R&D to come up with innovative purity testing technologies and upgrading production facilities. Advanced distillation and filtration methods allow manufacturers to remove impurities and contaminants from alcohol. They can certify that their products meet all criteria specified by regulatory bodies. This gives confidence to food businesses that opt for these alcohols. It has also increased transparency in a supply chain. The trend of stringent norms is likely to continue in the coming years. According to a study by WHO, over 200,000 people require hospitalization every year globally due to contaminated food. Governments are under pressure to strengthen laws to curb foodborne illnesses. The food industry needs to comply with evolving standards. This dependable demand for certified pure alcohol from the food industry will spur growth opportunities for food grade alcohol producers. Food businesses seeking legitimacy are progressive adopters of food grade alcohols. Natural health product makers and packaged food companies requiring alcoholic extracts or extracts will predominantly contribute to revenues. The market holds significant potential with ongoing regulations and responsible manufacturing practices gaining prevalence. Food safety remains a major priority so demand for compliant alcohols is projected to rise substantially over the next decade.

Key Players Insights