BAKEABLE TRAYS MARKET ANALYSIS

Bakeable Trays MarketSize and Trends

The Global Bakeable Market was valued at US$ 1,416.6 Million in 2022 and is expected to reach US$ 2,199.7 Million by 2030, registering a CAGR of 5.65% during the forecast period of 2023-2030. Bakeable trays or direct-to-oven trays are used for baking food in oven at high temperature. Metals were initially used to manufacture bakeable trays, however, currently corrugated paper cardboards are used. Corrugated paper cardboard is lightweight, waterproof, and heat resistant that can sustain temperature up to 220ºC. Bakeable trays allow storage, transportation, and selling food products in a single container, which minimizes the packaging and product cost. Bakeable trays are majorly used in food & beverages industry for packaging of ready-to-eat or convenience foods. These trays are also used for roasting and baking food products such as pizzas, meat steaks, confectionary items, pasta, and others.

Market Trends

With more people spending time at home during the COVID-19 pandemic, there has been an increase in home baking. Bakeable trays offer a convenient solution for home bakers who want to experiment with new recipes or bake for their families. 

Global Bakeable Trays Market- Impact of Coronavirus (Covid-19) Pandemic

Numerous industries experienced economic crises during COVID-19, and the global market for bakeable trays was severely impacted by the virus's spread. Governments imposed a nationwide lockdown to stop the spread of corona virus disease, which significantly damaged the raw material supply chain and loomed over the production cycle of the global bakeable trays market. Government restrictions on bakeries, restaurants, and hotels, three industries that use bakeable trays extensively, led to a sharp decline in demand for the product. E-commerce significantly contributed to the improvement of the bakeable trays supply chain and its resurgence.

Figure 1. Global Bakeable Trays Market, By Application, 2022