Market Trends of Indonesia Plastic Food Tray Industry
This section covers the major market trends shaping the Indonesia Plastic Food Tray Market according to our research experts:
Increasing Demand for Ready-to-eat Food and Online Food Delivery Drives the Market
- Meeting consumer demands is a significant driver for existing and new packaging technologies. The packaging industry has been experiencing fundamental shifts focused on brand experience. Demand for ready-to-eat meals is also a key driver of change. The food tray market is considerably less expensive and lighter in weight for transportation.
- According to a survey conducted by Trade and Investment with Indonesia, by 2050, Indonesia is projected to be the world's fourth-largest economy. Per capita consumption of commodities such as beef and grains is expected to be higher than in China. Indonesia is a USD 2.5 billion export market for Australian farmers, fisheries, and more. Rising incomes and increasing urbanization drive consumer demand for more pre-packaged, ready-to-eat, and deliverable food options.
- According to Statistics Indonesia, as of March 2022, prepared food and drinks accounted for around 26.16 percent of monthly per capita food spending in rural Indonesia. In comparison, about 8.9 percent of monthly per capita food in rural areas in Indonesia was spent on vegetables.
- Furthermore, due to increased consumer awareness of sustainable packaging, manufacturers in the country are focusing on producing sustainable plastic food trays. The companies are trying to incorporate recyclable plastic trays for food packaging. Clear plastic is preferred for food packaging because it can be recycled into more clear or colored plastic. Black plastic is frequently used in packaging because it may hide colors or flaws, but because it contains carbon black pigments, it cannot be recycled.
- Moreover, according to a recent survey by the Center for Indonesian Policy Studies, online grocery delivery services in Indonesia are projected to grow at an annual rate of 11.5% from 2020 to 2024. Online grocery delivery offers an opportunity for many Indonesians. Expand choice and convenience by expanding the dining options available to consumers, including restaurants, home grocers, food courts, and food stalls. Online grocery delivery also provides employment and entrepreneurial opportunities for vendors and drivers. All these factors drive the market demand for ready-to-eat and online food delivery in the country.
Understand The Key Trends Shaping This Market
Download Sample
PET Resin Type Segment Holds Major Market Share
- PET has become the most widely used material for packaging food products. The material offers a high melting point, low brittleness, transparency, and high barrier. It is gaining importance due to its low cost compared to other thermoplastic materials. PET food trays have become the first preference among the different product types for packaging food products. It is necessary to dry PET granules before processing as they could get hydrolyzed at high temperatures due to moisture content. Some of the latest innovations in the PET food trays market is the introduction of high-quality lightweight PET food trays to reduce material and energy consumption.
- With the growing demand for convenience products, Indonesians are increasingly looking for quick and easy solutions that satisfy their needs without sacrificing quality or taste. This trend toward convenience items is driven by more mobility and decreased time spent at home due to increasingly hectic lifestyles. Ready-to-eat food satisfies these requirements because it can be consumed quickly and easily without requiring any preparation.
- During the forecast period, consuming packaged food products in Indonesia would significantly raise demand for PET Food Trays. This is primarily due to busier lifestyles, which contribute to a strong preference for convenience products. Food processors and quick-service restaurants increasingly use PET food trays to satisfy their packaging needs. However, it has been observed that demand for PET food trays may decrease due to new and current rules and regulations regarding plastic packaging items.
- Furthermore, demand for PET food trays is likely to rise further as new food products are introduced into the packaged food category. Because of their numerous advantages and qualities, RPET and PET plastic is one of the thermoformed tray manufacturing materials with the most significant growth and implementation in the market.
- Factors such as increasing income levels and growing population are key drivers of Indonesia's Ready to Eat Food market. According to Statistics Indonesia, as of march 2022, approximately 57.5 percent of expenditure in rural areas in Indonesia was allocated for food and 42.6 percent. The major drivers for this growth are the expanding consumer preference for healthy food options, increasing health consciousness among consumers, and increasing investment in prepared food businesses.
- According to data published by the Department of Foreign Affairs and Trade, By 2050, Indonesia is projected to be the world's fourth-largest economy, with per-person consumption of commodities like beef and cereals predicted to be greater than China. Indonesia is currently a USD 2.5 billion export market for Australian farmers, fisheries, and foresters. Higher incomes and rising urbanization have given consumers more excellent choices, increasing demand for pre-packaged, ready-to-eat, and deliverable food products.
