The global dual-ovenable trays and containers market is estimated to be valued at $1,554.5 million in 2018, and is expected to grow at a CAGR of 3.3% during the forecast period (2018-2026), according to the latest market report published by Transparency Market Research, Albany, N.Y.

The report, “Dual-Ovenable Trays & Containers Market: Global Industry Analysis and Forecast 2018-2026," reveals the global dual-ovenable trays and containers market witnessed lucrative growth during the past few decades, owing to increase in the demand for convenient packaging solutions.

The global dual-ovenable trays and containers market is segmented into paperboard, C-PET, A-PET, PP, PE and more. Among material type segments, the C-PET segment is expected to dominate the market throughout the forecast period, with an estimated market share of 88.7% in 2018. The A-PET segment is estimated to register a CAGR of 2.8 % during the forecast period. The C-PET segment is expected to create an incremental revenue opportunity of $411 million during the forecast period. This segment is estimated to register a value of $1,378.4 million in 2018, and is expected to reach 1,789.4 million during the forecast period. The others segment is estimated to register a CAGR of 2.1 % during the forecast period.  

By end use, the dual-ovenable trays and containers market is segmented into meat, seafood and poultry, snack foods, ready-to-eat meals, frozen foods, bakery products and more. Among end-use segments, the ready-to-eat meals segment is estimated to dominate the market during the forecast period with an estimated market value of 47.1% in 2018. This segment is expected to create an incremental revenue opportunity of $243.3 million during the forecast period. The frozen food segment is estimated to reach an estimated market value of 25% in 2026.

Among geographic market segments, the North America region is anticipated to lead the global dual-ovenable trays and containers market during the forecast period. North America is projected to register a CAGR of 3.3% by value during the forecast period.