Dublin, Dec. 16, 2024 (GLOBE NEWSWIRE) -- The "Food Warming Trays Market by Material, Shape, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global food warming trays market size reached US$ 523.3 Million in 2023. Looking forward, the analyst expects the market to reach US$ 900.0 Million by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2023-2032. The expanding popularity of outdoor dining, the bolstering growth of the hospitality sector, and ongoing technological innovations represent some of the key factors driving the market. 
The emerging trends of outdoor dining have increased the demand for food-warming trays to serve outdoor meals at optimal temperatures, representing one of the prime factors driving the market growth. Besides this, the inflating disposable income of consumers, the growing popularity of online food delivery services, the expanding popularity of potlucks, and the rise in home-based catering businesses, are creating a favorable outlook for the market.
Moreover, the bolstering growth of the hospitality industry, the growing trend of home entertainment, and the rising number of food service establishments are presenting remunerative growth opportunities for the market. In addition to this, the surging demand for premium product variants made of stainless steel that offer quality, durability, and energy efficiency, as well as a modern and sleek look, is acting as another significant growth-inducing factor.
Furthermore, ongoing technological innovations in commercial food warming and holding equipment and the advent of smart food warming trays with advanced features, such as temperature control and timers that can be controlled with a smartphone app, are positively impacting the market growth. Concurrent with this, the shifting consumer preferences and stringent government regulations due to escalating environmental and climate concerns are prompting leading market players to introduce sustainable product variants, which, in turn, is contributing to the market growth.
Market Segmentation
This report provides an analysis of the key trends in each segment of the global food warming trays market, along with forecasts at the global, regional and country levels from 2024-2032. The report has categorized the market based on material, shape, and application.
Material Insights:
- Paperboard Food Containers
- Plastic Food Containers
- Metal Food Containers
- Glass Food Containers
According to the report, metal food containers represented the largest segment.
Shape Insights:
- Round
- Square
- Rectangle
Application Insights:
- Commercial
- Household
Regional Insights:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
According to the report, North America was the largest market for food warming trays. Some of the factors driving the North America food warming trays market included the rising popularity of outdoor and buffet dining, the significant expansion of the hospitality sector, and ongoing product innovations.
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global food warming trays market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Some of the companies covered include Brentwood Appliances, Cadco Ltd, Hatco Corporation, Nostalgia Products, Salton Corp, Spring USA Manufacturing, Inc, The Vollrath Company, Toastess International, etc.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 149 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $523.3 Million |
| Forecasted Market Value (USD) by 2032 | $900 Million |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/k9l5mn
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