Lidding Films Market Trends
Lidding Films are usually used for covering trays, tubs, bowls, cups, etc. due to their high tensile strength, heat resistance, and stability, due to which they are also useful in cargo packaging. Lidding films increase the life of the product due to its high barrier resistance. Lidding Films also are process optimized, which makes them cost effective. Lidding films market have seen an increase in the penetration of retail outlets in Asia Pacific, which drives the demand for lidding films.
Lidding Films Market Trends has been forecast to demonstrate an exponential growth by 2028, surpassing its previous growth records in terms of value with a CAGR of 5% during the estimated period (2021-2028).
Additionally, with the increasing population, the need for packaging of fresh food is increasing which has created a significant opportunity for lidding films. Moreover, lidding films manufacturers are focusing on upgrading new technology and implementing it in packaging materials. This also has the positive influence on the growth of the market. However, lidding films have concerns regarding the environmental effects of the use of plastic disposal from the government is the major factor that hinder the market growth.
On the basis of regions, North America region dominates the market. Asia Pacific is expected to grow at a highest CAGR during the forecast period. Availability of raw materials and low labor cost, together form a positive influence on the market growth.
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Market Research Analysis
The global market for lidding films has been segmented based on technology, product, end-user, and region. On the basis of end-user, the market has been segmented as food beverage, pharmaceutical, personal care cosmetics, and others. Food Beverage dominates the application segment of the market and is expected to have the highest CAGR during the forecast period.
The food products packaged using these films contain less preservatives than canned food products. This has increased their acceptance among health-conscious consumers. Transparent barrier packaging film is a preferred material for the packaging of meat, sausages, vegetable, and some beverages in the food industry. Pharmaceutical application is expected to contribute significantly during the forecast period.
On the basis of material, the market has been segmented into Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene (PE), Polyethylene Terephthalate (PET), Ethylene Vinyl Alcohol (EVOH), and Others. Polypropylene (PP) dominates the material segment of the market and is expected to be the fastest growing material segment. On the basis of application, the market is segmented as Cups, Tray, Cans Bottles, and others. The trays segment dominates the application segment of the market and is expected to have the highest CAGR during the forecast period.
Scope of the Report
This study provides an overview of the global market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Lidding Films market by its technology, product, end-user and region.
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By Product
- Dual-Ovenable Lidding Films
- Specialty Lidding Films
- High Barrier Lidding Films
- Others
By Material
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Ethylene Vinyl Alcohol (EVOH)
- Others
By Application
- Cups
- Tray
- Cans Bottles
- Others
By End-user
- Food Beverage
- Pharmaceutical
- Personal Care Cosmetics
- Others
Key Players
The prominent players in the global lidding films market include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Ampac Packaging LLC (U.S.), The Mondi Group (Austria), Sealed Air Corporation (U.S.), Constantia Flexibles Group GmbH (Austria), Berry Plastics Corporation (U.S.), Wipak Walsrode GmbH Co. KG (Germany), Toray Plastics (America), Inc (Japan), Uflex Ltd (India), Schur Flexibles Holding GembH (Austria), Clifton Packaging Group Ltd (U.K.), Plastopil Hazorea Company Ltd. (Israel), Linpac Packaging Limited (U.K.), and Impak Films Pty Ltd (Australia).
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