Lidding Film Food Packaging Market 2021: Global Projection, Developments Status, Analysis, Trend and Forecasts
According to Market Research Future (MRFR), the global lidding films market is expected to register a CAGR of 6.1% from 2017 to 2023 (forecast period). The study presents the COVID-19 review of the global lidding films market and offers a rigorous illustration of market segments, emerging developments, growth projections, and market challenges.
Lidding films are typically used to cover trays, tubs, bowls, cups, etc. due to their strength, such as high tensile strength, heat resistance, and stability. Lidding films are eco-friendly and are available in a biodegradable form that helps to protect the environment. In addition, the lidding film also increases the shelf life of the product due to its excellent barrier resistance. Lidding films are useful in cargo packaging due to their high tensile strength. Lidding Films are also process optimized that help to make the raw material cheaper and cost-efficient.
Market Dynamics
Lidding films are continuing to rise due to an increase in demand for food packaging, which has resulted in an increase in sales for lidding films in order to provide longer shelf life for goods, and this trend is projected to increase over the 2017–2023 forecast period. The lidding films industry has seen an increase in the penetration of retail outlets in the Asia Pacific region that are driving demand for the lidding film food packaging market. In addition, the market for lidding films has a positive effect on the evolving lifestyle of developing countries across the globe and is fueling demand. With a growing population, the need for fresh food packaging is growing, creating a major opportunity for a lidding film. Lidding films, however, cannot protect food products from external physical and chemical damage, which may impose a limitation on the market.
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).
Market Segmentation
The global lidding films market has been segmented based on material, product, application, and end-user.
On the basis of material, the global lidding films market has been segmented into polypropylene (PP), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polyethylene (PE), Ethylene Vinyl Alcohol (EVOH), and Others. Polypropylene (PP) leads the material segment of the market and is predicted to be the fastest-growing material segment. The majority of the end-users use LDPE for high barrier packaging films. It has numerous benefits like ease of processing, the barrier to moisture, strength/toughness, flexibility, and ease of sealing. PVC is a dense material. It is considered a standard material in India, when clarity is an important selection criterion, particularly for consumer packaging.
On the basis of product, the global lidding films market has been divided into Dual-Ovenable Lidding Films, High Barrier Lidding Films, Specialty Lidding Films, and Others. High Barrier Lidding Films leads the product segment of the market. The repute of the high barrier lidding films has increased due to its features like lightweight nature, high performance, and attractive packaging.
By application, the global lidding films market size has been segmented into cups, tray, cans & bottles, and others. Trays dominate the application segment of the market and are predicted to grow at the fastest CAGR during the forecast period.
Regional Analysis
By region, the global market for lidding films has been segmented as North America, Europe, Asia Pacific, and Rest of the World (RoW).
The North American area dominates the market. Increased demand for consumer goods and packaged food in this area is driving its growth. In addition, growing applications for high-barrier lidding film packaging in this area are also boosting the growth of the industry. The U.S. has had the highest market share in North America.
The Asia Pacific region is set to be the fastest-growing region on the market. Rapid growth in the Asia Pacific packaging industry is a key driver of market growth. Increasing industrialization and urbanization in developing nations like China and India are boosting the market. In addition, the availability of raw materials and low labor costs together have a positive effect on the growth of the industry. The main markets in the Asia Pacific are China, Japan, India, Australia, and Indonesia. China has the largest market share in the Asia Pacific region, primarily due to rapid growth in urbanization and industrial development.
Europe is another significant market for lidding films. It is expected to make a substantial contribution during the forecast period. In terms of growth, Europe is projected to be another major market. The packaging industry has a strong foothold in Europe due to high demand and rapid product innovation and growth. The lidding film industry in Europe is also being pushed to provide greener alternatives to traditional plastic packaging.
South America and the Middle East and Africa regions are also projected to show positive growth during the projected period due to growing demand from the e-commerce market.
Browse complete report @ https://www.marketresearchfuture.com/reports/lidding-films-market-5397
About Market Research Future:
Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.
MRFR’s goal in providing a comprehensive coverage of the market replete with latest trends, niches, developments, and insights can be lucrative for business needs. We aim to push our clients to the forefront by guiding them with astute information for making informed decisions. Our market intelligence can track down key issues in industries and be modified as per the fluctuations in economic scenarios. The reports are customized and offered as per a specific region or country and adhere to latest policies.
Contact Us:
Market Research Future
Office №524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune — 411028
Maharashtra, India
+1 646 845 9312
