Lidding Films Market Size, Share, Trends, Growth, Analysis, by Product (Dual-Ovenable Lidding Films, Specialty Lidding Films, High Barrier Lidding Films and Others), by Material (Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene (PE), Polyethylene Terephthalate (PET), Ethylene Vinyl Alcohol (EVOH), and Others), by Application (Cups, Tray, Cans & Bottles, and others), by End-user (Food & Beverage, Pharmaceutical, Personal Care & Cosmetics, and Others) and Region – Forecast To 2023
Lidding Films Market Scenario
The global lidding films market is anticipated to garner a CAGR of 6.1% during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed report. The lidding films market is highly competitive and fragmented due to the existence of multiple industry bigshots worldwide. Key strategies like partnership and agreement, product launch, and acquisition and expansion are promoting the market growth.
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The top players operating in the global lidding films market are
- Bemis Company, Inc. (U.S.)
- Amcor Limited (Australia)
- The Mondi Group (Austria)
- Ampac Packaging LLC (U.S.)
- Constantia Flexibles Group GmbH (Austria)
- Sealed Air Corporation (U.S.)
- Wipak Walsrode GmbH & Co. KG (Germany)
- Berry Plastics Corporation (U.S.)
- Uflex Ltd (India)
- Toray Plastics (America) Inc (Japan)
- Clifton Packaging Group Ltd (U.K.)
- Schur Flexibles Holding GembH (Austria)
- Linpac Packaging Limited (U.K.)
- Plastopil Hazorea Company Ltd. (Israel)
- Impak Films Pty Ltd (Australia).
On August 2018, KM Packaging developed mono-PET film range by using K Peel advanced lidding film solutions. The range is a seal and peel solution which has been specifically designed for pressed and pulp board trays.
Market Potential and Pitfalls
Lidding Films Market are extensively used to cover tubs, trays, cups, bowls, and others owing to their heat resistance, high tensile strength, and stability. Due to these properties, they are also used in cargo packaging. The high barrier resistance of lidding films helps to increase the life of the product. These films are cost-effective as they are process-optimized. Such factors are highly encouraging the growth of the market across the globe.
The increasing global population has resulted in a demand for packaging of fresh food. This has created a significant opportunity for the lidding films market. Manufacturers of lidding films are highly focusing on updating the latest technologies and implementing them in the packaging materials. This has further impacted the market positively. The surging demand for food packaging has resulted in the increased sales of lidding films. As lidding films provide extended shelf life to the products, the market is likely to gain impetus.
On the contrary, concerns related to the environmental effects of the use of plastic disposal is considered a major factor restricting the growth of the market in the foreseeable future.
Global Lidding Films Market: Segmental Analysis
The lidding films market is segmented on the basis of product, material, application, and end user.
By material, the lidding films market is segmented into polyvinyl chloride (PVC), polypropylene (PP), polyethylene terephthalate (PET), polyethylene (PE), ethylene vinyl alcohol (EVOH), and others. Among these, polypropylene dominates the market and is predicted to expand at the fastest rate.
By product, the market is segmented into dual-ovenable lidding films, specialty lidding films, high barrier lidding films, and others. Among these, high barrier lidding films will lead the market due to certain benefits like high performance, lightweight, and attractive packaging.
Based on application, the market includes tray, cups, cans & bottles, and others. Among these, trays dominate the market and will register the fastest CAGR.
By end use, the market comprises pharmaceutical, food & beverage, personal care & cosmetics, and others.
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Geographically, the lidding films market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, North America holds the lion’s share. The growth can be attributed to the surging demand for packaged food items and consumer goods in the region.
The Asia Pacific will expand at the fastest rate owing to the booming packaging industry. With rapid urbanization and industrialization, especially in developing economies like India and China, the lidding films market is estimated to flourish. The high availability of raw materials, coupled with the low labor cost, has enabled the market to reach out to the consumers. In this region, China acquires the largest share due to the developing industries and urbanization.
Europe is a prominent region for the lidding films market as the packaging industry holds a strong ground here. The increased demand and fast rate of product development and innovation have encouraged the market growth. The lidding films market offers greener alternatives to conventional plastic packaging.
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