Market Analysis
The Lidding Films Market is likely to grow at a 6.1% CAGR in the forecast period 2020- 2027, according to the latest Market Research Future (MRFR) analysis. Lidding films are used to cover trays, cups, bowls, and tubs owing to their stability, heat resistance, and high tensile strength for which they are also useful in cargo packaging. These films boost the life of the product owing to its high barrier resistance. They are process optimized that makes them cost effective.
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Various factors are fuelling the global lidding films market share. As per the recent MRFR market estimates, such factors include increasing demand for food packaging, change in lifestyle of developing countries, growing population, the need for packaging of fresh food, increasing preference towards ready to eat food, rise in online retail sites, growing use of online products, increasing use during COVID-19 pandemic, and eco-friendly nature of biodegradable caps and lidding films.
On the contrary, ban on plastics in different countries, shortage of raw materials, volatile prices, and the inability of lidding films to protect food from chemical and physical damage may limit the global lidding films market growth over the forecast period.
Key Players
The prominent players profiled in the global lidding films market report include Impak Films Pty Ltd (Australia), Linpac Packaging Limited (U.K.), Plastopil Hazorea Company Ltd. (Israel), Clifton Packaging Group Ltd (U.K.), Schur Flexibles Holding GembH (Austria), Uflex Ltd (India), Toray Plastics (America), Inc (Japan), Wipak Walsrode GmbH & Co. KG (Germany), Berry Plastics Corporation (U.S.), Constantia Flexibles Group GmbH (Austria), Sealed Air Corporation (U.S.), The Mondi Group (Austria), Ampac Packaging LLC (U.S.), Bemis Company, Inc. (U.S.), and Amcor Limited (Australia), among others.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global lidding films market based on end user, application, product, and material.
By material, the global lidding films market is segmented into ethylene vinyl alcohol (EVOH), polyethylene terephthalate (PET), polyethylene (PE), polyvinyl chloride (PVC), polypropylene (PP), and others. Of these, the PP segment will lead the market over the forecast period.
By product, the global lidding films market is segmented into high barrier lidding films, specialty lidding films, dual-ovenable lidding films, and others. Among these, the high barrier lidding films segment will dominate the market over the forecast period.
By application, the global lidding films market is segmented into cans and bottles, tray, cups, and others. Of these, trays will spearhead the market over the forecast period.
By end user, the global lidding films market is segmented into personal care and cosmetics, pharmaceutical, food & beverage, and others. Among these, food and beverage will have the lions share in the market over the forecast period.
Regional Analysis
By region, the global lidding films market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will rule the market over the forecast period. Increasing need for packaged food and consumer goods, and increasing application for high barrier lidding film packaging are adding to the global lidding films market growth over the forecast period.
In the APAC region, the global lidding films market is predicted to grow at a fast pace over the forecast period. Rapid growth in the packaging industry, growing urbanization and industrialization in India and China, the availability of low labor cost and raw materials, and industrial development in China are adding to the global lidding films market growth in the region. Indonesia, Australia, India, Japan, and China have the utmost market share.
In Europe, the global lidding films market is predicted to have healthy growth over the forecast period. The booming packaging industry, high demand for lidding films, speedy rates of development and product innovation, and the region being pushed to offer greener alternatives to conventional plastic packaging are adding to the global lidding films market growth in the region.
In South America and the MEA, the global lidding films market is predicted to have stable growth in the forecast period for the burgeoning need from the e-commerce sector.
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Industry Updates
April 2021- Berry Gardens and Coveris have launched a recycled lidding film with more than 30% PCR content.
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