Published on : Dec 22, 2017
Albany, New York, December 22, 2017: Lidding Films hold escalation due to upsurge demand for food packaging and this has resulted in the development of the sales for lidding films so that it can provide extended shelf life to the products. Recently, a study titled “Lidding Films Market - Global Industry Analysis, Trend, Size, Share and Forecast 2017-2025” has been added to the wide database of Market Research Hub (MRH), which clearly states that the global lidding films market is expected to grow significantly in the coming years. The changing lifestyle along with changing the domestic structure in urban areas in these economies is increasingly leading to switch to organized retail channels such as supermarkets and hypermarkets for everyday needs. This is positively impacting the lidding films market. In addition, research estimates the global lidding films market to become worth over US$5 bn by the end of 2025 from its valuation of US$2.9 bn in 2016 at a CAGR of 6.3% for the forecast period between 2017 and 2025.
Lidding Films are usually used for covering trays, tubs, bowls, cups, etc. due to the strength it possesses such as high tensile, heat resistance and stability. The high barrier property of these lidding films that helps retain the freshness of food for a longer time is suitable for changing the domestic structure in urban areas. This in turn, is aiding the market’s growth. Lidding Films manufacturers are mainly focusing on upgrading new technology and implementing it in packaging materials. In addition, rise in budget of brand owners for branding and promotional campaigns for newly launched products and pipeline products has paved way for the growth of lidding films market. Several foods and beverage brands prefer lidding films for promotion as they enable high brand visibility.
Geographically, the lidding films market has been segmented into five regions: North America, Asia Pacific (APAC), Latin America, Europe and the Middle East & Africa (MEA). For each regional segment, the market size for future years has been analyzed which is based on revenue and market development between 2017 and 2022. As per the report, Asia Pacific is anticipated to be a lucrative market displaying the leading CAGR of 7.2% over the forecast period. In terms of value, Europe presently accounts for a significant 28.8% share in the global market.
Moreover, the market has been segmented on the basis of material type, product type, application and end use. The global market by product type has been segmented into breathable, dual ovenable, specialty, high barrier and die-cut lidding films. Among the key product types, the high barrier lidding films segment is anticipated to grow steadily. Application-wise, the global lidding films market is segmented into cans & bottles, cups, trays, jars and others. Of them, the trays segment is predicted to lead the market over the forecast period.
The vendor landscape in the global lidding films market is highly fragmented and competitive on account of presence of a large number of market players. Key Players of the lidding films market are Amcor Limited, Bemis Company, Inc., Multi-Plastics, Inc., Uflex Ltd, Plastopil Hazorea Company Ltd, Berry Global Group Inc., Winpak Ltd, LINPAC Packaging Limited, Constantia Flexibles Group GmbH, Schur Flexibles Holding GesmbH, Flair Flexible Packaging Corporation, Golden Eagle Extrusions Inc., FFP Packaging Solutions Ltd, Impak Films Pty. Ltd, Flexopack SA, TCL Packaging Ltd.
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