High Barrier Lidding Film giving a Life Extension to Ready-to-eat Food Product Witnesses an Acute Rise in Sales. Know more.
The market for high barrier lidding film is expected to reach a value of US$2,203.7 million in 2022. During the projection period (2022 to 2032), sales of high barrier lidding film are expected to grow at a CAGR of 5.9%, reaching a value of US$ 3,909.4 million, because to its superior performance, low weight, attractive packaging, and popularity. High barrier lidding film sales increased globally from 2017 to 2021 at a 3.2% CAGR.
Lidding Films have grown as an essential part of the packaging industry, and since last decade it has gained the significant attention of manufacturers owing to the increase in demand for the packaging of products such as foods, beverages and pharmaceutical industry. Lidding films are the primarily of four types such Lidding films include dual ovenable Lidding films, specialty lidding films, breathable lidding film and high barrier lidding film.
High barrier lidding film are designed for products to provide an oxygen barrier thus providing a safe environment with improved shelf-life. High barrier lidding films in packaging are often used to safeguard product integrity and preserve quality in case of water permeation moisture, oxygen, flavor, aroma, gas, and light. High barrier lidding films have been witnessing a growth in demand as they are highly suitable for fresh food packaging.
High barrier lidding films are the most preferred choice owing to its high performance, light weight and attractive packaging. The growing range of applications of high barrier lidding films is expected to drive its market over the forecast period.
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High Barrier Lidding Film Market: Drivers and Restraints
The market for high barrier lidding films is anticipated to be driven by growth in the consumption of packaged food and beverages products across the globe. Customer preference for ready, fresh food and beverages packed in various sized trays and cups under low-oxygen MAP is fueling the growth of the global high barrier lidding films market.
However, environment as the biggest concern over the years, Biodegradability has emerged as major challenges and has hampered the growth of high barrier lidding films market to a large extend. With various government and non-government organizations continuously promoting the development of bio-based materials, it has also emerged as a significant opportunity for market players to develop biodegradable high barrier lidding films.
High Barrier Lidding Film Market: Regional Overview
Geographically, the high barrier lidding film market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). Among the regions, Europe and North America dominates the worldwide market for high barrier film packaging both in terms of demand and supply.
Higher demand for package food and beverages, presence of supermarkets and hypermarkets in almost every city are some of the primary reason for the growth of high barrier lidding films market in this region. The Asia-Pacific market is estimated to grow as the most lucrative market for the growth of high barrier lidding films. This increase is attributed to the growth in demand for packaged food, beverages and pharmaceuticals industry from the developing economies such as India and China.
Likewise, the sustainable increase in demand of the packaged ready to eat food with increase shelf life in the Middle-East and Africa region is expected to boost the demand for high barrier lidding films in this region. Overall, the high barrier lidding films market is estimated to witness a healthy CAGR over the forecast period.
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High Barrier Lidding Film Market: Key Players
Some of the key players that operate in the high barrier lidding film market across the globe are: Bemis Company, Inc. , DuPont Teijin Films U.S Limited Partnership, TCL Packaging Ltd, Golden Eagle Extrusions, Inc., Sealed Air Corporation, Toray Plastics (America), Inc., Schur Flexibles Holding GesmbH , Multi-Pastics, Inc., Mondi Group and Clifton Packaging Group Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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High Barrier Lidding Film: Market Segmentation
High Barrier Lidding Film Market by Product Type:
High Barrier Lidding Film Market by Material Used:
High Barrier Lidding Film Market by Application:
High Barrier Lidding Film Market by Region:
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May 05, 2023
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