PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419025
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419025
Lidding Films Market size was valued at USD 4,105 Million in 2023, expanding at a CAGR of 6.2% from 2024 to 2032.
Lidding films are commonly utilized for sealing plastic containers, paperboard pints, or trays that hold various food items, including dairy products like sour cream and cottage cheese. Additionally, other products such as canned soups, meats, microwave dinners, and various foods packaged in rigid containers can also be packaged using lidding films. These films play a crucial role in preventing unnecessary food waste by significantly prolonging the shelf life of the products. The barrier film properties effectively shield the contents from exposure to substances that lead to food spoilage. For instance, top lidding films are applied to thermoformed rigid trays or used in the form, fill, and seal process for modified atmosphere packaging (MAP) and vacuum skin packaging (VSP). These top lidding films, which are highly resistant to permeation, possess special anti-fog properties that allow the products to breathe within the packaging without causing any fogging of the film. This creates a crystal-clear window for the products, making it particularly appealing to discerning consumers.
The market is expected to experience growth due to the increasing demand for packaged foods. This can be attributed to changing lifestyles and the rise of urbanization, which has led to a preference for convenient and ready-to-eat packaged meals. As a result, there is a higher need for effective packaging solutions, such as lidding films. According to statistics on ready-to-eat food consumption, nearly 36% of Americans consumed ready-to-eat meals in 2020. The global market for ready-to-eat meals is valued at USD 0.51 trillion. The growth of e-commerce and food delivery services has further fueled the demand for packaging solutions that ensure the safe transportation of goods. However, manufacturers may face challenges due to fluctuations in raw material prices and potential cost implications associated with producing advanced lidding films.
The Global Lidding Films Market is segmented on the basis of Product Type, Application, End-User, and Region.
The market is divided into six categories based on product type: Aluminum, Polyamide, Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP) and Polyvinyl Chloride (PVC). The market is primarily dominated by the Polyethylene Terephthalate (PET) segment. Lidding films have a significant impact on preserving the freshness and prolonging the shelf life of various products. When it comes to PET containers, lidding films that possess efficient barrier properties are instrumental in maintaining the overall quality of the packaged contents.
The market is divided into five categories based on application: Bottles, Cans, Cups, Jars and Trays. The market is largely dominated by the cups segment. Cups that hold perishable or delicate products might necessitate lidding films that possess distinct barrier properties. These properties safeguard against various factors such as moisture, oxygen, and UV light, effectively preserving the freshness of the product and prolonging its shelf life.
The market is divided into three categories based on End-User: Cosmetics, Food & Beverage and Pharmaceutical. The market is largely dominated by the Food & Beverage segment. Lidding films have a vital role in packaging food and beverage products, as they offer a protective and sealing layer for various containers such as trays, cups, and other packaging formats. The market for lidding films is experiencing growth due to the rising demand for packaged food and beverages in emerging economies with expanding middle-class populations.
Geographically, this market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in the business. The growth of the market is anticipated to be dominated by North America, due to the increasing consumer preference for lightweight and easy-to-use packaging options. North America boasts a well-established and continuously growing packaged food industry. The demand for efficient and lightweight packaging solutions, such as lidding films, is driven by the need for convenience in consuming ready-to-eat and on-the-go food products. According to the latest statistics on sustainable packaging, 66% of all consumers in the United States and 80% of adults under 34 willingly pay a premium for sustainable products. Furthermore, a recent online survey conducted by Ipsos revealed that 67% of American consumers prefer paper and cardboard packaging. Europe, on the other hand, is the second largest market, primarily due to the increasing adoption of ready-to-eat meals and convenience foods, which has driven the demand for lidding films as they provide a hygienic and tamper-evident packaging solution.
In emerging markets, where the food and beverage industry is witnessing growth, there is a high demand for lidding films. To expand their market presence, companies have the opportunity to explore all regions. The lidding films sector is highly competitive, with a wide range of manufacturers offering various solutions. Key players in this industry include both large multinational companies and smaller regional manufacturers. These companies strive to stand out by developing lidding films with improved features such as enhanced barrier properties, easier peel ability, or sustainable materials. To gain a competitive advantage, manufacturers may also provide customizable solutions to cater to the specific needs of different industries and products.
In June 2023, a new line of environmentally friendly lidding films from Parkside has been introduced to address the sustainability issues facing the packaging sector. The lidding film line includes recyclable monomers, paper-based solutions, and renewable and certified compostable films. It was introduced as part of Parkside's "Sustainable 7" product strategy.
The scope of this report covers the market by its major segments, which include as follows: