Global Lidding Films market will register a CAGR of over 6.5% during the period from 2020 to 2026.
Lidding Films Market
The global Lidding Films market will register a CAGR of over 6.5% during the period from 2020 to 2026. The report offers assessment and analysis of the Lidding Films market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Lidding films are utilized for packaging trays, tubs, bowls, and cups as a result of their toughness, tensile strength, heat resistance, and stability. Rapidly altering lifestyles coupled with changing economic structure has resulted in escalating demand for organized retail activities and this will steer the product penetration in hypermarkets and supermarkets. Apparently, the surge in the investment for branding of newly introduced items by food service firms will drive the product demand in the years to come.
Market Growth Dynamics
The growth of the market over the forecast timespan is due to rise in the need of food packaging leading to surge in the product sales and this, in turn, will spur the market size in the upcoming years. Apparently, lidding films industry growth is favorably influenced due to rapidly changing life patterns of the people in the emerging economies globally. A surge in requirement for fresh foods along with bulging population has resulted in the need for packaging, thereby creating new growth avenues for the market over the forecast timespan.
Moreover, lidding films help in retaining the freshness as well as taste of food for an elongated duration and this will embellish the expansion of the market over the forecast timeline. Nonetheless, lidding films cannot protect food from physical or chemical damage and this can prove to be detrimental to the market growth in the foreseeable future.
Asia Pacific To Evolve As A Major Market Over 2020-2026
The growth of the market in Asia Pacific over the forecast timespan is due to rapid industrialization in the countries like India and China. In addition to this, easy access to raw materials coupled with reduced labor charge will leverage the market expansion. Japan, Indonesia, and Australia are expected to be some of the major regional revenue markets over the ensuing years.
Key players profiled in the report include Toray Plastics (America), Inc., Linpac Packaging Limited, Clifton Packaging Group Ltd, Amcor Limited, Constantia Flexibles Group GmbH, Ampac Packaging LLC, Plastopil Hazorea Company Ltd., Bemis Company, Inc., Wipak Walsrode GmbH & Co. KG, Sealed Air Corporation, The Mondi Group, Berry Plastics Corporation, Schur Flexibles Holding GembH, Uflex Ltd, and Impak Films Pty Ltd.
The global lidding films market is segmented as follows:
Lidding films industry growth is favorably influenced due to rapidly changing life patterns of the people in the emerging economies globally.
The CAGR of the industry is expected to be nearly over 6.5% during the forecast time.
Asia Pacific will contribute remarkably towards the global market share over the estimated timeframe.
The key market players include Linpac Packaging Limited, Amcor Limited, Ampac Packaging LLC, Bemis Company, Inc., Sealed Air Corporation, The Mondi Group, Berry Plastics Corporation, Constantia Flexibles Group GmbH, Toray Plastics (America), Inc, Wipak Walsrode GmbH & Co. KG, Schur Flexibles Holding GembH, Uflex Ltd, Plastopil Hazorea Company Ltd., Clifton Packaging Group Ltd, and Impak Films Pty Ltd.