NEW YORK, Dec. 7, 2021 /PRNewswire/ -- The rising focus on improving the shelf life of products is one of the drivers for the growth of the lidding films market. The market is expected to grow by USD 1.36 bn from 2021 to 2026. The growth momentum of the market will accelerate at a CAGR of 6.50%.
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Lidding Films Market: Driver
The rising focus on improving the shelf life of products is driving the growth of the market. Products with high shelf life can be kept for sale for a longer time, thereby reducing wastage. Perishable products such as food, beverages, and medicines can be easily transported if they have a long shelf life. Lidding films tightly seal the packaging, which keeps air, moisture, and other substances from entering.
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Lidding Films Market: Segmentation Analysis
The lidding films market has been segmented by end-user (food and beverage, pharmaceutical, personal care and cosmetics, and others) and geography (North America, Europe, APAC, South America, and MEA).
The food and beverages segment will have significant market share growth during the forecast period. Factors such as increased agricultural production, improvements in food processing technology, and changing consumer food consumption patterns are driving the growth of this industry in various countries. Exports of food and beverages have also increased in regions such as North America, the Middle East, and Southeast Asia. Rise in production and export of food and beverage increases the demand for high-quality packaging.
North America is expected to account for 45% of the market's growth during the forecast period, with the US being the key market. The changing lifestyle of consumers and the rising consumption of fast food and packaged food will drive the lidding films market growth in the region during the forecast period.
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- Food Packaging Market: The food packaging market has been segmented by product (flexible plastic, rigid plastic, glass, metal, and others) and geography (APAC, Europe, North America, South America, and MEA). Download Free Sample Report
- Healthcare and Laboratory Labels Market: The healthcare and laboratory labels market has been segmented by end-user (pharmaceutical, nutraceutical, medical devices, laboratory, and others) and geography (APAC, Europe, North America, South America, and MEA). Download Free Sample Report
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Lidding Films Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6.50%
Market growth 2022-2026
USD 1.36 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 45%
Key consumer countries
US, UK, China, Germany, and France
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Amcor Plc, Berry Global Group Inc., FFP Packaging Ltd, FLAIR Flexible Packaging Corp., Golden Eagle Extrusions, Inc., Impak Films Pty. Ltd., Multi Plastics Inc., Plastopil Hazorea Co. Ltd, UFlex Ltd., and Wipak Group
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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