Market Analysis
The global PET lidding films market size is predicted to touch USD 995.4 million at a 6.7% CAGR between 2022- 2030 states the recent Market Research Future (MRFR) analysis. PET lidding films are films mostly used in a flexible packaging solution for covering cups, trays, bottles, jars, and many other containers due to its alluring properties such as stability, high tensile strength, and heat resistance. Resealable/reclosable films, breathing lidding films, high barrier lidding films, specialty lidding films, and dual-ovenable lidding films are the different PET lidding films that have wide applications in food and beverage, personal care and cosmetics, pharmaceutical, and others.
Various factors are propelling the global PET lidding films market share. As per the current MRFR report, such factors include the burgeoning demand for convenience and processed food, booming food and beverage industry, increasing working population, growing demand for dairy products, rising consumption of food products that are conveniently packaged. Additional factors adding market growth include rising penetration of franchise food organizations, growing retail industry, and growing demand for processed food and food home delivery during the current COVID-19 pandemic.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global PET lidding films market report based on end use, application, and product type.
By product type, the global PET lidding films market is segmented into resealable/reclosable films, breathing lidding films, high barrier lidding films, specialty lidding films, and dual-ovenable lidding films. Of these, the high barrier lidding films segment will lead the market over the forecast period as this works wonders to extend the product’s shelf life via maintaining product freshness.
By application, the global PET lidding films market is segmented into jars and bottles, cups, trays, and others. Of these, the trays segment will dominate the market over the forecast period, followed by cups.
By end user, the global PET lidding films market is segmented into food and beverage, personal care and cosmetics, pharmaceutical, and others. Among these, the food and beverage segment will have a major share in the market over the forecast period.
Regional Analysis
Based on the region, the global PET lidding films market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, the Rest of the World (RoW). Of these, Europe will spearhead the market over the forecast period. Increasing growth in the packaging of pharmaceutical, food, and beverage products is adding to the global PET lidding films market growth in the region. Germany, France, and the UK have a maximum share in the market.
The global PET lidding films market in North America is predicted to have the second-largest share over the forecast period. Rising investments in RD, increasing focus to incorporate innovations in packaging methods, and burgeoning demand for packaged food are adding to the global PET lidding films market growth in the region.
The global PET lidding films market in the APAC region is predicted to have sound growth over the forecast period. The penetration of retail outlets is adding to the global PET lidding films market growth in the region. China and India have the maximum share in the market for its increasing scope for rapid industrialization.
The global PET lidding films market in the ROW is predicted to have steady growth over the forecast period.
Key Players
Eminent players profiled in the global PET lidding films market report include Clifton Packaging Group Limited (UK), Sealed Air Corporation (US), Berry Global INC (US), Mondi (Austria), Amcor PLC (Australia), Impak Films Pty. Ltd (Australia), Wipak Walsrode Gmbh Co. Kg (Germany), Plastopil (Israel), and Uflex LTD (India), among others.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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