Global Shrinkable Lidding Films Market Size By Type(Printed, Non-Printed, Peelable, Breathable & High Barrier), By Application(Food & Beverages Industry, Pharmaceutical Industry, Personal care), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal Shrinkable Lidding Films Market Size By Type(Printed, Non-Printed, Peelable, Breathable & High Barrier), By Application(Food & Beverages Industry, Pharmaceutical Industry, Personal care), By Geographic Scope And Forecast
Shrinkable Lidding Films Market Size And Forecast
Shrinkable Lidding Films Market size was valued at USD 2.9 Billion in 2024 and is projected to reach USD 4.73 Billion by 2031, growing at a CAGR of 5.9 % during the forecast period 2024-2031.
The Global Shrinkable Lidding Films Market is expected to grow at a significant rate over the forecast period. The growing demand for convenient and attractive packaging solutions, increasing demand for packaged food and beverages, and rising consumer awareness about food safety and hygiene are some of the key factors driving the growth of the market. The food and beverage industry is expected to remain the largest application segment for shrinkable lidding films.
Global Shrinkable Lidding Films Market Definition
The Global Shrinkable Lidding Films Market refers to the industry that produces and sells films that are used as lid covers for various types of containers, including trays, cups, and jars, which are primarily made of materials such as plastic, glass, and metal. Shrinkable lidding films are an essential packaging material used in various industries, including food and beverage, pharmaceuticals, and cosmetics. In the food and beverage industry, these films are used to provide an airtight seal on trays, cups, and containers, ensuring the products’ freshness and extending their shelf life.
The films are also used in the pharmaceutical industry to provide a secure seal on medication packaging, ensuring the integrity of the products during transport and storage. In the cosmetics industry, shrinkable lidding films are used to seal jars and bottles, preserving the products’ quality and preventing contamination. Overall, the Global Shrinkable Lidding Films Market is crucial for various industries that require secure and reliable packaging solutions.
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Global Shrinkable Lidding Films Market Overview
The increasing demand for convenience food and ready-to-eat meals is driving the demand for shrinkable lidding films, which are used extensively in food packaging. The growing trend towards sustainable and eco-friendly packaging solutions is boosting the demand for shrinkable lidding films made from biodegradable and compostable materials. The increasing adoption of modern retail formats such as supermarkets and hypermarkets is driving the demand for shrinkable lidding films, which are used extensively in the packaging of fresh fruits and vegetables, meat, poultry, and seafood. Furthermore, the rising popularity of on-the-go snacking is driving the demand for small-sized packaging, which is leading to the increased adoption of shrinkable lidding films. Lastly, technological advancements in packaging materials and techniques are leading to the development of innovative and cost-effective shrinkable lidding films, which are further fueling the growth of the market.
The Global Shrinkable Lidding Films Market presents several opportunities for growth and expansion. Firstly, the increasing focus on sustainable packaging solutions presents a significant opportunity for the market. Manufacturers can capitalize on this trend by developing shrinkable lidding films made from biodegradable and compostable materials, which are eco-friendly and help reduce the environmental impact of packaging waste. Secondly, the growing demand for fresh and processed foods in developing economies presents a significant opportunity for the market. As the demand for food products increases, so does the demand for packaging solutions, including shrinkable lidding films. Manufacturers can target these emerging markets by developing cost-effective and innovative shrinkable lidding films that meet the specific requirements of these markets.
Thirdly, the trend towards on-the-go snacking and the rising popularity of single-serve packaging presents an opportunity for the market. As consumers increasingly seek out smaller packaging sizes for convenience, manufacturers can develop shrinkable lidding films that are tailored to these needs. The increasing adoption of advanced packaging technologies, such as modified atmosphere packaging and active packaging, presents an opportunity for the market. Shrinkable lidding films can be used in conjunction with these technologies to extend the shelf life of food products and enhance their overall quality, which can further drive the demand for these films. The Global Shrinkable Lidding Films Market faces several restraints that could hinder its growth and development. Firstly, environmental concerns pose a significant challenge to the market. The excessive use of plastic shrinkable lidding films can contribute to plastic waste, which can be harmful to the environment.
As consumers become increasingly aware of the impact of plastic waste on the environment, they may switch to alternative packaging solutions, which could reduce the demand for shrinkable lidding films. Secondly, regulations and compliance can be significant restraints for manufacturers of shrinkable lidding films. There are various regulations and compliance standards that manufacturers must adhere to, which can be costly and time-consuming. Compliance with these regulations may require manufacturers to use specific materials or adhere to certain manufacturing processes, which can add to the cost of production. The market faces stiff competition from alternative packaging solutions such as rigid packaging and flexible packaging. Manufacturers must compete with these alternative solutions in terms of cost, performance, and sustainability. This can make it challenging for shrinkable lidding films to gain market share and remain competitive.
Global Shrinkable Lidding Films Market Segmentation Analysis
The Global Shrinkable Lidding Films Market is segmented based on Type, Application, And Geography.
Shrinkable Lidding Films Market, By Type
- Printed
- Non-Printed
- Peelable
- Breathable
- High-Barrier
Based on the Type, the market is bifurcated into Printed, Non-Printed, Peelable, Breathable & High Barrier. Printed and non-printed shrinkable lidding films are the most commonly used types. Printed shrinkable lidding films are designed to enhance the visual appeal of the product and can be customized with graphics, logos, and text, making them popular in the food and beverage industry. Non-printed shrinkable lidding films are typically used for more basic packaging applications where visual appeal is not a primary concern. Peelable shrinkable lidding films are designed to be easily removed by the end-user, typically for convenience or safety reasons. Breathable shrinkable lidding films are used in applications where it is important to control the level of moisture or oxygen inside the package, such as for fresh produce or meat products. High-barrier shrinkable lidding films are designed to provide enhanced protection against external factors such as moisture, oxygen, and light, which can extend the shelf life of the product. Segmentation based on the type of film used can help companies understand the specific needs and preferences of their target audience and develop products and solutions that meet those needs.
Shrinkable Lidding Films Market, By Application
- Food & Beverages Industry
- Pharmaceutical Industry
- Personal Care and Cosmetic Industry
Based on Application, the Global Shrinkable Lidding Films Market has been segmented into Food & Beverages Industry, Pharmaceutical Industry, Personal care, and Cosmetic industry. The food and beverage industry is the largest user of shrinkable lidding films, which are used for packaging various products such as dairy products, fresh produce, meat, poultry, and seafood. Shrinkable lidding films are also used in the pharmaceutical industry for packaging medicines and medical devices. They can provide a secure, tamper-evident seal and protect the contents from moisture and other environmental factors. Another growing application of shrinkable lidding films is in the personal care and cosmetic industry. They can be used to package a wide range of products such as shampoo, lotions, and creams, providing an attractive and functional packaging solution. The use of shrinkable lidding films is also growing in the industrial sector for the packaging and protection of various products during transportation and storage. Segmentation based on an application can help companies identify the specific needs and requirements of each industry and develop customized solutions that meet those needs.
Shrinkable Lidding Films Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Based on Geographical analysis, the Global Shrinkable Lidding Films Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America and Europe are the largest markets for shrinkable lidding films, driven by the high demand for packaged foods and beverages in these regions. In addition, the strict food safety regulations in these regions have increased the demand for high-quality and safe packaging solutions. The Asia Pacific region is a growing market for shrinkable lidding films, driven by the increasing population, rising demand for packaged foods, and growing awareness about food safety. Latin America and the Middle East and Africa are also growing markets for shrinkable lidding films, driven by the increasing disposable income of consumers and the growing food and beverage industry in these regions. Segmentation based on geography can help companies understand the regional market trends, consumer preferences, and regulatory landscape, allowing them to develop products and solutions that cater to the specific needs of each market.
Key Players
The major players in the market are; Sealed Air Corporation, Berry Global Inc, Amcor plc, Winpak Ltd., Dow Inc., Cosmo Films, Coveris, Flexopack SA, Mondi Group, and Bollore Films among others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Key Developments
- In February 2019, Sealed Air Corporation launched Cryovac Darfresh One-Step, a new vacuum skin packaging system that uses shrinkable lidding films to extend the shelf life of fresh meats and seafood.
- In August 2020, Berry Global Inc. announced the launch of its new line of compostable shrinkable lidding films made from polylactic acid (PLA) material.
- In October 2020, Amcor plc announced the acquisition of Bemis Company, Inc., a leading manufacturer of shrinkable lidding films and other packaging solutions.
- In January 2021, Winpak Ltd. announced the launch of its new line of high-barrier shrinkable lidding films for fresh and processed meats, poultry, and cheese.
- In November 2022, Dow Inc. announced the launch of its new line of polyethylene (PE) shrinkable lidding films for fresh produce, dairy, and meat packaging applications.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Sealed Air Corporation, Berry Global Inc, Amcor plc, Winpak Ltd., Dow Inc., Cosmo Films, Coveris, Flexopack SA, Mondi Group, and Bollore Films among others. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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