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

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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

Okay, so people are really busy these days and want food that's quick and easy, right? That's a big reason why we're seeing more and more shrinkable lidding films used to wrap up our meals. Plus, everyone's trying to be a bit greener, which means there's a push for lidding films made from stuff that can actually break down and compost. Think about all those fresh fruits and veggies, meats, and seafood at your local supermarket – lots of that is packaged using shrinkable lidding too! And let's not forget snacking! The whole "on-the-go" thing means more small packages, which again, boosts demand for these films. Lastly, clever new packaging tech keeps popping up, giving us better and cheaper lidding films, and that's only making the market grow even faster.

Okay, so here's the dealThe Global Shrinkable Lidding Films Market is ripe with possibilities! First off, everyone's going green, right? That's a huge chance for us. Imagine creating shrinkable lidding films that actually break down naturally – biodegradable or compostable stuff. That's super eco-friendly and really cuts down on waste. Secondly, think about all those developing countries – they're hungry for fresh and processed foods! More food means more need for packaging, like our amazing shrinkable lidding films. We can really hit it big there by designing budget-friendly, totally innovative films that are perfect for what they need.

Okay, so get thisall those snacks we're grabbing on the run? And the way everything comes in single-serve packs these days? That's a huge opening for shrinkable lidding films! Since everyone wants smaller, easier packaging, companies can make films specifically designed for that. Plus, fancy tech like modified atmosphere packaging and active packaging is getting more popular, and these films work great with them. They can help keep food fresher for longer, making them even more appealing. But, it's not all sunshine and roses. The Global Shrinkable Lidding Films Market does have some hurdles. First off, everyone's worried about the environment. All that plastic from shrinkable lidding films can create a ton of waste, and that's definitely not good for the planet.

More and more people are realizing how much plastic waste hurts the planet, so they might start choosing different types of packaging. That could mean less demand for shrinkable lidding films. Also, regulations can be a real headache for the companies that make these films. They have to follow a bunch of rules and meet certain standards, which can cost a lot of money and take up a lot of time. To stay compliant, they might need to use specific materials or production methods, which just adds to the price. And let's not forget the competition! There are other packaging options out there, like rigid and flexible packaging, that they have to compete with on cost, performance, and how eco-friendly they are. All of this makes it tough for shrinkable lidding films to get ahead and stay relevant in the market.

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

Think of shrinkable lidding films like thisdepending on the Type, the market is split into things like Printed, Non-Printed, Peelable, Breathable, and High Barrier options. Printed and non-printed films are your everyday workhorses. Printed films really jazz up your product with custom designs, logos, you name it – that's why the food and beverage industry loves them! Non-printed films are more for simple packaging where you don't need all the bells and whistles. Need something easy to open? That’s where Peelable films come in. If you're packing fresh produce or meat, you might want Breathable films to manage moisture and oxygen levels. And for ultimate protection against the outside world, there are High-barrier films to extend shelf life. By understanding these different film types, companies can really nail down what their customers want and create packaging that hits the mark.

Shrinkable Lidding Films Market, By Application

  • Food & Beverages Industry
  • Pharmaceutical Industry
  • Personal Care and Cosmetic Industry

So, how are shrinkable lidding films used? Well, depending on the Application, the market breaks down into a few key areasthe Food & Beverages Industry, the Pharmaceutical Industry, Personal care, and even the Cosmetic industry. Food and beverage companies are the biggest fans, using these films to wrap everything from dairy to fresh veggies to meat and seafood. But it's not just food! The pharmaceutical industry relies on them too, for medicines and medical devices, because they give a secure, tamper-proof seal and keep moisture out. And don't forget the personal care and cosmetics folks – they're using shrinkable lidding films more and more for things like shampoo, lotions, and creams, as it looks good and works well. Even the industrial sector is getting in on it, using them to protect products during shipping and storage. Breaking it down by application like this helps companies figure out exactly what each industry needs, so they can create packaging solutions that are a perfect fit.

Shrinkable Lidding Films Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Okay, so when we look at where shrinkable lidding films are used around the globe, we can break it down by regionNorth America, Europe, Asia Pacific, and then basically everywhere else. Right now, North America and Europe are the big players. That's mostly because people there buy a lot of packaged foods and drinks. Plus, they have pretty serious rules about food safety, so companies need top-notch, safe packaging. Asia Pacific is catching up fast, though! With more people, a bigger appetite for packaged stuff, and a growing awareness of food safety, the demand there is rising. And don't forget Latin America and the Middle East & Africa! They're also seeing growth because people have more money to spend and the food and beverage industry is booming. By understanding these regional differences, companies can figure out what people in each area want and need, and make sure they're following all the local rules.

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 ATTRIBUTESDETAILS
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
  • By Type
  • By Application
  • By Geography
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