Global High Barrier Lidding Film Market Estimated at US$ 2.3 Billion in 2023, Anticipating Growth to US$ 4.1 Billion by 2033 at 4.6% CAGR | FMI
Businesses are recognizing the need to adapt as consumer knowledge of the significance of eco-conscious decisions rises, not just to comply with legal requirements but also to fit with the preferences of a sustainability-conscious customer base. As a result, the packaging industry's transition to a more environmentally responsible future increasingly depends on eco-friendly lidding films.
Customer Demand for Sustainability Risks High Barrier
Lidding Films
As sustainability gains popularity, environmental concerns
impact the high barrier lidding film market. Due to their unfavorable
environmental effects, plastic packaging materials such as high barrier lidding
films are being scrutinized more closely. The industry is pressured to use less
plastic and adopt eco-friendly alternatives due to government and consumer
advocacy for greener alternatives.
Due to the growing demand for sustainability, the market
growth of conventional high barrier films is being constrained. This has forced
producers to look at more eco-friendly packaging options and invest in them to
meet changing consumer demands and lessen their environmental impact.
“The market is expected to expand rapidly due to the
rising need for food packaging solutions that preserve product freshness and
improve shelf life. Due to developing sustainability concerns, eco-friendly
options may gain popularity and change the business environment.” - Ismail Sutaria (Lead Consultant, Packaging and
Materials)
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Key Takeaways
- The
PET segment of the material category is to grab a share of 35.6% by 2033.
- In the
end-use category, the food segment accounts for a market share of 42.1%
during the forecast period.
- By
2033, Italy market is expected to possess a 4.8% share.
- By
2033, Canada anticipates capturing a 3% market share.
- The
United States high barrier lidding film market is forecast to have an
18.5% market share by 2033.
- By
2033, Germany is expected to hold 6.8% of the market share.
- Japan's
market share is expected to reach 4.1% by 2033.
- The
market in France may acquire a share of 4.5% until 2033.
- Until
2033, China may grab a high barrier lidding film market share of
13.9%.
- The
India market is going to continue to hold a share of 5.3% through 2033.
- Until
2033, the market in the United Kingdom is anticipated to grab a share of
3.3%.
- The
Spain market is going to acquire a share of 4.0% through 2033.
- The
South Korean market is expected to have 1.9% of the market share by 2033.
- By
2033, Thailand is anticipated to hold 2.1% of the market share.
Competitive Landscape
Leading high barrier lidding film manufacturers make up
a modest 10% to 15% of the market, characterized by fragmentation.
Prospects for growth include:
- Establishing
a more robust market presence through mergers and acquisitions.
- Researching
untapped markets.
- Taking
advantage of new developments in consumable supplies for cytology and
histology.
These developments fuel high barrier lidding film market
expansion within the target industry, opening doors for businesses to solidify
their positions and increase their market share.
Noteworthy Advancements
- In
July 2021, Bemis worked with several leading rivals in the industry to
help determine the future of apparel innovation while demonstrating its
dedication to ethical business practices.
- Kaladex
polyethylene naphthalate (PEN) high-performance polyester films for
demanding applications to again be available, according to a May 2021
announcement from DuPont Teijin Films.
Essential High Barrier Lidding Film Manufacturers:
- Bemis
Company, Inc.
- DuPont
Teijin Films US Limited Partnership
- TCL
Packaging Ltd
- Golden
Eagle Extrusions, Inc.
- Sealed
Air Corporation
- Toray
Plastics (America), Inc.
- Schur
Flexibles Holding GesmbH
- Multi-Pastics,
Inc.
- Mondi
Group
- Clifton
Packaging Group Ltd
Key Segments:
By Product Type:
- Cup
- Tray
- Top-Web
By Material:
- Polyethylene
(PE)
- Polypropylene
(PP)
- Polyethylene
Terephthalate (PET)
- Polyvinyl
Chloride (PVC)
By End Use:
- Food
and Beverages
- Pharmaceuticals
- Cosmetics
- Consumer
Goods
By Region:
- North
America
- Latin
America
- Europe
- Asia
Pacific
- The
Middle East and Africa
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