Global lidding film market is expected to grow at a compound annual growth rate of 5.01% to reach a market size of US$3,262.763 million by 2024 from US$2,433.333 million in 2018. Lidding films are used for covering food products stored in containers to extend their shelf life and avoid contamination. These are light in weight and suitable for packaging. The major industries driving the market for lidding films are food & beverage, pharmaceutical and cosmetics among other items. The increasing food & beverage industry is expected to augment the market growth for lidding films. Further technological innovations like introduction of eco-friendly lidding films is anticipated to create growth opportunities for the lidding films market. However, the government regulations regarding the use of plastics is expected to hamper the market growth. Asia-Pacific is expected to be a prominent region owing to the increasing food & beverage sector in the region. North America and Europe are also anticipated to hold a significant share in the market during the forecast period.
Rising demand for customer friendly packaging.
Increasing demand for products with longer shelf life.
Growing food & beverage sector.
Government regulations regarding use of plastics.
The major players profiled in the lidding films market include Sealed Air Corporation, Toray Plastics (America) Inc., ProAmpac, Plastopil Ltd, Berry Global Inc., Multi-Plastics Inc., and Golden Eagle Extrusions Inc., among others.
The lidding films market has been analyzed through the following segments:
Food and Beverage
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the lidding film market size by 2024?
A1. Global lidding film market is expected to reach a market size of US$3,262.763 million in 2024.
Q2. What is the size of global lidding film market?
A2. The lidding film market was valued at US$2,433.333 million in 2018.
Q3. What are the growth prospects for lidding film market?
A3. The global lidding film market is expected to grow at a CAGR of 5.01% during the forecast period.
Q4. What factors are anticipated to drive the lidding film market growth?
A4. The major industries driving the market for lidding films are food & beverage, pharmaceutical, and cosmetics among other items.
Q5. Which region holds the largest market share in the lidding film market?
A5. Asia-Pacific is expected to be a prominent region owing to the increasing food & beverage sector in the region.