Food packaging is a crucial factor in the overall manufacturing process. The packaging is already known as a silent salesman for manufacturers still, contamination at the packaging stage is time and again overlooked because when it comes to food safety, we normally place the stress on the preparation of the food itself. Lidding is popularly used as a closure on plastic bowls, cups, or trays that hold products such as yogurt, soup, meats, cheese, and many other food products. High barrier lidding is often a laminated construction, made up of foil, paper, polyester, PET, or all kinds of other metalized and non-metalized materials that make up the film. They are designed to provide a safe condition to food products in order to increase their shelf life. They act as barriers to preserve the food quality and product integrity as packages made with plastic are permeable to gases, vapor, aromas, flavor, and additives.
The high barrier lidding films market is anticipated to observe a significant CAGR during the forecast period, i.e., 2020-2028. The market is segmented by product type, material used, end-use industry, and region. Among end-use segmentation, the food & beverage industry segment is anticipated to hold the largest market share in revenue terms during the forecast period as a result of increasing prevalence of packaged food & beverage among consumers owing to their busy lifestyle and preferences for convenience products.
This factor has been a major key driver for boosting the growth of the global packaging industry. Growth of packaged food & beverages along with a significant rise in the consumption of packaged meat is likely to drive the high barrier lidding films market in the forecast period.
Additionally, a rise in FDIs, and an increase in urbanization in the food & beverage sector, majorly in India, China, and South Korea are possible to provide significant opportunities to manufacturers of high barrier lidding films market. CLICK TO DOWNLOAD SAMPLE REPORT
Owing to the busy lifestyle of consumers, their constant demand for convenient products such as ready to eat products and microwave cooking can significantly drive the market growth.
These high barrier films are engaged in the packaging of healthcare and medical products. As a result of rising awareness for a healthy lifestyle and increase in disposable income in the developing countries, the demand for these films is expected to show inclination in the future.
An increase in the demand for high-quality cosmetics and personal care products in developing countries is expected to drive the demand for high barrier lidding films during the forecast period.
Further, the growing dominance of large retail chains in developing countries, technological developments, applications where longer shelf life is needed, and government initiatives in order to promote the development of bio-degradable materials also offers significant opportunities for market players to develop high barrier lidding films.
Mechanical recycling hampers the growth of the market as many multi-layered barrier film structures comprises of more than one type of plastics, making it difficult to recycle.
Furthermore, sensitivity to degradation, high cost, and consumers preferring eco-friendly products are some other key factors that might hamper the growth of the market.
Our in-depth analysis of the high barrier lidding film market includes the following segments:
Geographically, the high barrier lidding film market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Europe and North America dominate the global market share of high barrier lidding films owing to substantial demand and supply. Further, the rising demand for packaged food & beverages and the presence of supermarkets and hypermarkets in almost all the cities is driving the growth in this region.
The Asia-Pacific region is anticipated to be as the most profitable region in the forecast period as a result of increasing demand for packaged food & beverages, rising consumption of personal care products, and cosmetics along with the development in pharmaceutical industries majorly in countries such as South Korea, India, and China. They are likely to create a notable demand for high barrier lidding films.
Furthermore, the increasing demand for pre-cut meat and ready to use packaged food & beverages with increased shelf life in Latin America, and the Middle East & Africa region is expected to drive the demand for high barrier lidding films during the forecast period.
The high barrier lidding film market is further classified on the basis of region as follows:
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