The peelable lidding films market is predicted to reach an estimated value of US$ 3.6 billion in 2023 and continue to grow at a CAGR of 4.7% to reach US$ 5.4 billion by the year 2033, according to research from Future Market Insights. With the top 5 suppliers controlling 15-20% of the worldwide peelable lidding films market in 2022, peelable lidding films sales are expected to increase.
According to the material, the Polyethylene (PE) sector is anticipated to continue to dominate the market for peelable lidding films worldwide. By the end of 2023, the same market segment is anticipated to hold about 24% of the market value share. The global peelable lidding films market holds around 1-3% of the global packaging films market worth US$ 144 Bn in 2022.
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The peelable lidding films market is expected to experience positive growth during the forecast period. A new projection of FMI forecasts that peelable lidding films sales will rise during 2023-2033 and is projected to generate an attractive incremental growth opportunity of US$ 2.1 Bn.
The increased consumption of ready-to-eat food products is the major factor propelling the demand for the peelable lidding films market across the globe. The peelable lidding films market is projected to grow 1.6x the current market value during 2023-2033.
Competitive Landscape
The key players operating in the peelable lidding films market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new sustainable and innovative products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand.
Key Companies Profiled
- Clondalkin Group Holdings B.V.
- Flair Flexible Packaging Corporation
- Plastopil Hazorea Company Limited
- Schur Flexibles Holding GesmbH
- LINPAC Packaging Limited
- Winpak Limited
- Berry Global Group Inc.
- KM Packaging Services Limited
- TCL Packaging Limited.
- Flexopack SA
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Market for Peelable Lidding Films: Historical Market Outlook
The market for peelable lidding films experienced a CAGR of 2.5% from 2018 to 2022, reaching US$ 3.4 Mn in that year.
The market for peelable lidding films is going to depend heavily on innovation and technological improvement. Due to their high barrier qualities and flawless print finish, peelable lidding films are preferred by food, personal care & cosmetics, and pharmaceutical producers, thus fueling the growth of the peelable lidding films market globally.
Manufacturers and brand owners can transition to environmentally friendly packaging thanks to the growing trend of creative and sustainable packaging solutions and customers’ desire to lessen the environmental impact of the packaging.
Which is the Leading Product Type Segment in the Peelable Lidding Films Market?
The high barrier lidding films segment is projected to be the most attractive product in the global peelable lidding market. High barrier lidding films are anticipated to remain the leading segment, holding around 52.5% of the peelable lidding films market by 2033. The excellent barrier protection provided by high barrier peelable lidding films helps in product protection and quality preservation. During the transit, it prevents wastage of products, thus the manufacturers can supply their products to distant markets.
Peelable Lidding Films Market by Category
By Product Type, Peelable Lidding Films Market is segmented as:
- Dual Ovenable Lidding Films
- Specialty Lidding Films
- High Barrier Lidding Films
- Breathable Lidding Films
- Die-Cut Lidding Films
By Material, Peelable Lidding Films Market is segmented as:
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polyamide (PA)
- Ethylene Vinyl Alcohol (EVOH)
- Aluminium
- Others (Polystyrene (PS), Polyethylene Terephthalate (PET), etc.)
By End Use, Peelable Lidding Films Market is segmented as:
- Food
- Beverages
- Pharmaceutical
- Personal Care & Cosmetics
- Other Consumer Goods
By Region, Peelable Lidding Films Market is segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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