The global dual ovenable lidding films market share was estimated to be worth around US$ 67.6 million in 2016. Then in the following years, it registered a CAGR of 3% until 2022 and reached an overall valuation of US$ 82.5 million by its end.
As per the newly released global dual ovenable lidding films market analysis report by FMI, in the present year 2023, the net worth would be US$ 84.7 million. Then in the coming ten years, the sales of dual ovenable lidding films would experience year-on-year growth of 5.3%. Then by the conclusion of this forecast period in 2033, the net valuation of the market is poised to reach US$ 142.3 million.
Sales of dual ovenable lidding films have become increasingly profitable as a result of packaged F&B industries worldwide. The dual-lidding films have a number of beneficial qualities that improve their popularity among end consumers and have boosted the market’s traction in recent years.
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Key Takeaways from the Dual Ovenable Lidding Films Market Study Report
- By acquiring a share of almost 32.3% of the revenue generated by the global market, the United States remained the top-performing regional market. In the previous year 2022, the net valuation of the United States dual ovenable lidding films market was US$ 26.6 million.
- With an overall share of 7.8% of the global market, the German dual ovenable lidding films market is the top-performing market in Europe. The revenue generated by this regional market out of sales of dual ovenable lidding films was nearly US$ 6.4 million in 2022.
- China continues to be the leading market for sales of dual ovenable lidding films in the Asia Pacific region and accrued US$ 6 million from it in 2022. Moreover, the Chinese dual ovenable lidding films market is projected to experience a higher growth rate at about 7.1% through 2033.
- Likewise, India is another significant region with higher demand for dual ovenable lidding films these days which contributes 2% of the revenue generated by the global market. The overall regional market was valued at US$ 1.7 million in the year 2022 and is projected to progress at a 5.5% growth rate over the forecast years.
- Based on material type, the CPET or crystallized PET dual ovenable lidding films are the dominant segment with a market share of 72.3%. On the other hand, Polyethylene terephthalate (PET) and polypropylene (PP) material segments are also getting higher traction recently.
- Based on seal type, the peelable seals for dual ovenable lidding films are the most preferred segment and contributed almost 96.5% of the product in 2022.
Competitive Landscape for the Dual Ovenable Lidding Films Market Players
Amcor PLC., Berry Global, Inc., Sealed Air Corporation, Sonoco Products Company, Schur Flexibles Holding GMBH, Toray Plastics (America), Inc, DuPont Teijin Films U.S. Limited Partnership, Terphane Inc, Flair Flexible Packaging Corporation, Alert Packaging Ltd., Sirane Ltd., Clifton Packaging Group Ltd., Coveris, Inc., Multi-Plastics Extrusions, Inc., and FFP Packaging Ltd. Among others are some of the major players in the global dual ovenable lidding films market.
In May 2021, a brand-new KPeel series of cutting-edge lidding films was launched by KM Packaging Services Ltd. to fulfill the rising demand for ecologically responsible packaging choices. It provides its customers with a high-performance “seal and peels” option for trays built of the compressed board and recyclable pulp.
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Dual Ovenable Lidding Films Market by Category-
By Material Type:
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Crystallizable PET (CPET)
- Amorphous PET (APET)
- Recycled PET (RPET)
- Polypropylene (PP)
- Others
By Seal Type:
- Pealable Seal
- Easy Peal
- Medium Peal
- Hard Peal
- Very Hard Peal
- Permanent Seal
By Application:
- Prepared Meals
- Frozen Foods
- Meat Products
- Dairy Products
- Others
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