The global market for dual ovenable lidding films is poised for significant growth, with a projected CAGR of 5.6% from 2023 to 2033. This translates to a market value reaching nearly US$142.3 million by 2033, according to a new forecast by Future Market Insights (FMI).
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Market Recovery and Growth:
- Despite experiencing stagnant sales during the COVID-19 pandemic, the demand for dual ovenable lidding films is expected to surge gradually.
- By volume, the market is forecast to expand at a CAGR of 5.3%, reaching nearly 47 thousand tons by the end of 2033.
Key Drivers:
- Food Industry Expansion: The primary driver of the market is the application of these films in the food industry, particularly for convenience foods like prepared meals, frozen foods, and meat products.
- Urbanization Trends: The growing global population and increasing urbanization are driving demand for single-serve meals and convenient packaging solutions.
- Consumer Preferences: Consumers’ preference for processed foods and convenient meal options is expected to boost sales in the near future.
Sustainability and Regulations:
- Manufacturers are increasingly focusing on developing recyclable dual ovenable lidding films to meet growing consumer demand for sustainable packaging solutions.
- Stricter recycling regulations are also propelling the market towards more eco-friendly options.
Regional Markets:
- North America: North America is expected to remain a key market, with the United States holding a dominant share due to its large food processing industry and consumer preference for packaged foods.
- France: The French market is anticipated to experience moderate growth at a CAGR of 5.8%. The growth is attributed to the expansion of fast-food channels and the use of these films for packaging ready meals, frozen foods, and meat products.
Competitive Landscape
Key manufacturers contribute 30-35% of the global market. Strategic expansions and acquisitions are expected to gain traction throughout the forecast period in the moderately fragmented landscape.
Amcor PLC., Berry Global, Inc., Sealed Air Corporation, and Sonoco Products Company, Schur Flexibles Holding GMBH, Sirane Ltd. are the top players operating in the dual ovenable lidding films market. Furthermore, Coveris, Inc., Toray Plastics (America), Inc, DuPont Teijin Films and many others in the market hold 65-70% in the global dual ovenable lidding films market.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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