PET lidding films are a useful packaging and sealing option for a range of food and drink products, such as beverages, snacks, and meals that are ready to eat. These films’ rapid peelability, resealability, and strong barrier make them ideal for eating while on the go. To guarantee the spill-proof, hygienic, and safe transit of these delivery and takeout meals, PET lidding films are employed. PET lidding films are adaptable and can be made to fit trays, cups, containers, and bottles, among other package shapes. PET lidding films’ adaptability and versatility make them appropriate for a variety of e-commerce product categories.
According to SPER market research, ‘PET Lidding Films Market Size- By Product Type, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global PET Lidding Films Market is predicted to reach USD 1.15 billion by 2033 with a CAGR of 6.94%.
Drivers: The growing number of working people is driving the demand for PET lidding films. Easy and time-saving packaging solutions are becoming more and more necessary as more individuals enter the workforce. Such packaging choices are in higher demand due to the convenience-driven lifestyle of the working population. The number of people who are employed has also led to a rise in takeaway and food delivery services. The growing need for environmentally friendly packaging options is a major factor driving the market for PET lagging films. Environmentally friendly packaging alternatives are becoming more and more important as environmental issues gain traction.
Challenges: The unstable price of raw materials derived from petroleum is impeding the global market’s growth for anti-fog lidding films. Furthermore, as some of the basic materials commonly used to create anti-fog lidding films are petroleum derivatives, variations in their costs may create market instability. These factors could restrict market growth over the projected period. Low labor costs, simple access to raw materials, the expanding use of cutting-edge functional films in sealing and packing operations, and stringent preservation laws that guarantee hygienic conditions are some of the reasons that are expected to drive market growth.
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Restrictions connected to COVID-19 are expected to slow down the supply chain, which will negatively affect the market and hinder its potential for expansion. The COVID-19 pandemic also negatively affected the market because of a historically low level of international trade and economic volatility brought on by lockdowns, which decreased demand for services and affected foreign exchange rates. Urbanization, shifting lifestyles in developing countries, the growing popularity of food packaging, and customer preference for food products purchased online are all factors driving the growth of the industry.
PET Lidding Films Market Key Players:
Geographically, the Asia Pacific Anti-fog Lidding Film Market will rule this sector because of the region’s growing industrialization and urbanization as well as the easy availability of affordable raw materials. Additionally, India’s PET Lidding Films Market was expanding at the fastest rate in the area, while China’s Lidding Films Market retained the most market share. Additionally, some of the market key players are Amcor Plc, Berry Global Inc., Clifton Packaging Group Limited, Constantia Flexibles, Cosmo Films Ltd, Ffp Packaging Ltd.
Polyethylene Terephthalate (PET) Lidding Films Market Segmentation:
By Product Type:
- High Barrier Lidding Films
- Dual-Ovenable Lidding Films
- Resealable/Re-closable Films
- Specialty Lidding Films
- Breathable Lidding Films
By Application:
- Trays
- Cups
- Jars
- Bottles
By End Use:
- Food & Beverage
- Pharmaceutical
- Others.
By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
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