According to Future Market Insight’s research study, Revolutionizing Packaging, the High Barrier Lidding Film Market experiences a surge in sales driven by superior performance and consumer appeal. Innovations include active features like freshness sensors and time-temperature indicators, enhancing safety, quality control, and environmental friendliness.
NEWARK, Del, Oct. 06, 2023 (GLOBE NEWSWIRE) — The global high barrier lidding film market size will reach US$ 2.3 billion in 2023. The growth is expected to progress at 4.6%, reaching a valuation of US$ 4.1 billion by 2033. High barrier lidding film sales are anticipated to be fueled by their superior performance, lightweight composition, attractive packaging, and broad consumer appeal.
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Evolution of High Barrier Lidding Films with Active and Intelligent Packaging
Innovative trends revolutionizing the industry contribute to a massive transition in the high barrier lidding film sales. Technology integration for active and intelligent packaging is now the norm. High barrier lidding films have sophisticated features like freshness sensors and time-temperature indicators. These developments are revolutionizing the safety and quality control of products.
Consumers may check the freshness of perishable goods using time-temperature indicators, which also helps to prevent food waste. Freshness sensors watch for changes in packing integrity to avoid contamination and tampering. Developing high-barrier lidding films improves the customer experience and satisfies the contemporary market’s strict requirements for safer and more environmentally friendly packaging solutions. These high barrier-lidding film market trends are positioned to influence the future as they continue to gain traction.
Emergence of Eco-friendly Product Fuels High Barrier Lidding Films Demand
The high barrier lidding film demand is seeing an evident rise in environmentally friendly developments, especially in long-lasting high barrier lidding films. This expansion is caused by the rising demand for environmentally friendly packaging options. These cutting-edge lidding films are created to protect effectively while having the least possible adverse environmental effects. They frequently use recyclable or biodegradable materials, which reduces the amount of plastic waste.
Businesses are recognizing the need to adapt as consumer knowledge of the significance of eco-conscious decisions rises, not just to comply with legal requirements but also to fit with the preferences of a sustainability-conscious customer base. As a result, the packaging industry’s transition to a more environmentally responsible future increasingly depends on eco-friendly lidding films.
Customer Demand for Sustainability Risks High Barrier Lidding Films
As sustainability gains popularity, environmental concerns impact the high barrier lidding film market. Due to their unfavorable environmental effects, plastic packaging materials such as high barrier lidding films are being scrutinized more closely. The industry is pressured to use less plastic and adopt eco-friendly alternatives due to government and consumer advocacy for greener alternatives.
Due to the growing demand for sustainability, the market growth of conventional high barrier films is being constrained. This has forced producers to look at more eco-friendly packaging options and invest in them to meet changing consumer demands and lessen their environmental impact.
“The market is expected to expand rapidly due to the rising need for food packaging solutions that preserve product freshness and improve shelf life. Due to developing sustainability concerns, eco-friendly options may gain popularity and change the business environment.” – Ismail Sutaria (Lead Consultant, Packaging and Materials)
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- The PET segment of the material category is to grab a share of 35.6% by 2033.
- In the end-use category, the food segment accounts for a market share of 42.1% during the forecast period.
- By 2033, Italy market is expected to possess a 4.8% share.
- By 2033, Canada anticipates capturing a 3% market share.
- The United States high barrier lidding film market is forecast to have an 18.5% market share by 2033.
- By 2033, Germany is expected to hold 6.8% of the market share.
- Japan’s market share is expected to reach 4.1% by 2033.
- The market in France may acquire a share of 4.5% until 2033.
- Until 2033, China may grab a high barrier lidding film market share of 13.9%.
- The India market is going to continue to hold a share of 5.3% through 2033.
- Until 2033, the market in the United Kingdom is anticipated to grab a share of 3.3%.
- The Spain market is going to acquire a share of 4.0% through 2033.
- The South Korean market is expected to have 1.9% of the market share by 2033.
- By 2033, Thailand is anticipated to hold 2.1% of the market share.
Leading high barrier lidding film manufacturers make up a modest 10% to 15% of the market, characterized by fragmentation. Prospects for growth include:
- Establishing a more robust market presence through mergers and acquisitions.
- Researching untapped markets.
- Taking advantage of new developments in consumable supplies for cytology and histology.
These developments fuel high barrier lidding film market expansion within the target industry, opening doors for businesses to solidify their positions and increase their market share.
- In July 2021, Bemis worked with several leading rivals in the industry to help determine the future of apparel innovation while demonstrating its dedication to ethical business practices.
- Kaladex polyethylene naphthalate (PEN) high-performance polyester films for demanding applications to again be available, according to a May 2021 announcement from DuPont Teijin Films.
Essential High Barrier Lidding Film Manufacturers:
- Bemis Company, Inc.
- DuPont Teijin Films US Limited Partnership
- TCL Packaging Ltd
- Golden Eagle Extrusions, Inc.
- Sealed Air Corporation
- Toray Plastics (America), Inc.
- Schur Flexibles Holding GesmbH
- Multi-Pastics, Inc.
- Mondi Group
- Clifton Packaging Group Ltd
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By Product Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
By End Use:
- Food and Beverages
- Consumer Goods
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Originally published at https://www.einpresswire.com/article/660088490/global-high-barrier-lidding-film-market-estimated-at-us-2-3-billion-in-2023-anticipating-growth-to-us-4-1-billion-by-2033-at-4-6-cagr-fmi