FMI’s comprehensive forecast covers key aspects such as market estimates, drivers, restraints, segment-wise and region-wise analysis, competition mapping, market share analysis, and insights into product innovations and regulatory influences. Understanding the impact of COVID-19 on the dual ovenable lidding films market and devising strategies to navigate these challenges remains crucial for stakeholders.
With a projected CAGR of 5.3% in terms of volume, the market is poised for steady expansion, driven by evolving consumer preferences, technological advancements, and regulatory dynamics. Winning strategies will involve adapting to market trends, investing in innovation, and aligning with regulatory requirements to capitalize on emerging opportunities.
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North America is expected to dominate the market for dual ovenable lidding films, followed by Europe and Asia-Pacific. The growth of the market in these regions can be attributed to the presence of leading players and the increasing demand for convenient and time-saving food options.
Business Growth Opportunities in the Dual Ovenable Lidding Films:
- Eco-Friendly Solutions: Developing sustainable and eco-friendly dual ovenable lidding films to cater to the increasing demand for environmentally responsible packaging solutions.
- Advanced Barrier Properties: Innovating films with enhanced barrier properties to prolong shelf life, preserve freshness, and maintain food quality during transportation and storage.
- Customization and Branding: Offering customization options for lidding films, such as printing capabilities and unique designs, to help brands differentiate themselves and attract consumers.
- Expansion into New Markets: Exploring opportunities to expand the application of dual ovenable lidding films beyond traditional markets, such as ready-to-eat meals, to sectors like healthcare and institutional catering.
- Research and Development: Investing in research and development to improve the heat resistance, seal integrity, and overall performance of dual ovenable lidding films, thereby addressing evolving customer needs and preferences.
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Upcoming Trends in the Dual Ovenable Lidding Films Industry:
- Increased Demand for Convenience: Rising consumer demand for convenient and time-saving cooking solutions will drive the adoption of dual ovenable lidding films, particularly in busy urban lifestyles.
- Focus on Food Safety and Hygiene: Growing awareness of food safety and hygiene standards will prompt manufacturers to develop films with antimicrobial properties and compliance with stringent regulatory requirements.
- Technological Advancements: Integration of advanced technologies such as modified atmosphere packaging (MAP) and active packaging solutions to extend the shelf life of packaged foods and minimize food waste.
- Shift towards Circular Economy: Embracing circular economy principles by utilizing recyclable and biodegradable materials in the production of dual ovenable lidding films, aligning with sustainable packaging initiatives and reducing environmental impact.
- Market Consolidation and Partnerships: Increasing consolidation among key players in the dual ovenable lidding films market through mergers, acquisitions, and strategic partnerships to strengthen market presence, expand product portfolios, and enhance distribution networks.
Key Takeaways
Polyethylene terephthalate (PET) dual ovenable lidding films are expected to account for nearly 3/4th of the global market, aided by cost and durability benefits.
Peelable seals ensure the quality of product while improving user convenience, and are estimated to increase by nearly 2 times of the current value, at US$ 130 Mn by 2031.
Meat products packaging applications are expected to create an incremental opportunity of US$ 28.5 Mn in the next ten years.
The U.S. will account for over 90% of the North America value share through the assessment period, owing to a large and matured packaged food sector.
Germany is the largest and fastest growing market in Western Europe, accounting for over 30% value share by 2031, driven by the presence of major manufacturing facilities.
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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
Author
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.
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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