Die Cut Lids Market Growing with Healthy CAGR by 2024
Sarasota, FL -- (SBWIRE) -- 12/08/2017 -- The primary function of packaging is to provide protection to the food. But along with that, these packages have now become a major source of advertisement for the food products. Die cut lids are packaging medium that protects the food and they can be attractively printed or embossed with products such as curd, milk, juices, and yogurt. They are applicable to a variety of materials such as PET, PP, ceramic, and glass cups and bottles. Owing to its wide range of applicability, the demand for die-cut lids is rapidly increasing in the food and beverage industry.
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The global die cut lids market is segmented into its type of material, product type, application, and geography. On the basis of the type of material, the market is divided into metals like aluminum, plastic, and paper. Based on product type, the market is segregated into unembossed, embossed, non-printed, and printed die cut lids. Application of die cut lids is seen for food products such as milk, custard, cream, yogurt, sauces, and dips and in the beverages, the die cut lids are used for energy drinks, flavored drinks, and juices. On the basis of geography, the market is diversified into North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa.
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In the coming years, a significant growth will be recorded in the die cut lids market. This may be attributed to its user-friendly nature as well as the growing demand for die cut lids in the food and beverage industry. Die cut lids are designed in a manner that they can be easily pulled off and along with that they also provide protection to the food material. These features make it a desirable product in the market. Growth for die cut lids market is further influenced by the fact that it is easily applicable on various packages made of polyethylene terephthalate, polypropylene, ceramic, and glass among others creating greater opportunities in the market.
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The die cut lids market is dominated by Asia-Pacific region. This can be attributed to an intense growth in the food and beverage industry which in turn has increased demand for the die cut lids in these regions. Growth can especially be seen in countries such as India, China, and Japan. North America is expected to follow the growth of Asia Pacific due to the rising demand for die cut lids in the established economies such as the U.S. and Canada. Latin America is expected to register a slower growth rate in the coming years. The stagnant economic conditions in Europe and the Middle East and Africa may affect the market growth in these regions.
Some of the major market players in the die cut lids market include Winpak Ltd., Quantum Packaging Limited, Amcor Limited, Constantia Flexibles Group GmbH., Swan Packaging Inc., Watershed Packaging Ltd., Clondalkin Group Holdings B.V., and Bemis Company Inc.
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