High Barrier Lidding Film Market to Maintain Healthy CAGR in Coming Years, 2024
Sarasota, FL -- (SBWIRE) -- 08/28/2017 -- Global High Barrier Lidding Film Market: Overview
The purpose of designing the high barrier lidding film is to offer a safe environment to the products so that their shelf life is increased. In the packaging industry, high barrier lidding films safeguard the integrity of the products and preserve the product quality in case of water permeation moisture, flavor, oxygen, gas, aroma, and light. The popularity of the high barrier lidding films has increased owing to its features such as light weight nature, high performance, and attractive packaging.
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Global High Barrier Lidding Film Market: Segmentation
The high barrier lidding film market is fragmented into its product type, the material used, and applications. Based on the product type, the market is segregated into tray lidding film, cup lidding films, and top web. Depending on the material used, the global market is categorized into polypropylene (PP), polyvinyl chloride (PVC), polyethylene (PE), and polyethylene terephthalate (PET). Depending on the applications, the market is divided into pharmaceutical, consumer goods, food and beverages, and cosmetics.
Global High Barrier Lidding Film Market: Growth Factors
The increasing rate of the demand for the consumption of the packaged foods and beverages across the world is the primary factor that is driving the high barrier lidding film market. The customers are getting more inclined towards fresh and ready-to-eat food products that are packed in attractive cups and trays under low oxygen modified atmosphere packaging is boosting the high barrier lidding film market. Factors that are hampering the growth of the market is growing environmental concerns regarding the biodegradability is negatively affecting the market. Initiatives are being taken by the government and other organizations for promoting the use of bio-based materials. This factor has opened new opportunities in the market such as the market players are now making efforts to develop high barrier lidding films that are biodegradable.
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Global High Barrier Lidding Film Market: Regional Analysis
The market for the high barrier lidding film is geographically segmented into the Middle East and Africa, Asia-Pacific, North America, Western Europe, Eastern Europe, and Latin America. Europe and North America is dominating the high barrier lidding market; it is both in supply and production. The key factors for the market dominance in these regions include a large number of hypermarkets and supermarkets present in these regions and the increasing demand for the packaged food and beverages. The Asia Pacific regional market is also expected to grow rapidly in the coming years owing to the development of the industries such as pharmaceuticals and beverages in the developing economies China and India and the rise in the demand for the packaged food. The growth of the market in the Middle East and Africa is expected to increase owing to the growing demand for the packaged foods having long shelf life.
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Global High Barrier Lidding Film Market: Competitive Players
The key market players that are operating in high barrier lidding film market include DuPont Teijin Films U.S. Limited Partnership, Golden Eagle Extrusions, Inc., Toray Plastics (America), Inc., Multi-Pastics, Inc., Clifton Packaging Group Ltd., Bemis Company, Inc., TCL Packaging Ltd., Sealed Air Corporation, Schur Flexibles Holding GmbH., and Mondi Group.
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