Global Lidding Foil Market: Introduction
Growing need for packaging material that leads to high productivity and less stress on machines had led to an ever increasing demand for lidding foil market. Lidding foils are used to give a consummate conclusion to the container as well as assurance from external impacts. Lidding foils are also preferred due to their smooth and robust peel which is well suited for clean room environments. Lidding foils provide barrier protection which is approximately five times better than other lidding material. Not only this, they also offer many advantages to the packaging machinery operators as they run more efficiently on the packaging lines providing fewer hang ups and rejects as compared to their counterparts.
Global Lidding Foil: Market Dynamics
The global lidding foil market is expected to be driven by high demand from the end user industries such as pharmaceuticals and food & beverages for a lidding material that acts as a perfect barrier material over other alternatives. Another factor propelling the growth of the market is the high compatibility of lidding foil with almost every type of substrate.
Factor hampering the growth of the global lidding foil market is the comparatively low tear strength of the foil which comprises the seal integrity thereby contributing to low shelf life of the package.
Features such as child resistance and tamper evidence on lidding foil are expected to bring in new market opportunities of growth for the global lidding foil market. Child resistant lidding foil offers an upgraded peel and push functionality of the consumers and also acts as a highly efficient packaging process for the customers. Production of material that requires less energy for forming, and further reduces the carbon footprint is a key trend prevailing in the global lidding foil market.
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Global Lidding Foil: Market Segmentation
The global lidding foil market is segmented on the basis of product type, lamination type, end use, application, and geography.
On the basis of product type, the global lidding foil market is segmented into Die cut lidding foil Roll stock lidding foil
On the basis of lamination type, the global lidding foil market is segmented into Paper based lamination Film based lamination
Paper based lamination is highly preferred in the market as it is made up of recyclable material, thus acting as a sustainable solution.
On the basis of end use, the global lidding foil market is segmented into Food & Beverages Pharmaceuticals Home and Personal Care Others
On the basis of application, the global lidding foil market is segmented into Blisters Jars Cups Tubs
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Global Lidding Foil Market: Regional Outlook
On the basis of geography, the global lidding foil market is segmented into Latin America, North America, Asia Pacific, Middle East & Africa, and Europe. North America and Europe are together expected to lead the global lidding foil market mainly attributed to well-established end user industries such as food & beverages and pharmaceutical. Blisters account for almost 80% of the pharmaceutical market in Europe. Asia Pacific is expected to expand with the highest CAGR due to rapid development in key economies such as India and China. China has the second largest pharmaceutical market in the world, where the lidding foil market is expected to gain immense prominence. Middle East & Africa is expected to expand at a sluggish growth rate during the forecast period.
Global Lidding Foil Market: Key players
Some of the key players operating in the global lidding foil market are Winpak Ltd., All Foils, Inc., Symetal, Bemis Company, Inc., Constantia Flexibles GmbH, Stewart Foil, and Glenroy, Inc.
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