emphasis on convenience and packaging is driving the PET Lidding Films Market
Technavio analyzes that the PET Lidding Films Market is expected to grow at a CAGR of 6.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 699.4 million.There are various factors that contribute to the growth of the market. The PET (Polyethylene Terephthalate) lidding films market is experiencing significant growth due to the increasing demand for convenient and attractive packaging solutions in various industries. These films offer numerous benefits, including excellent barrier properties, transparency, and ease of application, making them an ideal choice for applications such as modified atmosphere packaging and vacuum packaging. The convenience and aesthetic appeal of PET lidding films have made them a preferred option for food and beverage manufacturers, pharmaceutical companies, and other consumer goods industries.
The global PET lidding films market is experiencing substantial growth within the food and beverages sector, driven by the rising demand for eco-friendly and convenient packaging solutions. Notably, Amcor and Lorenz Snacks' collaboration in July 2024 underscores this trend, focusing on sustainable packaging innovations using recyclable materials and waste minimization. In the food industry, there is a prevailing shift towards single-serving portions, making PET lidding films an ideal choice due to their efficiency in compact packaging and preservation of food quality and extended shelf life.
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PET Lidding Films Market Segmentation
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The PET Lidding Films Market encompasses innovative solutions for extended shelf-life in food packaging, focusing on sustainable options like compostable and biodegradable materials. Brands prioritize packaging compliance, labeling, and branding, while logistics and food safety remain key concerns. Packaging consulting, equipment, design, and marketing services cater to industry trends, including foodservice, recyclable, and microwave-safe packaging. Food preservation and waste reduction are essential, with regulations ensuring food safety and process adherence. Packaging software and automation streamline the supply chain, enhancing efficiency and reducing costs.
In the intricate supply chain of the packaging industry, the PET lidding films market plays a pivotal role in catering to the demands of various sectors, including frozen food, personal care, trays, and pre-packaged meals. Suppliers constitute a significant layer of this chain, supplying raw materials for metal, glass, and plastic containers. These raw materials encompass a diverse range, including steel, aluminum, tin for metal containers; borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, and regular soda-lime glass for glass containers; and high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) for plastic containers. The procurement of these raw materials is a critical process, ensuring the quality and sustainability of the final product. The subsequent stages involve rigorous research and development, large-scale manufacturing, and distribution through various channels to meet the diverse needs of end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
