According to Future Market Insights research, during the projected period, the global die-cut lids market is set to enjoy a market valuation of US$ 712.4 Million in 2022, and register a CAGR of 5.3% to reach US$ 1,194.0 Million by 2032. The die-cut lids market revenues are estimated to propel with the top 3 countries projected to hold 30-35% of the global die-cut lids market by the end of 2022.
Based on the material segment, metal material is projected to hold the major portion of the global die-cut lids market due to its benefits such as durability, waterproof recyclability, and cost-effectiveness. The metal segment is projected to hold 70% of the global die-cut lids by the end of
Market Size 2022
US$ 712.4 Million
Market Size 2032
US$ 1,194.0 Million
Value CAGR (2022 to 2032)
5.3%
Collective Value Share: Top 3 Countries (2022E)
30-35%
The global die-cut lids market reached US$ 670.9 Million for the year 2021, according to FMI analysis. The demand for the die-cut lids market is estimated to bolster with the top 5 companies estimated to hold approximately 20-25 % of the global die-cut lids market by the end of 2022.
The die-cut lids market is projected to witness a rising growth outlook during the forecast period. A new forecast by FMI anticipates that die cut lids market is anticipated to offer a growth opportunity of US$ 523.1Million from 2022 to 2032.
The increasing demand for lids among packaging brands is projected to augment the sales of the die-cut lids market. The die-cut lids market is expected to expand 1.8 times of the current market value during 2022-32.
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Historic Market Outlook for Die Cut Lids Market
The global die-cut lids market expanded at a CAGR of 4.7% during the historic period and reached US$ 670.9 Million in 2021.
Die-cut flexible lids are usually ready/pre-cut lids to the size of the container such as cups, trays, jars, etc. The die-cut lids are made available in different materials such as die-cut plastic lids, die-cut paper lids, and die-cut metal lids. The major demand for die-cut lids is anticipated from food and beverage especially the dairy products industry which uses cups and trays for packaging. Die-cut lids are also available in printed/unprinted, embossed/unembossed formats as per customer requirements. Die-cut lids besides providing primary protection to the food are also consumer-friendly when it comes to opening of the packaged food. The die-cut lids are designed in a way that they are easily pulled off adding to the user-friendly nature of the product.
How does advancement in technology creating opportunities in Die Cut lids market?
Previously, products were sold in basic and unimpressive packaging, particularly in humid and dry locations. Over the years, die-cut lids have improved the product and its qualities by becoming not only smaller and more affordable but also better at protecting the product. die-cut lids have amazing printing potential. By using flow and gravure printing techniques, die-cut lids can have excellent lid finishing and improved aesthetics. Barcodes, QR codes, and promotion codes may all be easily printed on lids, giving brand owners more options for promoting their products. This aids the brand owner in developing uniqueness and distinctiveness, which enhances the brand perception and product clarity. The growing adoption of technological advances in packaging solutions creates opportunities for die-cut lids.
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Country-wise insights
How can the Indian market augment the demand for die-cut Lids Market?
The die-cut lids market is expected to grow at 6.1% CAGR during 2022-2032. The Paper industry is expected to expand rapidly in India. It drives higher demand for the die-cut lids market.
According to the Food And Agriculture Organization of the United Nations, India is the world’s largest milk producer. India’s dairy production has 22 percent of global dairy production, followed by the USA, China, Pakistan, and Brazil. The die-cut lids market has been driven by easy availability of raw materials. It boosts demand for finished products such as ice cream cups, milkshakes, yogurt, and various liquid product. Overall it will create positive growth opportunities for the global die-cut lids market.
How do GCC countries create demand for die-cut Lids Market?
Oil transportation is a little risky because of the hazardous nature of oil. The same is true for lubricants while most lubricants can be stored for a long time without issue, they won't remain spotless forever.
According to USA Energy Information, Saudi Arabia is holding 15% of the total world’s oil reserve. It has a capacity of 12 Million barrels per day. During transit, lids are used to reduce oil wastage. Even in ideal storage conditions, lubricants can lose their performance potential and finally cease to exist if kept for too long. Oil and money are wasted on this. Metal covers can secure these cans of liquids, which is vital for both storage and shipping. By using lids one can avoid wasting oil and money, by sealing the cover and keeping it safe from the external environment, it makes the inventory more efficient. An increase in export drives the demand for protective packaging and thus boost the demand for the die-cut lids market.
Category-wise Insights
Which Material type is predicted to create the highest demand for the die-cut Lids Market in near future?
Based on the material segment, metal material is anticipated to hold around 70% of the market value share by the end of 2022 as metal die-cut lids provide a barrier against water vapor and oxygen transmission.
Which End Use has major demand in the die-cut Lids Market?
The food and beverage industry has driven significantly the die-cut lids market. It is projected to grow 1.6 times during the forecast period.
Recently sales of packaged goods have grown significantly. In the food and beverage sector, aluminum foil is used in die-cut packaging because it offers a strong barrier against water vapor and oxygen transmission, light, and aroma. Changing food habits and lifestyles have been a primary factor behind a change in customer eating preferences. It is mostly employed in applications involving cultured products and dairy. die-cut lids are excellent for preserving food in the freezer and refrigerator because the airtight seals stop moisture evaporation. Foods like cookies, crackers, chips, and cereals don't go bad as quickly when they have been stored at room temperature thanks to the airtight lids.
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Competitive Landscape
The major players in the global thermoformed packaging market are trying to focus on expanding their production capacity by investing in their existing facilities to cater to the growing demand for the die-cut lids market. Also, the key players are focusing on developing sustainable and innovative products to meet the demand for sustainable packaging. Some of the recent developments by the players are:-
In March 2021, Liplidwas recently awarded as the world’s best coffee cup lid. They are now planning to collaborate with restaurant chain MAX burger.
In February 2021, Constantia Flexibles Group GmbH launched a new product named Ecopeel-cover. It is recyclable and has high barrier properties and therefore can be used in various application areas.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 5.3% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2017 to 2021
Forecast Period
2022 to 2032
Quantitative Units
Revenue in USD Million, Volume in Units, and CAG from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
By Application, Die Cut Lids Market is Segmented as:
Cups
Bottles
Jars
Trays
Other Containers (Bowls, etc.)
By End Use, Die Cut Lids Market is Segmented as:
Food & Beverage
Pharmaceutical
Cosmetics & Personal Care
Chemical & Fertilizers
Oil & Lubricants
By Region, Die Cut Lids Market is Segmented as:
North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania
Frequently Asked Questions
In 2021, what was the worth of the global die cut lids market?
The global die-cut lids market was valued at US$ 670.9 Million in 2021.
During 2017 to 2021, what was the growth rate of the global die cut lids market?
From 2017 to 2021, the global die-cut lids market expanded at a CAGR of 4.7%.
What will be the value of the global die cut lids market in 2022?
The global die-cut lids market is projected to reach US$ 712.4 Million by the end of 2022.
Which segments are projected to remain the major segments for the die cut lids market?
The plastic segment is projected to remain the major segment for the die cut lids market.
Which end use is estimated to remain the leading segment for the global die cut lids market?
The food & beverages segment is estimated to remain the leading segment of the global die-cut lids market and is projected to expand by 1.6 times.
What boosts the demand for die cut lids market?
The high preference for packed food and beverages and packed dairy products is anticipated, to boost the demand for the die-cut lids market across the globe.
Who are the major players in the die cut lids market?
The major players operating in the global die-cut lids, are Quantum Packaging Limited, Winpak, Ltd., Constantia Flexibles Group GmbH, Amcor plc, Berry Global Group, Clondalkin Group Holdings B.V., Sealed Air Corporation, and Uflex Ltd.
At what rate is the global die cut lids market projected to grow?
The global die-cut lids market is anticipated to r a CAGR of 5.3% from 2022 to 2032.
