The global market for dual-ovenable lidding films is estimated to be valued at nearly US$ 74 Mn in 2017 and is expected to register a CAGR of 6.1% to reach approximately US$ 133 Mn by 2027 end. In terms of value, the global dual-ovenable lidding films market is anticipated to create incremental opportunity of US$ 63.5 Mn and expand at 2.0X between 2017 and 2027.
Growing demand for dual-ovenable lidding films in the organised retail sector
The global lidding films packaging market is correlated to the significant presence of the organised retail sector across the world. Consumers are more interested in buying processed food products such as frozen foods, prepared meals, meat products, etc. directly from the super market. In addition, increasing middle class population coupled with increased per capita disposable income is also expected to fuel the demand for organised retail during the forecast period. Also, many developing economies are allowing foreign direct investment in the retail sector, which is further anticipated to fuel the sales of dual-ovenable lidding films in the coming decade.
Dual-ovenable lidding films have emerged as a clean and convenient source of cooking
Dual-ovenable lidding films provide customers with the ‘no-touch’ cooking solution that allows them to take food products directly from the freezer to the microwave or ovens. This aspect of cooking helps in avoiding product contamination as well as probable spillage inside microwaves and conventional ovens. Thus, dual-ovenable lidding films facilitate improved food safety and this particular factor will add to the growth of the market during the assessment period.
Fluctuating raw material prices act as a restraint to the dual-ovenable lidding films market growth
Fluctuating raw material prices have become a serious issue for manufacturers of dual-ovenable lidding films. Varying prices of film materials, printing inks and seal types are hampering the profitability of value chain participants in the global lidding films manufacturing industry. Additionally, manufacturing cost is also affected by currency fluctuations. Also, changes in oil prices are anticipated to be a major factor responsible for hampering market growth, as there are additions to the cost of transportation and logistics in case of oil price fluctuations. Changes in global supply and demand and fluctuations in the market, exchange rates, government controls and other factors may affect the raw material prices of dual-ovenable lidding films, particularly in European countries where the production cost is high because of the high cost of polymers.
Biodegradable lidding films present a lucrative market opportunity
Major players in the films packaging industry are focussing on manufacturing biodegradable dual-ovenable lidding films. End users in the frozen foods and meat products packaging industry across the globe are focussing on reducing their carbon footprint; also, due to the intervention of governments that provide tax exemptions on revenue, manufacturers use biodegradable products. There is a great demand for biodegradable dual-ovenable lidding films owing to customer inclination towards the use of clean materials and increase in health awareness. All these factors are expected to add to the increase in demand for dual-ovenable lidding films, which will lead to the growth of this market during the forecast period.
Global Dual-Ovenable Lidding Films Market Analysis, by Application
Frozen food and meat products are the two application segments that are anticipated to dominate the global market share of dual-ovenable lidding films by value. The meat products segment is anticipated to account for 45.8% of the market share by value in 2017, and is estimated to exhibit a CAGR of 6.3% over the forecast period. The frozen food segment is estimated to account for 28.2% of the global market share by value in 2017, and is estimated to exhibit a CAGR of 5.7% over the forecast period. The prepared meal segment is expected to gain 40 Basis Points over the forecast period. The meat products segment is anticipated to register the highest market attractiveness followed by the frozen food segment.
“The global market for dual-ovenable lidding films is getting a boost from the expanding food and beverages industry
With a boom in the food and beverages industry, there is bound to be increasing demand for safe and cost-effective lidding films comprising the Polyethylene Terephthalate (PET) material segment, which is expected to become the most attractive market segment over the forecast period across the globe. On the basis of seal type, the peelable seal especially the easy peel seal segment is expected to dominate the dual-ovenable lidding films market throughout the forecast period. Growing meat exports coupled with an increase in consumption of frozen food significantly contributes to growth in demand for dual-ovenable lidding films packaging across the globe. The APAC market for dual-ovenable lidding films is expected to witness the highest growth rate of 2X in terms of value as well as volume, owing to the rising awareness among consumers towards clean and convenient methods of cooking coupled with growing disposable income in this region.”
--- Analyst – Packaging, Future Market Insights
About the Report
Future Market Insights presents an insightful and comprehensive report on the global dual-ovenable lidding films market titled ‘Dual-Ovenable Lidding Films Market: Global Industry Analysis and Opportunity Assessment, 2017 –2027’. The report starts with an executive summary that gives a market overview with important market numbers and CAGR for the forecast period 2017 – 2027. The executive summary also lists the most lucrative region and segments in the global dual-ovenable lidding films market. A list of drivers, restraints and trends operating in the global dual-ovenable lidding films market is also presented here. The executive summary also lists the market value and forecast (US$ Mn) and market volume and forecast (MT) for the year 2017 and 2027 and also lists both the value and volume CAGR for the assessment period. In addition, the executive summary gives the global dual-ovenable lidding films market value share analysis by material type, by seal type, by application and by region for the year 2017. The next section of the report gives the global dual-ovenable lidding films market overview, which explains the definition of dual-ovenable lidding films and their various applications. This is followed by the market taxonomy.
By Material Type
By Seal Type
A section of the report is devoted to explaining the global dual-ovenable lidding films market value chain. Another important section depicts the competitive analysis of lidding films. A section of the report focusses on studying in detail the market dynamics of the global dual-ovenable lidding films market. These market dynamics consists of the drivers, restraints, opportunities and trends operating in the global dual-ovenable lidding films market. These market dynamics explain in detail the factors encouraging the growth of this market as well as the factors hampering the growth of the global dual-ovenable lidding films market. Subsequent sections of the report list the global dual-ovenable lidding films market by material type, by seal type, by application and by region. These sections of the report contain important metrics pertaining to the global dual-ovenable lidding films market like the Basis Point Share analysis, year-on-year growth projections, absolute dollar opportunity and market attractiveness analysis.
An important section of the report showcases the competition landscape of the global dual-ovenable lidding films market. This competition landscape gives a dashboard view of the key companies operating in the global dual-ovenable lidding films market along with key business information. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and a detailed SWOT analysis is presented. This competition landscape is the most important section of the report as it imparts a deep understanding of the leading companies operating in the global dual-ovenable lidding films market.
Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies operating in the global dual-ovenable lidding films market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to determine the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated with the help of the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the global dual-ovenable lidding films market.