The global lift-off lid box market is expected to increase at a growth rate of ~5.8%, during the forecast period.
The analysis from the lift-off lid box market shows that the global demand of the overall lift-off lid boxes is forecasted to reach millions of units by 2031. Noticeable sales of safe packaging solution are expected to drive the sales of lift-off lid boxes in the market.
The lift-off lid box is a box that comes with a lid and tray. With a simple structure, top lid and bottom tray, the lift-off lid boxes are gaining immense popularity among packaging manufacturers and end users. Lift-off lid box offers numerous benefits such as it prevents accidental openings and keeps inner objects locked safely, it also delivers easy set-up and quick for storing item and it allows for frequent usage without any deterioration.
Lift-off lid box is preferred as secondary packaging solution by various end-use industries such as food & beverages, personal care, electrical & electronics, and others. Lift-off lid box possesses various attractive features such as waterproof exterior, reusability, flexibility, light in weight, and others which gain traction among the end-users and this drives the demand for lift-off lid box during the forecasted period.
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Due to the surge in consumer goods usage and demand, the lift-off lid boxes demand has seen a significant increase in recent years owing to the gaining popularity of these boxes in hypermarkets, supermarkets, malls and others. Companies are also emphasising the need of choosing a cost-effective packaging solution with excellent strength and resistance properties.
In addition, because of the high level of competition in the market, packaging producers are offering these boxes at low rates. Moreover, considerable usage of lift-off lid boxes in personal care, automotive and others are likely to accelerate the growth of the lift-off lid box market.
Due to changing lifestyles and changing choices and preferences of consumers, it has been observed that the personal care industry is rapidly increasing with the rising demand for personal care products which is also accelerating the growth of lift-off lid box market.
In addition to this, in personal care industry the products are highly delicate and should be kept safely due to which the usage of lift-off lid box is increasing. Furthermore, the more and more consumption of cosmetics products among millennials and as a packaging solution is creating an opportunity for the lift-off lid box market.
Manufacturers operating in several end-use industries are opting for new and different types of packaging solutions to attract consumers. The availability of various packaging solutions such as mailers, bags, pouches and many more are projected to hinder the growth of the lift-off lid box market over the forecast period.
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The key players adopt various strategies such as product launch, merger & acquisition, innovation and others to survive the competition in the market. Key players are launching new and innovative lift-off lid box in the market to lure a major portion of the end-users and manufacturers.
In the North American region, U.S. accounts for the largest share in the market owing to the higher usage of costly and dedicated products which are kept in the lift-off lid boxes. It has been observed that the penetration of the lift-off lid box is very high in the North American region due to the brand owners’ preferences towards more environmentally friendly and cost-effective packaging solutions.
Owing to high living standards the demand for lift-off lid box in United States is expected to upsurge moderately over the forecasted period.
Due to the COVID-19 pandemic, the e-commerce sector has been quickly expanding. The fear of COVID-19 has made individuals more concerned about their health and safety and going out for buying products. The use of packaging solutions in the e-commerce sector is rising day by day. As a result of the increased demand for various packaging solutions to prevent the inner product from outer contamination, the demand is likely to increase for lift-off lid box.