Navigating Growth in Dual Ovenable Lidding Films Market: FMI Unveils Insights on Drivers, COVID-19 Impact, and Winning Strategies for a Projected US$ 142.3 Million Industry by 2033

The global dual ovenable lidding films market share was estimated to be worth around US$ 67.6 million in 2016. Then in the following years, it registered a CAGR of 3% until 2022 and reached an overall valuation of US$ 82.5 million by its end.

As per the newly released global dual ovenable lidding films market analysis report by FMI, in the present year 2023, the net worth would be US$ 84.7 million. Then in the coming ten years, the sales of dual ovenable lidding films would experience year-on-year growth of 5.3%. Then by the conclusion of this forecast period in 2033, the net valuation of the market is poised to reach US$ 142.3 million. 

Sales of dual ovenable lidding films have become increasingly profitable as a result of packaged F&B industries worldwide. The dual-lidding films have a number of beneficial qualities that improve their popularity among end consumers and have boosted the market's traction in recent years.

Get a Sample PDF of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2640

Key Takeaways from the Dual Ovenable Lidding Films Market Study Report

By acquiring a share of almost 32.3% of the revenue generated by the global market, the United States remained the top-performing regional market. In the previous year 2022, the net valuation of the United States dual ovenable lidding films market was US$ 26.6 million.

With an overall share of 7.8% of the global market, the German dual ovenable lidding films market is the top-performing market in Europe. The revenue generated by this regional market out of sales of dual ovenable lidding films was nearly US$ 6.4 million in 2022.

China continues to be the leading market for sales of dual ovenable lidding films in the Asia Pacific region and accrued US$ 6 million from it in 2022. Moreover, the Chinese dual ovenable lidding films market is projected to experience a higher growth rate at about 7.1% through 2033.

Likewise, India is another significant region with higher demand for dual ovenable lidding films these days which contributes 2% of the revenue generated by the global market. The overall regional market was valued at US$ 1.7 million in the year 2022 and is projected to progress at a 5.5% growth rate over the forecast years.

Based on material type, the CPET or crystallized PET dual ovenable lidding films are the dominant segment with a market share of 72.3%. On the other hand, Polyethylene terephthalate (PET) and polypropylene (PP) material segments are also getting higher traction recently.

Based on seal type, the peelable seals for dual ovenable lidding films are the most preferred segment and contributed almost 96.5% of the product in 2022.

In addition to the food packaging sector, the growth of the e-commerce industry is also expected to drive demand for dual ovenable lidding films. The rise in online grocery shopping has created a demand for convenient and practical packaging solutions, and dual ovenable lidding films meet these requirements.

The market for dual ovenable lidding films is segmented based on type, application, and geography. On the basis of type, the market is segmented into polypropylene, polyethylene, and others. Based on application, the market is divided into food packaging, consumer goods, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.

North America is expected to dominate the market for dual ovenable lidding films, followed by Europe and Asia-Pacific. The growth of the market in these regions can be attributed to the presence of leading players and the increasing demand for convenient and time-saving food options.

In conclusion, the growth of the global market for dual ovenable lidding films is expected to be driven by increasing consumer demand for convenient and practical packaging solutions, as well as the growth of the food packaging and e-commerce industries. Companies operating in the market are expected to focus on developing innovative and high-performance dual ovenable lidding films to meet the growing demand.

Dual ovenable lidding films are a common packaging option in the food and beverage sector for packing items that need to be heated in the microwave or oven. Manufacturers' increasing emphasis on providing products with a longer shelf life improves sales possibilities.

The demand for dual ovenable lidding films is consistently rising as they offer strong salability and a printable texture which makes them suitable for food packaging applications.

FMI predicts two-fold growth opportunities for leading players. The usage and adoption of dual ovenable lidding films is estimated to increase on the back of rising consumption of ready meals, frozen foods, meat products, dairy products, and more.

Key benefits offered by dual ovenable lidding films include high safety, convenience and a longer shelf life. Biodegradable dual ovenable lidding films are becoming increasingly popular among major participants in the film packaging market.

End users in the frozen food and meat products packaging industry are focusing on lowering their carbon footprint. Consequently, some of the leading manufacturers are also using biodegradable goods as a result of government action that provides tax exemptions on revenue. Client preference for clean materials and an increase in health awareness, drives the demand for biodegradable dual ovenable lidding films.

Consumers are inclined towards processed food products. Many of the complexities of packaging processed food have been greatly minimized by the adoption of dual ovenable lidding films. Dual ovenable lidding films made of PET material are expected to see a surge in demand. Increasing concerns pertaining to safety of food and a developing packaged food culture globally, are contributing towards overall growth of the market.

# Key Takeaways from Dual Ovenable Lidding Films Market

Polyethylene terephthalate (PET) dual ovenable lidding films are expected to account for nearly 3/4th of the global market, aided by cost and durability benefits.

Peelable seals ensure the quality of product while improving user convenience, and are estimated to increase by nearly 2 times of the current value, at US$ 130 Mn by 2031.

Meat products packaging applications are expected to create an incremental opportunity of US$ 28.5 Mn in the next ten years.

The U.S. will account for over 90% of the North America value share through the assessment period, owing to a large and matured packaged food sector.

Germany is the largest and fastest growing market in Western Europe, accounting for over 30% value share by 2031, driven by the presence of major manufacturing facilities.

Get In Touch With Our Team For a 20% Flat Discount: https://www.futuremarketinsights.com/checkout/2640

"Improved safety and convenience offered by dual overable lidding films to packaged food have been improving their scope for applications. The market also will gain as the packaging industry slowly transitions towards biodegradable ovenable lidding films," says an FMI analyst.

# Impact of COVID-19

The COVID-19 pandemic and its global effects have had a notable impact on the global dual ovenable lidding films market. Stringent and complete lockdown in American, European, and Asian countries resulted in a declining supply and sales.

Food chains such as quick-service restaurants, and cafes were entirely shut down in almost every region, whereas, online food delivery were open and the deliveries were available which has lowered losses during the crisis. Nevertheless, demand for dual ovenable lidding films will gain traction in the later part of 2021 as industries recover rapidly with precautionary measures.

# Competitive Landscape

Key manufacturers contribute 30-35% of the global market. Strategic expansions and acquisitions are expected to gain traction throughout the forecast period in the moderately fragmented landscape.

Amcor PLC., Berry Global, Inc., Sealed Air Corporation, and Sonoco Products Company, Schur Flexibles Holding GMBH, Sirane Ltd. are the top players operating in the dual ovenable lidding films market. Furthermore, Coveris, Inc., Toray Plastics (America), Inc, DuPont Teijin Films and many others in the market hold 65-70% in the global dual ovenable lidding films market.

# Dual Ovenable Lidding Films Market by Category

By Material Type:

Polyethylene (PE)

Polyethylene Terephthalate (PET)

Crystallizable PET (CPET)

Amorphous PET (APET)

Recycled PET (RPET)

Polypropylene (PP)

Others

By Seal Type:

Pealable Seal

Easy Peal

Medium Peal

Hard Peal

Very Hard Peal

Permanent Seal

By Application:

Prepared Meals

Frozen Foods

Meat Products

Dairy Products

Others

Table of Contents Decoded: A Quick Overview! https://www.futuremarketinsights.com/toc/rep-gb-2640

# What to Expect in Our Report?

(1) A complete section of the Global Dual Ovenable Lidding Films market report is dedicated to market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.

(2) Another broad section of the research study is reserved for regional analysis of the Global Dual Ovenable Lidding Films market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.

(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Dual Ovenable Lidding Films market.

(4) The report also discusses the competitive situation and trends and sheds light on company expansions and mergers and acquisitions taking place in the Global Dual Ovenable Lidding Films market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.

(5) Readers are provided with findings and conclusions of the research study provided in the Global Dual Ovenable Lidding Films Market report.

Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA

About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.