Dual Ovenable Lidding Films Market Is Expected To See a growth of 5.3% | Future Market Insights

With global revenues rising 2.8% in 2023, the market for dual ovenable lidding films experienced rapid expansion. According to a recent forecast by Future Market Insights (FMI), revenue would almost double between 2023 and 2033, reaching close to US$ 142.3 million in 2031 at a ten-year compound annual growth rate (CAGR) of 5.6%. Despite COVID-19’s sluggish sales, demand for dual ovenable lidding films will increase, albeit gradually. By the end of 2022, it is anticipated to be close to 47,000 tonnes. Over the forecast period, the market is expected to grow in terms of volume at a 5.3% CAGR.

The global dual ovenable lidding films market is expected to experience significant growth in the coming years. These films are used for packaging food products that can be cooked and served in the same container. With increasing consumer demand for convenient and time-saving food options, the demand for dual ovenable lidding films is expected to surge.

Leading players in the food packaging industry are investing in the development of innovative and high-performance dual ovenable lidding films. These films offer excellent heat resistance, high clarity, and improved barrier properties, making them ideal for a wide range of food applications. The use of these films also helps to reduce food waste, as they enable consumers to store and reheat leftovers with ease.

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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.

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“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

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